Instagram CEO, Adam Mosseri, says they are exploring NFTs in order to make them more accessible to a wider audience. This happened after Twitter recently started to take NFTs really seriously and plans to integrate them on its platform. Considering that Facebook, Instagram’s parent company, has already stepped into the metaverse, it’s not surprising to see them dabble with NFTs. If they do it right then, NFTs will become really popular and will have a lot more adoption.
Adam Mosseri on NFTs
In a recent story series where Adam was doing a ask me anything round, he was asked about NFT integration with Instagram. In the story, Adam said that there is nothing to announce about this yet, but yes, they are actively looking into this new tech. Their goal with this will be to make it more accessible to a wider audience which will be in line with Facebook’s goal of the metaverse.
While the CEO didn’t say much other than this, there is a good chance that NFT integration is coming to NFTs. In the creator week that was hosted by Instagram back in May, a software developer shared screenshots that showed this integration on the platform. The developer also showed that the app might have an option to let users bid on NFTs directly through the platform. They will also bring support for the NOVI project that Facebook has been working on.
I am pretty sure that with Twitter and Facebook exploring the NFTs and crypto space, Instagram won’t be lagging behind. And since Insta is a more image-based platform, the NFT integration will mean a lot. The kind of user base it has, the community of NFTs will benefit a lot if they integrate it soon.
Creators will benefit a lot
Since Instagram is a hub for creators and artists, they can benefit a lot from NFT integration. Users will be able to bid on their art and can own it, which will add an additional source of revenue income. Plus, those who own these NFTs can show it off on their profile which will also be great for the creator economy.
What are your thoughts as the Instagram CEO says that they are exploring NFTs? And how do you think this will shape the future of the creator economy? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.