The CEO of Meta, Mark Zuckerberg, has finally confirmed the speculations about integrating NFT features into the Instagram ecosystem.
On Tuesday, Zuckerberg allegedly announced while speaking at the South by Southwest (SXSW) conference that his company, Meta is working on bringing NFTs to Instagram soon.
“We’re working on bringing NFTs to Instagram in the near term,” Zuckerberg reportedly said. Although he did not provide specific details like the launch date, the announcement shows that there might be work going on behind the scene.
In the last 24 hours, bitcoin has been up by 5.0%, with a current price of $40,859.91 as of the time of writing this. Within 24 hours, bitcoin experienced a $38,830.74 low and $41,551.43 high. The trading volume of bitcoin in the last 24 hours is $29,802,094,258. The current market capitalization of bitcoin is $775,724,596,027. Currently, $18.98M bitcoins are in circulation.
Stats and Image from Coin Gecko
Writer Casey Newton tweeted that Zuckerberg added that Meta hopes to allow the users of its picture and video sharing platform to mint their NFTs in the coming month too.
“At #SXSW, Mark Zuckerberg just said that “hopefully” in the coming months you’ll be able to mint NFTs within Instagram.”
This is not the first time the news about Meta hopping into the NFT bandwagon is making headlines. Financial Times reported that anonymous sources confirmed that Meta is working on a feature that will allow Facebook and Instagram users to display their NFTs on their social media profiles and mint their collectible tokens.