Meta is working on support for non-fungible tokens (NFTs) for Instagram as Facebook's parent company is moving toward the Web3 space. In a conversation at SXSW, Mark Zuckerberg revealed that the company is currently working on bringing NFTs to Instagram, TechCrunch reports.
He didn't elaborate about when exactly the social giant might get this new feature, but noted that the changes will come "in the near term." He added:
I'm not ready to announce exactly what that’s going to be today, but, over the next several months, the ability to bring some of your NFTs in, and hopefully over time be able to mint things within that environment.
This is far from the first time Meta discusses NFTs as part of its brand. In December last year, Instagram CEO Adam Mosseri said during an AMA that the company wants to find out how it can make NFTs “more accessible to a wider audience.” He said:
Nothing to announce yet but we are definitely actively exploring NFTs and how we can make them more accessible to a wider audience.
In January, To The Moon reported that Meta is preparing for "deep compatibility" with blockchain. Andrew Bosworth, a key executive at Meta, hinted in the internal post that the social network will work closely with blockchain and cryptocurrency technologies.