Adam Mosseri, Head Of Instagram, Remains Optimistic On NFT Even Though Features On IG Are Removed

JAKARTA - Instagram held its first Creator Innovation Summit on October 4, 2023. It aims to provide education for creators to learn more about brand development, Instagram tool optimization, and the use of advanced technology. During this event, Adam Mosseri, head of Instagram, revealed that he is still "optimistic with NFT" (Non-Fungible Token).

In March 2023, Instagram announced that it would remove NFT support features across platforms, which surprised many at the time. However, Mosseri explained why it remains "bullish" against NFT, despite the removal of the feature. According to him, the NFT feature is not a significant revenue driver for all creators, and the removal was done for larger economic reasons.

The Creator Innovation Summit organized by Instagram also features various keynote speakers, including Dave Krugman and Larissa Gargatoro, along with prominent figures from various fields, such as photography, filmmaking, technology development, and artificial intelligence.

During one of the discussion panels, Mosseri discussed the topic of artificial intelligence (AI) and the potential use of AI chatbots by creators. He questioned whether creators should consider creating an AI version of themselves, despite realizing that this might make sense to some creators and not to others.

Mosseri highlighted the importance of suitability of AI chatbots with core interests and values of its creators, as well as challenges in ensuring that the AI does not accidentally promote competitors.

He also mentioned how many messages and requests creators received, and revealed that well-trained AIs could help manage this communication.

Although still in its early stages, Meta (inducting an Instagram company) plans to launch an AI chatbot with a different personality to increase engagement across its social media platforms.

This chatbot will imitate various characters and provide recommendations to users. Mosseri remains optimistic about its potential benefits if it manages to overcome existing challenges.