Meta boss Mark Zuckerberg says NFT is coming to Instagram in a big way at SXSW

Promote your feed, everyone: NFT is coming to Instagram.

Within the next few months, non-fungible tokens will be introduced on the social media platform, according to Mark Zuckerberg, who was scheduled to announce the news during a conversation with businessman Daymond John. on Tuesday at Austin’s SXSW.

While the Meta CEO is tight-lipped about the specifics of the plan, which is still in its early stages, Financial Times ran a report in January documenting the hope that users could display NFT as a profile picture, “mint” NFT, and eventually establish a marketplace for buying and selling digital tokens.

The plans are said to be progressing rapidly, with sources saying Financial Times that internal testing has been conducted on how users can display their NFTs.

Zuckerberg was participating in a discussion about the Metaverse and the changing landscape of digital culture when he confirmed the speculation. “We talked about things like NFT and the possibility that, you know, in the long run, I hope that the outfit your avatar is wearing in the Metaverse can be molded into NFT and you can wear it. going between different places,” he said during the hour-long conversation.

He added: “I think there are a lot of technical things that need to be worked on first. “But we are working on bringing NFT to Instagram in the near future. I’m not ready to announce exactly what today will look like, but over the next few months, [people will have] the ability to put some NFTs in and hopefully over time can sort things out in that environment. ”

Zuckerberg points to his own shopping habits as justification for continuing to turn Instagram into a shopping platform, saying “probably most of the things I wear, I probably bought through Instagram or Facebook Shops.” or advertising.”