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Instagram will have its own NFTs soon?



 The latest social media giant to expand research into NFT integration into its platform is Instagram.

Instagram is looking for a way to bring NFTs to its social networking platform and its two billion users as its parent company Meta makes a foray into the metaverse.

NFTs are traded online, are often linked to a cryptocurrency, and are usually recorded on a blockchain. Public interest in them skyrocketed in 2021. Their total sales soared to $ 12 billion this year, in part because big brands like Nike are moving into NFTs and virtual worlds.

Instagram's CEO, Adam Mosseri, said over the weekend that it is working on developing features that incorporate NFTs. Mosseri in an Instagram story published on Saturday:

“There's nothing to announce yet, but we are definitely actively researching the NFTs and how we can bring them to a wider audience. I think it's an interesting place to play and also a way to hopefully help creative people. "

Reports of Instagram's work on NFTs were circulating earlier this year. App developer Alessandro Paluzzi shared details in June about the possibility that Instagram could launch its own NFTs as the platform considered working on collectibles.


According to Paluzzi's tweets, Instagram posts that offer NFTs may have a label labeled “Collectible” to notify users of the NFT they have purchased. However, the platform has not confirmed these details.

Mosseri also mentioned some new features such as B. Profile integrations, which expand the possibility of integrating photos and videos into user profiles. This could also be related to “collectibles” when users want to show their NFT as a profile picture, as many are already doing on Twitter.

The NFT scene is still very active at the end of this year. According to data from Nonfungible, an industry-tracking website, it had grossed $ 335 million in the past week.

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