NFT Era Begins: Instagram Will Become NFT Marketplace!

Main owner of Facebook, Instagram and Whatsapp Metatoday NFT made a very important statement about their development.

According to Meta’s announcement today, software developers, Instagram works for the production and sale of NFT. The company plans to make Instagram, which has hundreds of millions of users, an NFT marketplace.

Stephane Kasriel, one of the meta fintech department managers, explained the details of the recently announced Instagram NFT developments. Kasriel stated that they will soon begin testing the NFT marketplace with a small group of digital artists. Artists will be able to produce NFTs on Instagram and then offer them for sale.

It has also been announced who is in the digital artist group chosen by Meta. Among the selected artists DrifterShoots, Ilse Valfre and Amber Victoria including well-known names.

Instagram for NFT infrastructure in the past months polygon announced that it will use the blockchain. social media platform, OpenSea It will also provide data flow from the marketplace.

Social Media Platforms Rename NFTs!

Meta avoids using the word “NFT” in its statements today and in the past.

The company calls NFTs a “digital collection” rather than by its own name. A similar approach is one of the largest discussion platforms. reddit also adopted. The number of users interacting with NFTs on Reddit has exceeded 3 million as of this month.

While the NFT market is so stagnant, it is a matter of curiosity what is behind this success of Reddit. Some experts in the industry think that the “NFT” naming does not reassure investors.