Mark Zuckerberg confirms the upcoming arrival of non-fungible tokens (NFTs) on Instagram

Another clear example of the involvement of large companies using fixed tokens is the example of Meta. So CEO Mark Zuckerberg announced the addition of NFT to the social network Instagram. He also emphasized that the appearance of NFT can be expected very soon.

Meta transition to the meta-universe

Many have noted Mark Zuckerberg’s remarkable interest in virtual reality over the past year. Even the change of the company’s name to Meta aroused suspicions about possible further changes in the company’s competencies and made other large companies think about expanding their activities in this area.

The appearance of the audience’s interest in NFT or even their appearance on the social network Instagram is not surprising, because in May 2021 the network provided an opportunity to join the seminar on the creation of NFT. It was then that a wave of discussions began to involve the platform in the meta world.

However, there is now an official address from Zuckerberg, which he made at the South by Southwest conference in Austin, Texas. According to him, the company’s team is actively working to activate NFT on Instagram, although it is still unknown the exact date of involvement and on which blockchain the technology will work. “We are working to bring NFTs to Instagram in the short term,” — commented Zuckerberg.

Ability to create NFT directly on the network

An equally important innovation in addition to increasing the use of tokens is the ability to directly create NFT on Instagram. This information was provided by journalist Casey Newton, emphasizing that the head of Meta pointed to the direct function of coinage on the social network. It is also mentioned that at the beginning of the year, information came from the company’s narrow circles that there was an idea to create an NFT market based on the OpenSea trading platform.

For the second time, Meta is actively demonstrating its readiness to open new opportunities in the world of digital assets. The first attempt of the company was to launch its own cryptocurrency Libra, but the coin received dissatisfaction and criticism from regulators. After that, there were several attempts to transform the asset, but the company abandoned the idea. Of course, there is every reason to believe that the new Meta project will be more prepared and well thought out than the previous one.

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Marta Krysan, Team bit4you.