NFT is coming to Instagram
Meta CEO Mark Zuckerberg said NFT will be integrated into the Instagram platform in the next
Zuckerberg did not elaborate on how NFT will work on Instagram. According to The Verge, the company may initially only allow them to be used as Twitter-like avatars, but does not rule out the possibility of supporting the NFT trading feature inside.
Previously, experts were concerned that NFT could sweep traditional social networks such as Facebook and Twitter into new problems related to copyright and data control. According to Alan Woodward, professor of cybersecurity at the University of Surrey (UK), the NFT market is lacking a driver. Therefore, when setting foot in this land, social networks will become the main responsible party. This is a matter of concern given the numerous copyright disputes that have taken place recently.
However, others said that it is understandable that Twitter and Meta took the risk to join the NFT, as both did not want to miss the opportunity to make money from the new technology.
Besides, the head of Meta confirmed that NFT will play an important role in the company's metaverse ambitions. He envisions the user's outfit or avatar in the metaverse to be labeled with an NFT code.
However, Zuckerberg admits there is still a lot of work to be done to bring NFT to the metaverse. "A bunch of technical issues and other things need to be worked out before things really go seamlessly," he stressed.
Zuckerberg and other senior Meta executives have expressed interest in NFT. In January, Adam Mosseri, head of Instagram, said he was "actively exploring" the technology. That same month, the FT reported that Meta was working on an NFT profile picture feature for Facebook and Instagram.