As the Instagram updates its features regularly, yet another testing is in the pipeline to go live. Instagram’s head Adam Mosseri announced that the platform is going to start testing NFTs with select creators in the United States. Mosseri tweeted that there will be no fees associated with posting or sharing a digital collectible on Instagram.
He said, “One of the challenging things that we need to solve as an industry is to how to help creators make a living doing what they love.”
“I want to acknowledge upfront that NFTs and blockchain technologies are all about distributing trust and distributing power,” Mosseri said in his announcement. “But Instagram is fundamentally a centralized platform, so there’s a tension there. So one of the reasons why we’re starting small is we want to make sure that we can learn from the community. We want to make sure that we work out how to embrace those tenets of distributed trust and distributed power, even though we are, yes, a centralized platform. We think that one of the unique opportunities we have is to make web3 technology accessible to a much broader range of people. And NFTs specifically we think will be interesting not only to creators who create NFT art but also to people who want to collect it.”
Creators and people who are part of the test can now share NFTs that they’ve made or that they’ve bought. They can share these NFTs in the main Instagram feed and stories. Mosseri said that only a limited number of people have access to the Instagram test, but the company plans to roll out more functionality related to NFTs in the future once it gets feedback from its initial testing.
As reported by TechCrunch, Instagram told TechCrunch in an email that the creators who are part of the initial NFTs test include @adambombsquad, @bluethegreat, @bossbeautiesnft, @c.syresmith, @cynthiaerivo, @garyvee, @jenstark, @justmaiko, @maliha_z_art, @misshattan, @nopattern, @oseanworld, @paigebueckers, @phiawilson, @swopes and, @yungjake.
Instagram’s NFT comes after Twitter’s NFT profile picture. While the feature is going to go live only for US users, for now, we can expect more NFT features from other social media platforms in the coming times.
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