Instagram, which we once used only to share photos with our friends, is now on its way to becoming an NFT platform. The platform, which currently opens doors for those who want to sell, is moving in line with Meta’s future plans. Here are the details…
Instagram is bringing NFT support this week!
The founder and current manager of Instagram, Adam Mosseri, gave the good news in a post he made on his social media accounts today. He said that they have been working on NFT sharing in the Instagram application for a long time and will start testing it with some US content producers this week.
In a statement on the subject, Adam Mosseri said:
This week, we’re starting to test digital collectibles with a handful of US creators and collectors who can share NFTs on Instagram. There will be no fees for posting or sharing a digital collection on Instagram.
It was predicted that Instagram would take such a step towards NFT. Because in the past period, companies that were restructured under the roof of Meta instead of Facebook announced their support for crypto and NFT one by one. Although Instagram was once a place where we only shared photos, it has started to evolve to keep up with the times.
Of course, Meta’s concept of Metaverse is still very new. There are only a few steps in the future plans. But it is greatly supported by 3rd party developers and manufacturers. The trend of NFT markets, products and collections has been on a decline recently. So much so that some pieces that sold for millions of dollars currently only reach bids of 10 percent of their value.
For this reason, it is said that the market may revive with the new support to be brought by Instagram. More NFTs will now appear. For this reason, more people will make offers to buy. Therefore, prices are expected to increase.
However, we have to say that some criticisms of Instagram are quite appropriate. For example, proper application integration on iPads has not been achieved for years. For this reason, investors who take many things like this into account, state that they want to see concrete results before taking a step in this area.
What do you think about this issue? Don’t forget to share your feedback with us on the SDN Forum or in the comments!
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