Non-fungible tokens (NFTs) a non-interchangeable unit of blockchain stored data, that has come to be an important digital ledger that can be traded.
The iteration of the internet known as the Metaverse is a project many tech companies are latching on and of note is Facebook now Meta direct investment in the project culminating in the name change.
Meta Inc CEO adequately availed of the importance of the NFTs to the Metaverse mention has confirmed that the digital collectibles would be coming to Instagram ‘in the near term’.
He said while announcing the launch of the move:
“We’re working on bringing NFTs to Instagram in the near term,” he said. He didn’t detail exactly how that would take shape, but suggested people would be able to show off their existing NFTs and potentially mint new ones. “I’m not ready to kind of announce exactly what that’s going to be today. But over the next several months, the ability to bring some of your NFTs in, hopefully over time be able to mint things within that environment.”
Mark Zuckerberg and of course his other Meta Inc executives had in the past shown interest in NFTs and this was largely evident when Instagram head, Adam Mosseri averred that the company would be ‘actively exploring’ the technology. This is in direct alignment with the Financial Times January report that revealed that the company would be looking to add NFTs into Novi, it’s crypto wallet.
Zuckerberg in a speech on Tuesday opined that NFTs would one day plat a vital role in the company’s eventual metaverse.
“I would hope that you know, the clothing that your avatar is wearing in the metaverse, you know, can be basically minted as an NFT and you can take it between your different places,” he said, “There’s like a bunch of technical things that need to get worked out before that’ll really be seamless to happen”, he said.
The Meta Inc CEO also shared an insight into how he performs most of his shopping on Instagram and Facebook.
“Probably most of the stuff that I wear, I probably bought through an Instagram, or Facebook Shops or ads,” he said.
Ayoola Faseyi, an Abuja based Journalist with interest in Technology and Politics. He is a versatile writer with articles in many renowned News Journals. He is the Co-Founder of media brand, The Vent Republic.
