One of the most used social media platforms Instagramconfirmed that they are “actively investigating” the crazy trend of NFTs. Earlier today, Instagram’s CEO, Adam Mosseri, is on the globally trending social media platform. NFTHe used the “story” feature to determine the future of the .
While no official announcement has been made regarding the inclusion of NFTs, the CEO has claimed that Instagram’s goal is to make the tokenized space more accessible to the masses. He also stated that Instagram tries to help its creators through NFTs.
“There’s nothing to announce yet, but we’re 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 be involved, and also a way we hope will help creators.”
Is Instagram following TikTok’s approach?
Although there is no doubt about the dominance of Instagram, which has stood out as one of the most used applications since the pandemic began, the platform’s rival TikTok is thought to follow the NFT approach. Mosseri’s comments on NFTs on Instagram determined that, like TikTok, Instagram will promote its viral influencers and content in a specified format.
At the beginning of the last quarter of this year, TikTokannounced the launch of “TikTok Best Moments,” the first NFT series to claim the benefits of the ongoing NFT craze and help its creators add an extra revenue stream.
The short video platform has announced the auction of tokenized versions of popular, “community-defining” videos by viral TikTok creators. The “TikTok Best Moments” NFT series consists of six “culturally significant” TikTok videos from its creators.
“The creation that happens on TikTok helps drive culture and initiates trends beyond the platform. As the creator economy continues to grow, we are constantly looking for new and different ways to support our creators.
Now fans can have a moment at TikTok, which has helped shape the internet while supporting some of their favorite creators. “We’re excited to see how our community and NFT communities interact with some of the internet’s most beloved cultural milestones,” said Nick Tran, Head of Global Marketing, TikTok.