Instagram to soon have NFTs

• Mark Zuckerberg confirms NFTs will be available on Instagram soon.
• Mark Zuckerberg, however, says there’s a bunch of technical things that need to get worked out before.
• NFTs allow users to buy and sell ownership of digital items.

Meta CEO Mark Zuckerberg has announced that non-fungible tokens (NFTs) will now be available on the social media platform, reported The Daily Beast.

According to The Verge, NFTs allow users to buy and sell ownership of digital items, keeping a  track of who owns them using the blockchain.

NFTs — despite being a relatively new concept — have gained a lot of popularity recently with some people even making millions of dollars.

During a discussion about the Metaverse, Zuckerberg hinted towards the arrival of NFTs on Instagram. 

The Meta CEO, however, did not reveal much information about the plan.

“I think that there’s a bunch of technical things that need to get worked out before,” he said. 

"I’m not ready to announce exactly what that’s gonna be today but, over the next several months, [people will have] the ability to bring some NFTs in, and hopefully over time be able to mint things within that environment," he added.

Earlier, Financial Times had noted that there might be a chance for users to use NFTs even as display pictures. 

Zuckerberg plans to further turn Instagram and Facebook into shopping platforms saying that he himself bought most of his “stuff” via ads on these applications.