NFTs’ entry into the mainstream saw the involvement of popular sports teams, apparel brands, artists, and other mainstream entities. Keeping up with this trend, social media platform Instagram said that they are exploring ways to offer NFT accessibility to Instagram users. Adam Mosseri, the CEO of Instagram, said that the popular social media website has huge potential to bring NFTs to the mainstream and make them available to a wider audience. Mosseri spoke about NFTs in an AMA session with his Instagram followers, and his comments about NFTs make it apparent that the social media giant is planning to enter the sector.
Mosseri also spoke about the possibility of creators benefiting from NFTs. Recent years have seen a global phenomenon of artists turning towards NFTs to protect copyright and originally. Many fans have also supported this move and want their favorite artists to launch new art through benefits. With its worldwide network of influencers, Instagram is one of the best places for artists to benefit from NFTs. Instagram has already made some progress in terms of bringing in NFT creators. In May 2021, it hosted the ‘Creators’ Week’ where some NFT artists were featured. According to many leaked and speculative reports, Instagram is already planning an NFT marketplace on the app. The CEO, however, did not explicitly mention any concrete plans for Instagram to integrate NFTs. If Instagram decides to enter the field, it will open a world of possibilities for NFT creators, sellers, and buyers.