Zuckerberg "Working on Introducing NFTs to Instagram"
[Asia Economy Reporter Jeong Hyunjin] Mark Zuckerberg, CEO of Meta Platforms, the parent company of Facebook, announced on the 15th (local time) that he plans to introduce non-fungible tokens (NFTs), a virtual asset attracting investment attention, to Instagram.
According to Bloomberg News, CEO Zuckerberg said at the South by Southwest (SXSW) film, media, and music festival held in Austin, Texas, "We are working to enable the use of NFTs on Instagram in the near future," but added, "I am not ready to announce exactly what that will look like today."
Fortune reported that CEO Zuckerberg hopes to allow avatars (digital representations) used in the metaverse to have outfits created as NFTs. However, he added that many technical issues must be resolved first to achieve this.
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Previously, there were consecutive reports indicating Meta's interest in NFTs. Following Instagram CEO Adam Mosseri's statement last year that he was actively exploring NFT technology, reports emerged in January that Facebook and Instagram were working on NFT integration, and Meta was discussing launching an NFT marketplace where users could create and sell NFTs.
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