The folks at Meta are cooking up something new on Instagram. A group of NFT creators is testing out their tokens, as confirmed by Meta CEO Mark Zuckerburg. The company confirmed that there would be similar functionality on Facebook.
A video posted by the head of Instagram, Adam Mosseri revealed a select group of users in the United States will have the capacity to display NFTs on their Instagram feeds, stories, and direct messages.
“I want to acknowledge upfront that NFTs and blockchain technologies and Web3 more broadly are all about distributing trust, distributing power,” Mosseri said in the video. “But Instagram is fundamentally a centralized platform, so there’s a tension there.”
NFTs on Instagram 🎉
This week we’re beginning to test digital collectibles with a handful of US creators and collectors who will be able to share NFTs on Instagram. There will be no fees associated with posting or sharing a digital collectible on IG.
See you next week! ✌🏼 pic.twitter.com/VuJbMVSBDr
— Adam Mosseri (@mosseri) May 9, 2022
According to Christin Pai, a spokesperson at Meta, the NFTs displayed on the platform will initially be minted on the Ethereum and Polygon blockchains.