After every artist and hip brand jumped on the NFT hype train, Instagram NFTs will be a thing very soon.
The head of the Facebook owned platform, CEO Adam Mosseri, confirmed on Saturday what many expected: that, as part of Facebook’s rebranding into Meta and pivoting towards the metaverse, Instagram wants to be the place where NFTs are posted and hopefully traded.
“Nothing to announce yet, but we are definitely actively exploring NFTs and how we can make them more accessible to a wider audience. I think it’s an interesting place where we can play, and also a way to hopefully help creators,” announced Mosseri in an Instagram story.
This year, NFTs exploded in popularity and reached total sales of $12 billion, helped by companies like Adidas and Nike jumping onto the tech.
These one-of-a-kind, digitally signed artworks are considered by many to be the future of art and one of the ways people of the future will personalize their metaverse space.
On Twitter, the Bored Ape NFTs are already one of the more popular ways celebrities are signaling status, from DJ Khaled to Post Malone and DJ Khaled. Right now, the cheapest Bored Ape NFT goes for 49 ether, which converts to around $231,000, a whopping price which has convinced many to start buying any type of NFT art they can afford in the hope of huge gains.
It’s Instagram’s hope to become the digital museum and broker of such artwork, so it will be interesting to see what features they’ll announce.