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Instagram Plans NFT Marketplace Feature In The App

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The CEO of Instagram, Adam Mosseri said that the social media application is looking into non-fungible token (NFT) technology, he revealed this during an ask-me-anything (AMA) session on Instagram, Mosseri said that the company wants to make NFTs “more accessible to a wider audience.”

Following the firm’s parent company Facebook transforming itself into Meta, Instagram’s CEO Adam Mosseri discussed NFT technology on Saturday. The Instagram story was part of a series of AMA questions directed at the company’s lead executive. When asked his thoughts on NFT integration with Instagram, Mosseri explained the company was looking into the idea.

“Nothing to announce yet, but we are definitely actively exploring NFTs and how we can make them more accessible to a wider audience,” Mosseri elaborated. “I think it’s an interesting place where we can play, and also a way to hopefully help creators,” the Instagram CEO added.

Insider sources revealed that new features that allows Instagram users to bid on NFT collectibles within the app will come onboard. The source also explained at the time that Instagram would likely support Facebook’s Novi blockchain project and native crypto asset.

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