According to Mark Zuckerberg, CEO and founder of Meta, the tech conglomerate is experimenting with digital collectibles on two of its biggest social media brands.
Zuckerberg says that initially Meta will not fungible tokens (NFTs) on Instagram and then Facebook before expanding NFTs to other apps.
“We’re beginning to develop NFTs not only in our Metaverse and Reality Labs work, but also across our entire family of apps.
And one of the new things I wanted to announce and share today is that we’re starting to test digital collectibles on Instagram for creators and collectors to show off their NFTs…
I’m really excited to test this out. We’ll be bringing similar features to Facebook soon. And then maybe to other apps in our family.”
Zuckerberg also says Meta is working on features that will allow content creators to post 3D NFTs to Instagram stories using their augmented reality platform (AR) Use Spark AR Studio.
“As you know, we’re also going to be working on augmented reality NFTs, basically 3D NFTs that you can bring to Instagram Stories with Spark AR.”
According to Zuckerberg, expression and profit are two of the most important factors driving digital collectibles.
“I think a big part of it revolves around the expression of saying something about yourself. What do you want on your profile? What is the collection you want to show?
And maybe there’s a financial component to that and that people have bought these things and maybe they want to sell them at some point.
But a lot of it has to do with expression. Certainly in the context of a social network that makes sense.”
The CEO signaled that Instagram would integrate NFTs about two months ago, although he didn’t reveal the exact launch date at the time.
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Source: Crypto News Deutsch