Meta chief Mark Zuckerberg said 3D NFTs will be introduced to Instagram in the future. Users can view NFTs in a physical space.
In a conversation with web3 entrepreneur Tom Bilyeu, Meta CEO Mark Zuckerberg revealed that Instagram has begun testing NFTs. One of Meta’s other platforms, Facebook, will soon adopt similar functionalities. Augmented reality NFTs will be brought to Instagram Stories via the firm’s Spark AR technology, allowing users to project digital art into physical spaces, Zuckerberg added.
When promoting the new functionalities, the Instagram head also commented on the tension between large companies like Instagram and Web3 firms operating on the principle of decentralization. “I want to acknowledge upfront that NFTs and blockchain technologies and Web3 more broadly are all about distributing trust, distributing power. But Instagram is fundamentally a centralized platform, so there’s a tension there.”
Instagram will let users share NFTs in their main feed as well as stories and in messages by linking third-party digital wallets, including Rainbow, MetaMask, and Trust Wallet – with Coinbase, Dapper, and Phanton available soon. Reportedly, NFTs built on major blockchains, such as Ethereum, Polygon, Solana, and Flow, could be displayed on Instagram for now since they account for the majority of the market.
The social media giant confirmed that users will not be charged fees for posting NFTs. Expectedly, the rollout of this new feature will speedily drive the mainstream adoption of NFTs and crypto wallets, as Instagram has more than a billion users around the world.
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