Instagram NFTs: Does Instagram support NFTs for crypto art ?


Instagram NFTs: Does Instagram support NFTs?

NFTs are sweeping the globe, luring several IT behemoths to investigate the nascent industry, which promises high returns and potential. This might soon encompass Instagram, according to fresh information from Mark Zuckerberg.

In early 2022, tech giant Twitter entered the NFT market with the announcement of a new feature that allowed users to post NFTs as display photos.

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Furthermore, video streaming provider YouTube has joined the NFT bandwagon, indicating that NFTs would be integrated into its platform in the near future. Is Instagram, however, compatible with NFTs?

Does Instagram Support NFTs?

When Mark Zuckerberg, the CEO of Meta, supposedly indicated that Instagram NFTs are in the works, the rumor market exploded. While visiting the SXSW conference in Austin, Texas, Zuckerberg revealed fresh details about the NFT integration on Instagram. He went on to say that the platform could be getting a new NFT function soon:

"In the near future, we plan to add NFTs on Instagram."

In addition, Zuckerberg hinted at intentions to mint NFTs on the network itself. He said:

I'm not ready to say precisely what it will be today, but it will include the ability to bring some of your NFTs in, and ideally the ability to mint things inside that ecosystem over time.

Zuckerberg is also said to have discussed his aspirations for NFTs and how they fit into his company's long-term goal for the Metaverse as a whole.

I'm hoping that the apparel your avatar wears in the Metaverse can be minted as an NFT so that you may transport it across locations. There are a number of technical issues that need to be resolved before this can truly be smooth.

The announcement that Instagram is promoting NFTs received a lot of good feedback on social media. Binance, a cryptocurrency exchange, reacted to the news by tweeting that it would be a good time to acquire more NFTs.

Meta has stated that its Instagram photo and video sharing platform will handle NFTs from many blockchains, including Solana, Ethereum, Flow, and Polygon.

NFT Release Date on Instagram

With Zuckerberg's approval of the Instagram NFTs, the feature's release date will be delayed, since the function is still in development at the time of publication.

It is, however, expected to be published shortly, maybe by the end of the year or early in 2023. Keep an eye on this space for further details. 

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