Mark Zuckerberg planning to launch NFTs on Instagram

As NFTs are all the rage these days, Facebook chief executive officer (CEO) Mark Zuckerberg is planning to let Instagram users mint non-fungible tokens (NFTs) on the social media platform.

As per The Verge, Zuckerberg made the announcement at the session at South By Southwest, but did not provide a specific date for when NFTs might drop on Instagram.

For the unversed, non-fungible tokens (NFTs) are a digital certificate of ownership of a piece of digital asset that can be bought and sold.

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During his speech, Mark stated that he hopes one day that users will be able to mint the clothes of their digital avatars as NFTs, but admitted there is still work to do before that can happen.

Instagram won’t be the first major social network with an NFT integration. Earlier this year, Twitter introduced a feature that let some users set an NFT they own as their profile picture.

• Americas