Meta is exploring plans to allow Instagram and Facebook users to create, showcase and sell NFT on their respective platforms, according to a report from The Financial Times via The Verge (22/1).
Reports say the Facebook and Instagram teams are preparing a feature that will allow users to display NFT as their profile photo. The company is also working on a prototype that will allow users to create new NFTs. Not only that, employees at Meta are also reportedly discussing launching a marketplace for users to buy and sell NFTs.
However, current plans are still in “early stages and are subject to change.” According to The Verge, if the company is right to roll out the feature, it will be the biggest mainstream support for NFT and will help strengthen the asset's place in the digital world.
This isn't the first time Instagram has shown interest in NFT. Instagram CEO Adam Mosseri said in December that the company was actively exploring NFT and wanted to make it easier for a wider audience. Meanwhile in October 2021, Meta CEO Mark Zuckerberg talked about how the metaverse could support digital ownership or NFT.
To note, NFT or non-exchangeable tokens get a lot of attention from users as well as developers. Many of the leading web platforms in recent months have shown their support for the asset. Twitter was previously reported to be working on a way to showcase NFT, whereas Reddit is rolling out its own collection of NFT avatars for users.
Although NFT has a speculative value, which can rise and fall quickly, the presence of important roles in the digital world will strengthen the position of these assets.
