Instagram is actively exploring non-fungible tokens (NFTs) and how the platform can make it more accessible, Chief Adam Mosseri said on Saturday.
In an Instagram Q&A posted to his Stories, Mosseri, replying to a question about his thoughts on integrating NFTs into Instagram said, “Nothing to announce yet but we are definitely actively exploring NFTs and how we can make them more accessible to a broader audience.”
“I think it is an interesting place that we can play and also a way to hopefully help creators,” added Mosseri.
Reports regarding the Meta-owned photo sharing app working on NFTs had circulated earlier this year. App developer Alessandro Paluzzi in July had shared details about the possibility of Instagram bringing its own non-fungible tokens as the platform was looking at working on Collectibles.
According to Paluzzi’s tweets, Instagram posts that will offer NFTs may come with a label named “Collectible” to alert users about the NFT that they purchased. However, the platform had not confirmed these details.
New features
Separately, Instagram launched a host of new features this week including Playback, Reels replies and profile embed.
The IG playback feature lets users share their favourite stories from 2021 and show them again in a montage.
The Reels visual replies feature lets users take a comment and create a reel from that comment.
With profile embeds, Instagram is extending the ability to embed photos and video posts on the platform on websites to user profiles. Rolling out in the United States, the feature lets users embed a “miniature version” of their Instagram profile on a website.
