In a post today, Mark Zuckerberg, the CEO of Meta, confirmed that the company is testing NFTs on the platform and that “similar functionality” will soon be available on Facebook. The NFTs will be from the Ethereum, Solana, Polygon, and Flow blockchains will be able to be used on the platform. CoinDesk says that Meta, the company that owns Instagram, is working on non-fungible token (NFT) interfaces with Ethereum, Polygon, Solana, and Flow.
In a video posted today, Instagram’s head Adam Mosseri said that a small group of US users will be able to show NFTs in their feed, stories, and messages. Details about NFTs are shown in the same way that tagged profiles and products are, and they are called “digital collectibles.” Clicking on the tag will display details like the name of the creator and owner.
NFTs are proofs of ownership for real-world or digital objects. They are created on the blockchain. In recent years, they have become very popular, and some digital collectibles are now being sold for millions of dollars. In an effort to connect with their fans, many celebrities have also started minting their own NFTs.