Speaking via video link at the SXSW festival in Austin, Texas on Tuesday, Meta CEO Mark Zuckerberg announced that Instagram was working to integrate NFTs (non-fungible tokens) onto its platform in the “coming months. “, as reported by Engadget, The Daily Beast and Protocol.
Zuckerberg didn’t go into specifics, but he said users would be able to bring existing NFTs to Instagram and “hopefully over time they can create things in that environment.”
Twitter has not created any functionality allowing users to create NFTs on its platform.
The Financial Times reported in January that Meta was working to allow users to display NFTs as profile pictures. Two sources told the FT that the tech giant had considered opening a marketplace for people to trade NFTs.
Zuckerberg’s announcement is part of his larger ambitions to make Meta a metaverse company. The word “metaverse” is a term that describes a future vision of the Internet that is primarily accessible through immersive technologies such as VR and AR headsets.
“In the long run, hopefully the clothes your avatar wears in the metaverse can be minted as NFTs,” Zuckerberg told SXSW.