Mark Zuckerberg, CEO of Facebook’s parent company Meta, said that the company is starting to test digital collectibles on photo and video sharing platform Instagram this week, signaling a move toward adding nonfungible tokens, or NFTs.
In an interview with Impact Theory’s Tom Bilyeu published to Facebook (NASDAQ:FB) on Monday, Zuckerberg said the move to test digital collectibles on Instagram was the first step toward allowing creators and collectors to display NFTs on other apps under Meta’s control: WhatsApp, Facebook Messenger and Facebook. According to the CEO, Meta was planning to “bring similar functionality to Facebook soon” and working on “augmented reality NFTs” for Instagram as well.