Instagram To Welcome NFT Features

Instagram is a popular social media network with over 1 billion subscribers.

Mark Zuckerberg, the CEO of Meta, announced that Instagram would be introducing NFT features in the coming days.

In 2022, Instagram is expected to collaborate with NFT to launch new features for its users.

Experts expect that the integration of NFT will lead to the creation of a particular page where NFT creators can upload their collections via Instagram.

Another expectation is that Instagram users will be able to mint their Instagram avatar as NFT.

Instagram is expected to launch a direct link feature to lead you to your NFT collections.

Finally, there is a likelihood that Meta, the parent developer of Instagram, might be developing their NFT marketplace.


Of all the popular social media apps, Instagram ranks at the very top. Statista says the media-sharing social network will have over 1 billion monthly active users in 2021.

Nonetheless, Instagram is not the first social media platform to integrate NFT into its features, and Twitter did it some months ago.

When the CEO of Meta, Mark Zuckerberg, announced that Instagram would introduce NFT features, it generated a lot of comments and impressions from the general internet users.

In this article, we shall look at the usage of Instagram, possible integration expected to feature NFT on Instagram, and other collaborations between Instagram and the metaverse technology in general.


Instagram As A Social Media App

---

Instagram is without a doubt one of the most prominent social media platforms. The photo and video-sharing social networking app were developed by Kevin Systrom and Mike Krieger in 2010.

In 2012, Facebook (Now called Meta) acquired Instagram in a deal of approximately $1billion in cash and stock. As of 2019, Instagram had about 1 billion active users worldwide.

Instagram has continued to enjoy massive usage from all over the world due to its continuous upgrade. Since its launch, the social media app has witnessed several advancements in features and use.

Features distinguishing Instagram from other social media apps include feeds, explore, reels, photographic filters, live locations, stories, and private and public pages.

Asides from these features, in 2022, the CEO of Meta, the parent developer of Instagram, announced that the NFT features would be added to Instagram.

We shall examine the likely collaborations between Instagram and NFT alongside what experts in the industry are looking forward to witnessing in the new features.


Non-fungible Token (NFT) Features On Instagram

---

Since the introduction of Non-fungible tokens (NFTs), a digital form of art collection, the acceptance of this invention has continued to increase across the world.

Several artists and digital creators are embracing the concept. Many platforms are now available to mint your artworks, upload, and meet interested buyers for your collections.

NFT trading platforms are now numerous. Creators and investors are springing into the NFT space from all walks of life.

Big brands, industries, tech giants, and government institutions are not left behind in the pursuit to be stakeholders in the NFT space. In this article, Of importance among these tech giants is Instagram.

While there were speculations that Instagram might be working towards introducing NFT features into its platform, the CEO, Mark Zuckerberg, confirmed the speculation.

In a conversation with Shark Tank’s Daymond John at SXSW, Mark announced that Instagram is working on bringing NFTs to Instagram.

While Mark's announcement was just a hint, experts think that the NFT feature on Instagram will allow creators to have a separate space to display their collections.

The feature will also allow the creators and artists to directly link to the platform where investors and enthusiasts can purchase those collections now via Instagram.

In a past statement, Mark Zuckerberg made it known that Meta, the parent developer of Instagram, is looking toward embracing a broad and interconnected virtual world.

This virtual world is expected to go beyond integrating NFT, and it will encompass other innovations surrounding the metaverse. In addition, the feature will likely allow Instagram users to mint their avatar as an NFT.


Meta, The Parent Developer Of Instagram And NFT Features

---

There is a more robust assertion that Meta, the parent developer of Instagram, is working in top gears to integrate NFTs into its various apps (including Instagram and Facebook).

In 2021, Adam Mosseri, an Instagram Lead, made it known that he and his team are “actively exploring NFTs” and are looking forward to integrating NFTs.

Experts and industry players think that this statement by Adam Mosseri will allow Instagram users to create NFT profiles. Some experts opine that Meta might be developing their own NFT marketplace.

The latter suggests that Meta might be creating their own NFT marketplace where creators can mint their digital artworks and meet buyers for translations on a single platform.

The marketplace will directly link to your Instagram page as a creator or holder of NFT collections.

Looking at the trajectory of Meta and its past activities, there is a more significant probability that a Meta marketplace for NFT is underway and will enjoy the patronage of over 1 billion Instagram users spread across the globe.


Conclusion

---

The launch of NFT and several marketplaces seem to be one of the best steps towards the metaverse plan. Art creators, enthusiasts, and investors have continued exchanging digital arts and making transactions using cryptocurrencies via blockchain technology.

With the wide acceptance and embrace of NFTs, Instagram (and meta, its parent developer) already has plans underway to become significant stakeholders in the NFT space.

While there is no clear and detailed information on how Instagram will integrate the NFT feature into its platform, experts and industry players are looking in all directions that the NFT features will suffice.



Author: Valentine A., Gate.io Researcher
This article represents only the researcher's views and does not constitute any investment suggestions.
Gate.io reserves all rights to this article. Reposting of the article will be permitted, provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.