Crypto

Meta is reportedly working on plans to let users create and sell NFTs on Facebook and Instagram

Both platforms could offer ways to display NFTs, as well as options for buying and selling them.

by
Josiah Motley
January 20, 2022

Image: KnowTechie

Non-fungible tokens (NFTs) are a hot button topic right now and if there is one company known for hopping on every trend imaginable, it’s Facebook’s parent company, Meta. Now, it seems both Facebook and Instagram are looking to add NFTs to their platforms.

According to a new report from Financial Times, both Instagram and Facebook are exploring NFTs, which could lead to new features allowing users to display their NFT collections, while also providing a marketplace for buying and selling the non-fungible tokens.

If you are unfamiliar with NFTs, just look at them as various forms of artwork that live on the blockchain and can’t technically be replicated. FT’s report notes that these ideas are in the early stage, and could obviously change in the future, however.

It is somehow both surprising and not surprising that so many companies are jumping on the NFT bandwagon right now. They are a divisive topic to many people, but I mean, we are talking about Meta here. You know, one of the worst companies of 2021.

This isn’t the first time that we’ve heard that the two companies are interested in digital art on the blockchain. Back in December, Instagram head Adam Mosseri noted the company was “actively exploring NFTs.“

In addition, Meta has actively been exploring its own crypto wallet, currently called Novi. That launched in a limited rollout back in October of last year.

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