Thursday, September 28, 2023
HomeImmutableXZuckerberg Says Instagram to Become an NFT Marketplace

Zuckerberg Says Instagram to Become an NFT Marketplace

At the panel last week at Austin’s South by Southwest Festival, Mark Zuckerberg said, “We’re working on bringing NFTs to Instagram in the near future.” With Facebook changed to Meta, this announcement isn’t surprising. NFT It will be an integral part of the Metaverse.

Instagram becomes NFT marketplace

Mark Zuckerberg on the panel during the conversation Damond John,He said. “I’m not ready to announce exactly what I’m up to today, but I hope in the coming months we’ll be able to introduce some of the NFTs and mint things over time. . In that environment. “

Zuckerberg’s statement only confirms what Instagram CEO Adam Mosseri said in December 2021. At that time, Mosseri said: .. We hope it is an interesting place to play and help creators. “

With few announcement details, one thing we can guess is that NFTs have yet another platform that can be mint and sold. As the NFT market is expanding, Meta / Instagram was expected to enter the market.according to Deloitte, Sports-only NFT sales are expected to reach $ 2 billion in 2022, but it’s worth mentioning again that sports-only. OpenSea reported sales of $ 4 billion in January 2022, at which rate 2022 will exceed $ 24.9 billion in 2021.

There is so much money in the market and more players are entering the market, including TikTok, which may have boosted Instagram’s announcement.

TikTok and NFT

The growth of TikTok is amazing and the company continues to innovate in new ways to interact with its users. In October 2021, Tik Tok launched the NFT series Tik Tok Top Moments.

TikTok brings unique and groundbreaking moments by curating special milestones on its platform.according to society“TikTok Top Moments features a selection of culturally important TikTok videos of the most beloved creators on the platform. These notable creators, famous for their cultural influences, are One-of-one and We are affiliated with a well-known NFT artist in Limited Edition NFT. “

One-of-one NFTs will be auctioned at Layer 1 Ethereum. Limited edition NFTs are sold on Immutable X (Layer-2) and have the advantage of zero gas charges.


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