After Twitter, another social media giant is looking to explore the NFT industry. Meta-owned social media platform Instagram is ‘actively exploring’ NFTs to make it accessible for its wider and booming pro-crypto audience, CEO Adam Mosseri said in an Instagram Q&A.
“Nothing to announce yet but we are definitely actively exploring NFTs and how we can make them more accessible to a broader audience. I think it is an interesting place that we can play and also a way to hopefully help creators.”
Previously, news related to NFT integration on Instagram circulated in July after mobile developer Alessandro Paluzzi said that the platform might have plans to bring its own NFTs to audiences. Posts that will contain NFTs will be watermarked as “Collectible” to let the audience know. Meanwhile, Instagram is yet to confirm the rumors.
— Alessandro Paluzzi (@alex193a) June 28, 2021
Owned by Meta (then Facebook), Instagram is currently the most popular video and photo sharing platform after recently recording 2 billion monthly users worldwide. With possible NFT integration, Instagram could help boom its already burgeoning audience and creators.