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Instagram Is ‘Exploring NFTs’ to ‘Make Them More Accessible to a Wider Audience,’ Says CEO

News Feed - 2021-12-21 08:12:09

Instagram Is "Exploring NFTs" to "Make Them More Accessible to a Wider Audience," Says CEO


According to the CEO of Instagram, Adam Mosseri, the social media application is looking into non-fungible token (NFT) technology. During an ask-me-anything (AMA) session on Instagram, Mosseri said that the company wants to make NFTs “more accessible to a wider audience.” Instagram CEO: ‘We Are Definitely Actively Exploring NFTs’


Following the firm’s parent company Facebook transforming itself into Meta, Instagram’s CEO Adam Mosseri discussed NFT technology on Saturday. The Instagram story was part of a series of AMA questions directed at the company’s lead executive. When asked his thoughts on NFT integration with Instagram, Mosseri explained the company was looking into the idea.


“Nothing to announce yet, but we are definitely actively exploring NFTs and how we can make them more accessible to a wider audience,” Mosseri elaborated. “I think it’s an interesting place where we can play, and also a way to hopefully help creators,” the Instagram CEO added. Alleged Instagram NFT Features and Creator Week


Mosseri did not go further in his Instagram story and the CEO did not mention any specifics about the company adding NFT support. Toward the end of May, Instagram hosted its first annual “Creator Week” which showcased non-fungible tokens and NFT creators. In July, software developer Alessandro Paluzzi shared screenshots of Instagram’s alleged plans to incorporate NFTs. #Instagram is working on Collectibles 👀 pic.twitter.com/OQLFaWSAid


— Alessandro Paluzzi (@alex193a) June 21, 2021



Furthermore, Paluzzi also shared an alleged leaked feature that allows Instagram users to bid on NFT collectibles within the app. The developer also explained at the time that Instagram would likely support Facebook’s Novi blockchain project and native crypto asset. Instagram and Facebook are not the only social media platforms to explore blockchain as Twitter launched a BTC tipping feature at the end of September and said it was exploring NFT authentication.


Besides saying Instagram was “exploring NFTs” and trying to scale to a “wider audience,” much like its parent Facebook, Instagram is pretty tight-lipped about such features. Three days ago, Polygon and Reddit co-founder Alexis Ohanian’s Seven Seven Six venture capital company announced the creation of a $200 million fund to bolster social media tied to Web3 and blockchain technology. Tags in this story Adam Mosseri, Alessandro Paluzzi, Blockchain, Crypto, explore blockchain, Facebook, Instagram, Instagram CEO, Instagram Creator Week, Instagram NFT, nft, NFT Instagram, NFTs, Non-fungible Token, Reddit, Reddit co-founder, Social Media, social media platform, Twitter


What do you think about the CEO of Instagram Adam Mosseri talking about NFTs this weekend? Let us know what you think about this subject in the comments section below. Jamie Redman


Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 4,900 articles for Bitcoin.com News about the disruptive protocols emerging today. Radioshack Goes Defi in Its Latest Iteration NEWS | 15 hours ago Financial Services Company SBI Group Launches Diversified Crypto Fund in Japan NEWS | 1 day ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleThe First Interactive NFT in the World – VR Movie on Mars Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItTony Hawk Launches "Last Trick" NFT Collection to Commemorate Career and Signature Moves


Following the American professional skateboarder Tony Hawk’s first non-fungible token (NFT) sale on the NFT marketplace Autograph, Hawk is commemorating his career with a new series of NFTs called the “Last Trick” collection. The popular skateboarder’s latest digital collectibles showcase ... read more.Crypto Lender Nexo Launches NFT Lending Desk, Loans up to 20% for Popular NFTs Snoop Dogg, Deadmau5 and NFTs — The Sandbox Alpha Game Review Value Locked in Defi Continues to Slide, ETH Defi Dominates by 65%, Solana Transactions Reign Canaan Secures Order for 30,000 Bitcoin Mining Rigs From Genesis Digital Assets

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