Mark Zuckerberg the CEO of Facebook’s parent company Meta, announced that the company is starting to test digital collectibles on Instagram, indicating a move toward NFTs.
He stated the move to test digital collectibles on Instagram was the first step toward allowing creators and collectors to display NFTs on other apps under Meta’s control which include WhatsApp, Facebook Messenger and Facebook.
The move would allow Instagram users to display NFTs as profiles as Twitter first announced in September 2021 that its users would be able to do and then, while rolling out iOS support for NFT hexagonal avatars in January.
Since rebranding from Facebook to Meta in October 2021, the social media company has announced many initiatives targeted at cryptocurrency and metaverse users. Though the Diem Association shut down its digital currency project Diem formerly Libra in February, Meta also opened the doors for a brick and mortar metaverse themed retail store in the San Francisco Peninsula.
