Adam Mosseri, CEO of Instagram, has officially announced the arrival of NFTs (non-fungible tokens) on Instagram. It does so just a few weeks after Mark Zuckerberg, CEO of Meta (Facebook), revealed that his company was working on the integration of these assets on the different platforms. The social network, in particular, will allow creators and collectors to show off their digital works in different sections, including direct messages and Instagram Stories.
The CEO of Instagram has confirmed through his Twitter profile that the possibility of displaying NFTs on the platform is currently available to a small group of creators and collectors in the United States, although they hope to expand it to more users soon.
According to Mosseri himself, the staggered arrival of NFTs is due to the fact that Instagram is a centralized platform —not very much in line with what these assets represent—. Therefore, the slow integration can serve to collect and analyze user feedback and thus improve the feature if needed before rolling it out to everyone. It also ensures that there will be no "fees associated with publishing or sharing a digital collectible" in the app.
NFTs on Instagram 🎉
This week we're beginning to test digital collectibles with a handful of US creators and collectors who will be able to share NFTs on Instagram. There will be no fees associated with posting or sharing a digital collectible on IG.
See you next week! ✌🏼 pic.twitter.com/VuJbMVSBDr
— Adam Mosseri May 9, 2022
However, and despite the fact that the NFTs on Instagram will appear in a limited way as they are reduced to a small group of creators, any user will be able to see them reflected in the app. These tokens can appear in posts, stories or direct messages. In all three cases, in addition, relevant information about the asset will be displayed, such as the owner / owner, the collection to which it belongs or the artist who created it.
Meta prepares to make Instagram a place to buy and sell NFTs
Mosseri has not elaborated on the future of NFTs on the platform, but Instagram parent company Meta's plans go far beyond offering creators the ability to showcase their assets on the social network. According to the Financial Times, Mark Zuckerberg's company plans to make Instagram a platform where it will also be possible to sell and buy NFTs, something that can serve creators as a way to earn income.