If you like your tokens, uh, non-fungible, then keep an eye on Instagram this week, as the social media giant is rolling out a unique feature set.
Instagram will begin incorporating features specific to NFT adopters any day now, as revealed in an official interview with CEO Mark Zuckerberg. What does this mean exactly? Certain US-based Instagram users will receive the ability to display NFTs on their feed, and in their stories and messages.
These details are available to other users by looking at profiles and posts, as NFTs are displayed similarly to products and other tagged profiles. Clicking on the NFT tag leads you to details regarding the creator of the digital item and its current owner. This information will also be displayed in a new field called “digital collectibles.”
Instagram head Adam Mosseri confirmed the move in a tweet and video posted today, in which he noted that the company is starting slow so they can gather information from the community of users.
Mosseri also noted that the service would be free for now, with no fees associated with posting or sharing a digital collectible on Instagram, though he did not say when these features would roll out to a larger audience.
As for Facebook, Zuckerberg said that similar features will be rolling out to the platform, but did not offer a timetable. He did say, however, that Facebook and Instagram would be leveraging the power of their Spark AR platform to allow users to create and distribute augmented reality NFTs.
NFTs are in something of a slump these past few weeks, though, as news began leaking via the Wall Street Journal and other platforms that sales of these digital items declined more than 90 percent since September of last year.
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