According to a recent Coindesk story, social media platform Instagram is planning to add support for non-fungible currencies.
NFTs issued on Ethereum, Polygon, Solana, and Flow will be shown for free on the popular photo-sharing app.
Instagram’s owner, Meta, has yet to confirm the change, but according to the source, the internet giant might make an official statement as soon as next week.
It’s not surprising that Instagram is getting into NFTs. Instagram CEO Adam Mosseri announced in December that the social media giant was “actively exploring NFTs,” but gave no further details.
The Financial Times reported in January that the photo-sharing app has begun testing its NFT showcasing feature internally.
The integration of NFTs was overseen by David Marcus, the former head of Facebook’s blockchain division who left the firm in December. Stephane Kasriel, the former CEO of Upwork, took his post.
Facebook is also said to be working on its own NFT marketplace.