JAKARTA - Meta CEO Mark Zuckerberg has again announced his latest ambition that Instagram users may soon be able to print Non-Fungible Token (NFT) tokens on the social media platform.
"We're working on bringing NFT to Instagram in the near future," Zuckerberg said at the South by Southwest (SXSW) conference yesterday.
Unfortunately, Zuckerberg didn't specify exactly how the NFT would take shape, but he did state Instagram users could showcase their existing NFTs and potentially create new ones.
"I'm not ready to announce exactly what's going to happen today. But over the next few months, the ability to carry some of your NFTs, hopefully over time can produce things in that environment," Zuckerberg said.
Additionally, Zuckerberg hopes that avatar outfits in the metaverse can be printed as NFTs as well, which is already common in the overall space and a lucrative business for blockchain-based play-to-earn companies.
Cited from Engadget, Wednesday, March 16, Zuckerberg's statement is certainly not surprising. Previously Head of Instagram Adam Mosseri has also expressed interest in NFT and is actively exploring the technology.
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The Financial Times reported in January that Instagram hopes to add NFT to its Novi crypto wallet. Furthermore, Zuckerberg also stated that NFT could one day play a role in the company's metaverse.
“I hope you know, the clothes your avatar wears in the metaverse, you know, can basically be printed as NFT and you can take them to different places. There are things that need to be worked out before it really goes smoothly," Zuckerberg said.
Zuckerberg's new ambition is allegedly because the market for NFT has soared in the last 30 days. According to DappRadar, OpenSea is one of the largest NFT markets, seeing a volume of more than USD 2 billion.
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