Instagram planning to enter in NFT

Instagram Is Looking To Create An NFT Platform

Instagram’s Chief Adam Mosseri Stated that the Company is Looking into NFTs

NFT is a way to represent anything unique as an asset.

NFTs are blockchain based tokens that can be used to represent ownership of unique items. NFT can only have one official owner at a time and they're secured by the blockchain.

No one can modify the record of ownership or copy/paste a new NFT into existence.

“I think it is an interesting place that we can play and also a way to help creators hopefully,” Instagram CEO Adam Mosseri

“Nothing to announce yet, but we are definitely actively exploring NFTs and how we can make them more accessible to a broader audience. I think it’s an interesting place that we can play and also a way that hopefully help creators.” Instagram CEO Adam Mosseri

In July Alessandro Paluzzi shared details“Instagram posts that will offer NFTs may come with a label named “Collectible” to alert users about the NFT they purchased. However, the platform had not confirmed these details.”