Instagram’s parent company Meta revealed on Wednesday that it will start testing Instagram NFTs on Stories. This is according to Meta through its augmented reality platform Spark AR.
CEO Mark Zuckerberg stated that Meta is evolving so that more creators can share their NFTs on Instagram.
Instagram NFTs to spillover on Facebook
Additionally, Zuckerberg confirmed that Facebook would eventually enable NFTs.
“We’ll bring this feature to Facebook soon too — starting with a small group of U.S. creators — so people can cross-post on Instagram and Facebook,” the Meta CEO said. “We’ll also test NFTs in Instagram Stories with SparkAR soon.”
“Creators and collectors will be able to share their digital collectibles across Facebook and Instagram after we begin rolling out the feature on Facebook with select U.S. creators at a later date,” the company said in an announcement.
In May, Meta launched digital collectibles. It described them as “a brand-new way for consumers and creators to share NFTs on Instagram.”
NFT invades Big Tech
Meta also stated earlier this week that it would form a Metaverse standards council with other tech companies. The group plans to create the next generation of the web as well as a shared ethos for Web3 and the Metaverse. Epic Games, Adobe, Microsoft, Nvidia, and Qualcomm are among the companies that have joined the initiative.
Other businesses besides Meta are interested in integrating NFTs. It adopted NFTs as its model after social media rival Twitter did in January. Users were able to display their NFT artwork as profile images and link Ethereum-based wallets to their Twitter accounts thanks to Twitter’s NFT integration.
In order to further its entry into Web3, eBay has acquired the Ethereum-based NFT marketplace KnownOrigin. Even well-established DeFi firms like Uniswap are beginning to dabble in the NFT and metaverse markets as a result of their recent acquisition of the NFT aggregator Genie.