According to the CEO of Instagram, Adam Mosseri, the social media application is looking into non-fungible token (NFT) technology. During an ask-me-anything (AMA) session on Instagram, Mosseri said that the company wants to make NFTs “more accessible to a wider audience.”

Instagram CEO – ‘We are Definitely Actively Exploring Non-Fossil Fuels ‘

Following the firm’s parent company Facebook transforming itself into Meta, Instagram’s CEO Adam Mosseri discussed NFT technology on Saturday. This Instagram story was part a series of AMA questions that were directed at the company’s chief executive. Mosseri answered AMA questions about NFT integration with Instagram.

“Nothing is yet to be announced, but we are certainly actively exploring NFTs to make them more accessible to an even wider audience,” Mosseri explained. The Instagram CEO said, “It’s an interesting area where we can play and also a means to hopefully help creators.”

Alleged NFT Features on Instagram and Creator Week

Mosseri didn’t go any further in his Instagram Story and the CEO didn’t mention anything about NFT support. Toward the end of May, Instagram hosted its first annual “Creator Week” which showcased non-fungible tokens and NFT creators. In July, software developer Alessandro Paluzzi shared screenshots of Instagram’s alleged plans to incorporate NFTs.

#Instagram is working on Collectibles pic.twitter.com/OQLFaWSAid

— Alessandro Paluzzi (@alex193a) June 21, 2021

Furthermore, Paluzzi also shared an alleged leaked feature that allows Instagram users to bid on NFT collectibles within the app. At the same time, Paluzzi explained that Instagram would likely support Facebook’s Novi blockchain project as well as its native crypto asset. Instagram and Facebook are not the only social media platforms to explore blockchain as Twitter launched a BTC tipping feature at the end of September and said it was exploring NFT authentication.

Instagram has been saying that it was “exploring NFTs and trying to scale up to a wider audience” just like its parent Facebook. However, Instagram is very tight-lipped about these features. Three days ago, Polygon and Reddit co-founder Alexis Ohanian’s Seven Seven Six venture capital company announced the creation of a $200 million fund to bolster social media tied to Web3 and blockchain technology.

What do you think about the CEO of Instagram Adam Mosseri talking about NFTs this weekend? Comment below to let us know your thoughts on this topic.

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