According to a report by The Financial Times, Meta, the social media platform previously known as Facebook, is investigating the possibility of enabling users to create, display, and sell NFTs (Non-Fungible Tokens) on Facebook and Instagram.
Please note: This content is produced solely for informational purposes and does not contain any investment advice.
NFTs are starting to become permanent!
Meta announced that it is examining plans to allow users to create, display and sell NFTs on Facebook and Instagram. . If the company launches such tools, it will be the biggest major show of support for NFTs to date and help solidify NFTs’ place in the digital world.
NFTs can be made as profile pictures.
The decision, as announced by Instagram, is currently “in the early stages and subject to change.” According to the report, teams at Facebook and Instagram are developing a feature that would enable users to showcase their NFTs as profile pictures. There are also rumors about a prototype in the works that would allow users to mint new NFTs. Additionally, there have been discussions within Meta about potentially establishing a marketplace for users to buy and sell NFTs.
Mosseri had already announced his interest in NFTs.
The extent of these plans’ progression remains uncertain, but Meta’s leadership’s interest in NFTs isn’t a recent development. Adam Mosseri, a former executive at Facebook and the current head of Instagram, declared last December that the company is “actively exploring NFTs and looking into ways to make them more accessible to a broader audience.”
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