Zuckerberg talks up Instagram NFTs at SXSW

Twitter has been lighting up as Founder of Meta, Mark Zuckerberg announced at South by Southwest (SXSW) Festival that Instagram users might soon be able mint NFTs on the platform.

“We’re working on bringing NFTs to Instagram in the near term,” Zuckerberg said at a panel according to a Tweet by Engadget Senior Editor Karissa Bell. Zuckerberg added however, “I’m not ready to kind of announce exactly what that’s going to be today.”

Zuckerberg at SXSW confirms NFTs are coming to Instagram "we're working on on bringing NF Ts to Instagram in the near term," but says "I'm not ready to kind of announce exactly what that's going to be today"

— Karissa Bell (@karissabe) March 15, 2022

Financial Times tech reporter Hannah Murphy also tweeted about the comments made by Zuckerberg at the festival, reportedly mentioning hopes avatar clothing in the metaverse could be minted as NFTs.

Zuckerberg at #SXSW
– says that he hopes avatar clothing in the metaverse will be minted as NFTs
– there's "a bunch of technical things" to be worked out first
– they're working on bringing NFT's to Instagram "in the near term" (confirms our earlier scoop)https://t.co/ZX6PVjw4O8

— Hannah Murphy (@MsHannahMurphy) March 15, 2022

This news follows on from a January report by the Financial Times where Meta expressed its hope of adding NFTs to its crypto wallet Novi, as well as the potential for developing an NFT marketplace.

There are hopes that this new action by Meta may land in success, after attempts by the company to create their own stable coin known as Libra, dramatically failed earlier this year.