Meta Corporation plans to integrate non-fungible tokens into social networks Facebook and Instagram, and is also working on a prototype platform that allows issuing NFTs. Writes about it Financial Times with reference to informed sources.
Two interlocutors of the publication added that Meta is discussing the launch of an NFT marketplace.
The initiatives are at an early stage, so the corporation’s plans may change. However, two people familiar with the details of the discussions said that Instagram is internally testing the NFT display feature on user profiles.
In December 2021, Instagram head Adam Mosseri declaredthat the company is “actively investigating NFTs” but did not disclose details.
According to the FT, the project to integrate non-fungible tokens into the social network was originally initiated by Instagram product director Christine George and Meta’s head of payments David Marcus. The latter left the company in 2021 and was replaced by former Upwork CEO Stefan Kasriel.
The source of the publication emphasized that the Novi digital wallet will be essential for the implementation of NFT-focused initiatives:
“Many of the Novi-related helper features will be used to work with NFTs.”
Recall that the head of the Metaverse Product Group, Vishal Shah, said that the project will support NFT, facilitating the sale of these digital objects and allowing them to be displayed in three-dimensional spaces.