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Instagram Wants to Apply NFTs on User Profiles

Mobile developer and leaker Alessandro Paluzzi has revealed that Instagram seems to be working on some NFT features.

Paluzzi made the reveals on Twitter where he presented potential updates for both Instagram and Twitter. Twitter, meanwhile, may be getting ready to add two new services, Wealthsimple, and Chipper Cash.

Paluzzi added that “Instagram continues to work on Collectibles.” He declared that Instagram posts that will offer NFTs will have a “Collectible” label on them thus indicating to people that there is an NFT that you can buy on the post.

Instagram has yet to confirm the news.

In early June, the head of Instagram, Adam Mosseri, declared: “One is commerce, so either we can do more to help with branded content. We can do more with affiliate marketing, we can do more with merch. The second is ways for users to actually pay creators directly so whether it is gated content or subscriptions or tips, like badges, or other user payment-type products. I think there’s a lot to do there. I love those because those give creators a direct relationship with their fans, which I think is probably more sustainable and more predictable over the long run.”

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