Mark Zuckerberg says NFTs are soon coming to Instagram

Mark Zuckerberg, head of Instagram's parent company Meta, has announced that his team is working on introducing NFTs to the social media platform. He was speaking at Austin's annual South by Southwest (SXSW) film festival.

According to an Engadget reporter who live-tweeted the event, Zuckerberg said, "We're working on bringing NFTs to Instagram in the near term. I'm not ready to kind of announce exactly what that's going to be today."

A reporter from the Verge tweeted that Mark Zuckerberg said Instagram users will hopefully be able to mint NFTs on the platform in the coming months.

Rebranded from Facebook to Meta last year, the company had already announced that the Metaverse they are planning to build will have provisions for NFTs and other digital objects.

“This will make it easier for people to sell Limited Edition digital objects like NFTs, display them in their digital spaces, and even resell them to the next person securely,” Facebook Head of Metaverse Products Vishal Shah said at the time.

Similarly, in January, the Financial Times reported that Meta was working on plans for both Facebook and Instagram users to be able to display NFTs on their profiles.