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Instagram is actively exploring NFT integration, says CEO

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Instagram, the social media platform owned by Meta (formerly Facebook), is actively exploring the integration of non-fungible tokens (NFTs).

That’s what company CEO Adam Mosseri said during an Instagram question-and-answer session over the weekend.

According to the executive, Instagram is studying ways to make NFTs more accessible to its users.

One of the possibilities, according to Mosseri, would be to label Instagram posts that offer NFTs as “collectible items”.

Instagram’s CEO said that while there is still no official announcement, things are happening behind the scenes.

“Nothing to announce yet. But we are definitely actively exploring NFTs and how we can make them more accessible to a wider audience.”

As Mosseri added, the aim of the future initiative is to help content creators:

“I think it’s an interesting place where we can play and also a way to help the creators.”

Instagram and NFTs

This is not, however, the first time that Instagram has studied the possibility of integrating NFTs into the platform.

After all, in May of this year, during “Creator’s Week”, Instagram organized a panel for NFT creators.

The purpose of this event was to help creators increase their following and monetize their platforms.

Additionally, app developer Alessandro Paluzzi shared details about the possibility of NFTs on Instagram in late June.

At the time, he posted screenshots of “Collectibles,” stating that the social media platform was actively working to integrate the tool.

Then in September, he came back to comment on the matter, adding that the social network was studying the possibility of adding a section where the user could manage their digital wallets.

In early December, Paluzzi said the Coinbase, TrustWallet, Novi and Rainbow wallets were added.

It looks like it’s just a matter of time before the new feature for NFTs is added to Instagram.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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