Photo and video sharing platform Instagram will begin testing non-fungible token (NFT) integration starting this week, Meta CEO Mark Zuckerberg said in a video on 9 May.
During an interview with Impact Theory’s Tom Bilyeu the CEO of Meta revealed that creators and collectors will now be able to use NFTs as their profile picture. Zuckerberg noted that this trial was the first step to allowing users to use NFTs on all other Meta apps — WhatsApp, Facebook, and Messenger — and that we could soon see a similar functionality being introduced to Facebook. Zuckerberg said in a post:
“Enjoyed talking to Tom Bilyeu about NFTs, web3 and the metaverse. This week we’re starting to test digital collectibles on Instagram so creators and collectors can display their NFTs on their profile. Similar functionality is coming to Facebook soon.”
Meta’s CEO also revealed that the company was working on augmented reality NFTs — “basically 3D NFTs” — which will eventually allow users to bring their digital collectables to Instagram Stories using Spark AR, Meta’s augmented reality platform. Zuckerberg explained that this move would enable creators to put their digital collectibles in 3D spaces, and eventually project them “onto physical spaces as well”.
Rumors of Meta’s plans to integrate NFT functionality into Facebook and Instagram first appeared in January, when the Financial Times cited “several people familiar with the matter”. At the time, the sources also said the company was discussing the launch of its own NFT marketplace.