Mark Zuckerberg, CEO of Meta, said during the South By Southwest festival that NFT support will be coming to Instagram in the coming months. He also expressed the hope that they will be able to be used as well as released.
We had been anticipating the introduction of non-fungible tokens to the Meta platforms. Last year, Instagram’s CEO, Adam Mosseri, stated that the company was looking at the possibilities of NFT but would not make any announcements. It was claimed in January that Facebook and Instagram experts were already working on this issue, with the expectation that platform users will be able to use NFT images as profile pictures, issue tokens on their own, and even sell them.
Mr. Zuckerberg has not provided any details to date, and it is unclear how NFTs will work on Instagram: in theory, it could be possible to sell the most popular posts or use tokens as a pass for limited-access Stories. The organisation of its own marketplace, such as OpenSea, is perhaps the most appealing from a commercial standpoint. Of course, we must not overlook the metaverse’s technological foundation, which would be incomplete without NFT.
Instagram will not be the first large site to offer non-fungible tokens; they first emerged on Twitter in January, when users were able to use their own photos as profile pictures. In contrast to traditional circular avatars, NFT images are hexagonal in shape.
The Prosecutor General’s Office demanded that Meta Platforms Inc. be recognised as an extremist organisation and its activities in the Russian Federation be banned, and Roskomnadzor began blocking Instagram in Russia in response to Meta’s permission for Facebook and Instagram users to call for violent acts against Russians, including military personnel. Now, Instagram’s CEO, Adam Mosseri, has commented on these moves.
So, “This decision cuts off 80 million people in Russia from each other and from the rest of the world”. The head of Instagram about blocking the social network
Instagram was prohibited in Russia on Monday. Because around 80% of Russians follow Instagram profiles outside their own nation, this choice isolates 80 million individuals in Russia from each other and the rest of the globe. This isn’t correct.
Intriguingly, several users in the comments section of this page express remorse for the Russian regulator’s decision while also criticising Meta’s choice to allow demands for violent attacks against Russians. In his reply, Adam Mosseri chose not to identify the cause for Instagram’s restriction in Russia. Recall that on March 14, Russia’s social network was totally prohibited.