Instagram is reportedly making more changes to its mobile app. The social media giant is set to add NFT features. Alessandro Paluzzi, an app developer took to Twitter and leaked the new details. Posts on Instagram that will offer NFTs may come with a label – Instagram collectibles
Instagram collectibles: A new addition
Instagram is planning to bring non-fungible tokens to social media in the form of ‘collectibles’. Soon, posts on the feed will alert users about NFTs and how they can be bought. However, as of now, there is no news from Instagram confirming this news. But, it could be one of the promised updates from Adam Mosseri, the head of the social media app. earlier this year, Mosseri said that creators will soon be able to make a living from the social media app.
“At Instagram, we’re always trying to build new features that help you get the most out of your experience. Right now we’re focused on four key areas: Creators, Video, Shopping, and Messaging,” said Mosseri. He also posted o Instagram and Twitter that Instagram is no longer just a photo-sharing app.
“Not just for sharing photos”
For the last couple of years, it is not just a square photo sharing or photosharing platform. It has evolved into an entertainment platform. The head of the company also acknowledged the tough competition by platforms like TikTok and Youtube. “TikTok is huge, YouTube is even bigger and there are a lot of upstarts in the space,” he said. Additionally, he said that users will see several experiments on Instagram.
The formerly photos-only app was not the first to start the ‘short video form of entertainment. The viral TikTok videos made the social media platform experiment with ‘Instagram Reels’. However, if the platform decides to go forward with NFTs and collectibles, it will be the first social media app to do so. This can eventually give the platform, NFTs, and creators a boost. Creators will be able to make a living or substitute it with the added reach and market. The move might also make NFTs more accessible for people.