Instagram is reportedly said to be gearing up to add NFT features on its app. App developer Alessandro Paluzzi took to Twitter to leak the details. Instagram may bring its own non-fungible tokens as the platform is looking at working on Collectibles. Posts on Instagram that will offer NFTs may come with a label named “Collectible” alerting users about the NFT on the post that can be purchased.
There are no official words from Instagram yet but this could be one of keeping the promise made by Adam Mosseri, head of Instagram who said that creators will be able to make a living from Instagram.
Mosseri recently posted a video on Twitter and Instagram and said that Instagram is no longer just a photo sharing app. “At Instagram we’re always trying to build new features that help you get the most out of your experience. Right now we’re focused on four key areas: Creators, Video, Shopping and Messaging,” he said.
Mosseri says that Instagram is no longer a photo sharing or a “square photo sharing” platform and that research said people use Instagram “to be entertained”. Mosseri acknowledged that competition is tough in the segment. “TikTok is huge, YouTube is even bigger and there are a lot of upstarts in the space,” he said in the video. The head of Instagram said that over the coming months, users will see a lot of “experiments” when it comes to viewing videos on Instagram.
If Instagram goes forward with its plans to implement NFT features on the app then it may be the first major social media platform to do so and this can also give NFTs a major boost.
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