Instagram is “actively studying” NFTs, says CEO

Could Instagram’s entry into NFTs actually make these tokens more accessible? (Image: Unsplash/Solen Feyissa)

As reported by Decrypt, Instagram CEO Adam Mosseri said the social network is “actively studying” non-fungible tokens (NFTs).

In your own account on Instagram, Mosseri said:

There’s nothing to announce yet, but we are definitely actively exploring NFTs and how we can make them more accessible to a wider audience.

According to Decrypt, in May this year, the social network presented a panel for NFT creators. The panel aimed to help digital content creators expand their reach on the social network and monetize their content.

In early December, former Instagram executives Tinder and Stripe announced a $50 million crypto fund, with a focus on design and practical advice to crypto founders.

For Jeff Morris, former vice president of products at Tinder and co-founder of the crypto fund, “there are many things that work in Web 2.0 that can be incorporated into Web 3.0.”


Source From: Moneytimes

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