Sammy Baker

Instagram Takes A Turn With New NFT Features

May 10, 2022

Instagram is said to be facing a major update as users of the social media platform will be introduced to its new NFT features.

This report was confirmed by the Instagram head, Adam Mosseri, who announced that NFTs are finally coming to Instagram this week to “help creators make a living doing what they love”.

Instagram

Meta Inc appears to be adding NFT features to other social media platforms under its umbrella, as well as Facebook, which has been rumored to incorporate these features very soon.

To understand how these NFT features would work, a Twitter video was shared where it was known that these NFTs would be referred to as digital collectibles and would be shared all over Instagram.

In addition, users who tap on the digital collectibles icon would get information on that collectible, such as its owner as well as the creator behind it.

At the moment, this update is new, which means it is only accessible to a few creators in the United States to carry out some sort of beta testing. 

After that, it would be improved and given more functionality before being made available throughout the United States and then the rest of the world as soon as possible.

Following this, Mark Zuckerberg confirmed in a Facebook post that, after NFTs have been sufficiently tested and implemented across Instagram, Meta will be bringing similar functionality to Facebook, as well as its other Meta-owned apps, which means NFTs will be all around us before we know it.

Reactions to the concept of NFTs on Instagram

Now that NFTs are gradually becoming more adopted, some have made claims that implementing NFTs on Instagram is a perfect fit and will not in any way disrupt the content activities that go on there.

While this might be true, it is also important to keep in mind that NFTs are not as simple as we may think, as they would require a lot of energy because of their link to the blockchain.

Not only that, but users of the social media platform have already stated that they own NFTs, as confirmed by the existing blockchains.

As a result, incorporating NFTs into Instagram’s functionality is to the benefit of the owners rather than the users.

However, Instagram head, Mosseri, had something quite contrary to say. In his words:

This week we’re beginning to test digital collectibles with a handful of US creators and collectors who will be able to share NFTs on Instagram.

There will be no fees associated with posting or sharing a digital collectible on IG.

With this, there is no doubt that Meta Inc is looking for ways to embrace NFTs even further, which is why it is making attempts with the introduction of NFT features on the social media platform, Instagram.

However, once the blockchain surrounding NFTs can be made to run on entirely renewable energy and be carbon-neutral, or better yet, carbon-positive, NFTs will be better embraced, especially on these platforms and across other platforms as well.