Facebook's Meta is experimenting with NFT marketplace on Instagram

English Jan 20, 2022

Meta, the company formerly known as Facebook, apparently has new ideas for entering the non-fungible token market, according to the Financial Times.

With unnamed sources, the respected news outlet said the company is preparing a feature that will allow users to issue and sell NFTs. Facebook and Instagram users will also be able to display their NFT collections on their profiles.

In December, Instagram CEO Adam Mosseri stated that the company was actively exploring NFTs and how it could make them more accessible to a wider audience.

Earlier this year, the company hosted a panel for NFT creators to help raise awareness of how to use the technology.

NFTs are also expected to be featured in the metaverse, technology that simulates the world in a virtual way, in which Facebook is very interested. And, because it is a totally digital environment, there is a need to establish the non-fungible property of objects.

Tags

Morel Hernandes

Writer passionate about politics, economics, blockchain and crypto-currencies.