Instagram is reportedly ready to launch a feature that will allow users to view non-fungible tokens
Social media platform Instagram is set to add support for non-fungible tokens, according to a recent report by Coindesk.
The popular photo-sharing app will display NFTs issued on Ethereum, Polygon, Solana, and Flow for free.
Meta, the owner of Instagram, has yet to officially confirm the move, but the report says the tech giant could make an official announcement as soon as next week.
Instagram’s foray into NFTs should come as no surprise. In December, Instagram head Adam Mosseri said the social media platform was “actively exploring NFTs” without revealing any further plans.
In January, the Financial Times repeated that the photo-sharing app had begun internal testing of its NFT enhancement feature.
David Marcus, the former head of Facebook’s blockchain arm who parted ways with the company in December, was tasked with working on adding NFTs. He was later replaced by former Upwork CEO Stephane Kasriel.
Facebook would also work on its own market for NFTs.
