Social media giant Meta is reportedly looking into giving users the option to create, display and sell NFTs.
At this point, what isn’t Meta – formerly Facebook – trying to do? According to a report from The Financial Times, the tech giant’s reported next move is to give users on Facebook and Instagram the ability to create, advertise and sell non-fungible tokens, or NFTs. NFTs are non-interchangeable units of data that are stored on a blockchain.
The Financial Times reports plans for the NFTs are “at an early stage and could yet change.” Nevertheless, Facebook and Instagram are “readying” a feature that will let users display NFTs as their profile pictures, as well as working on a prototype to let users mint new NFTs. Others at Meta are reportedly discussing “launching a marketplace for users to buy and sell NFTs.”
This isn’t the first time we’ve heard about Meta’s interest in NFTs. Last December, Instagram chief Adam Mosseri said the company is “actively exploring NFTs and how we can make them more accessible to a wider audience,” while last October Meta CEO Mark Zuckerberg spoke about how the metaverse will need to support “ownership of digital goods or NFTs.”
If this all comes to fruition, what would y’all store on an NFT and sell on Instagram?