Meta will begin testing support for NFTs on Instagram with a Facebook rollout to follow in the future, Mark Zuckerberg has confirmed.
Mark Zuckerberg said the app will this week start testing a way for users to display non-fungible tokens on their profiles.
"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 a post on Facebook. "We're starting to test digital collectibles on Instagram so that creators and collectors can display their NFTs."
A similar feature is coming to Facebook in the near future, and Meta is considering enabling NFTs in its other apps, such as Messenger and WhatsApp.
Though Zuckerberg didn’t elaborate on exactly how the new feature would look, he said that he thinks NFTs allow for “saying something about yourself.” He also noted that Meta had plans to explore adding augmented reality NFTs to Instagram Stories via its dedicated augmented reality platform, Spark AR.
NFTs are certificates of ownership, associated with the real world or digital objects, and are minted on the blockchain. They have become popular in the recent times, with several digital collectibles being sold for millions of dollars. Many celebrities have also started minting their personal NFTs, in a bid to connect with fans.