Summary: Meta CEO Mark Zuckerberg said in a video Monday that instagram will start to test non-fungible token (NFT) integration this week, allowing creators and collectors to display their NFTs.  “We’re starting building for NFTs not just in our metaverse and Reality Labs work, but also across our family of apps,” Zuckerberg said in the video. ...

Meta CEO Mark Zuckerberg said in a video Monday that instagram will start to test non-fungible token (NFT) integration this week, allowing creators and collectors to display their NFTs

“We’re starting building for NFTs not just in our metaverse and Reality Labs work, but also across our family of apps,” Zuckerberg said in the video. “We’re going to bring similar functionality to Facebook soon.”

In addition, Zuckerberg said it’s also working on three-dimensional, augmented-reality NFTs compatible with Instagram stories using Spark AR software, an augmented reality platform. Zuckerberg emphasized that this move is about self-expression and being able to show your followers what you want to show them. 

The Meta CEO plans to launch the same capabilities onto Meta and then on other apps a part of their family. 

Plugging in their wallets, users will be able to prove NFT ownership, showcase them on their profiles and tag the creators who made them. Instagram will not charge users for posting and sharing NFTs.

According to Coindesk, a Meta representative, Alexandru Voica, said the compatible third-party wallets will be Metamask, Rainbow and TrustWallet in a since deleted tweet. He also claimed that Instagram will initially support Ethereum-based NFTs, with Polygon, Solana and Flow to follow, although this is just speculation at the moment. 

This announcement follows Twitter’s January launch of NFT profile pictures for Twitter Blue subscribers.

Author: Tyler Irvin