Instagram Begins Testing NFT Integration
Meta will begin testing digital collections on Instagram starting this week.
Mark Zuckerberg, CEO of Meta, and Instagram CEO Adam Mosseri announced that they are launching a test of digital collections on the photo and video sharing platform this week, signaling a move towards incorporating NFTs without any fees related to posting or sharing a digital collection on the platform.
In an interview with Tom Bilyeu - Theory published on Facebook on Monday, Zuckerberg stated that testing digital collections on Instagram is the first step towards allowing content creators to curate and display NFTs across other Meta apps: WhatsApp, Facebook Messenger, and Facebook. Zuckerberg added that Meta plans to "soon bring similar functionality to Facebook" and is working on "practical NFT enhancements" for Instagram.
This move appears to enable Instagram users to display NFTs as part of their profiles as initially announced on Twitter in September 2021: Twitter users can use NFTs and create avatars (iOS supported) since January this year.
Reddit indicated shortly after Twitter's NFT launch that they were testing tokens as profile pictures on the platform, and OnlyFans - known as an app widely used for adult content - has allowed NFT profile pictures since December 2021.
Additionally, Datareportal reported that Instagram had approximately 1.5 billion global users as of January 2022 - roughly half of Facebook's 2.9 billion.
Many prominent cryptocurrency market users have had their Instagram accounts hacked through the platform. Cointelegraph reported in April that hackers breached and shared fake airdrop links with over 600,000 followers through Bored Ape Yacht Club's Instagram page.
Since rebranding from Facebook to Meta in October 2021, the social media company has announced numerous initiatives targeting cryptocurrencies and metaverse users.
Despite the Diem Association - formerly known as the Libra Association - shutting down the project in February, Meta also opened a metaverse-themed retail store in San Francisco on Monday.
Do you think this integrated NFT utility will benefit users on Instagram?
