Meta, the main organization of Instagram and Facebook, has revealed that they are not only planning to promote NFT but will also make it possible to prepare, showcase and buy and sell it.
It was first reported by the Financial Times, according to which although this is an initial announcement, after which Meta itself may abandon it. But according to the claim, in the first phase, Instagram users will be able to post NFT on their profile picture and users will also be able to create new NFT. In the next phase, NFT buying and selling facilities will be provided in the form of market place.
Earlier in December, the head of Instagram had said that he wanted to expand NFT on his platform. Mark Zuckerberg then said that NFT and digital products would be made available on Metavers.
Last year we saw a surge in non-fungible tokens or NFTs and people made millions of dollars buying and selling them. A week before Instagram, Twitter also offered NFT the option to put a picture as a display. Probably a factor as to why they’re doing so poorly.