Facebook and Instagram Explore Plans to Create, Offer and Sell NFTs


Social media group Meta is exploring plans to allow users to create, display and sell NFT offers on Facebook and Instagram, according to a report from the Financial Times.

According to the report, should the company launch such tools, it would be the largest display of mainstream support for NFTs and help cement the controversial asset’s place in the digital world, according to the newspaper. The plans are “at an early stage and could change yet.”

The post says teams at Facebook and Instagram are “preparing” a feature that will allow users to display NFTs as their profile pictures, as well as work on a prototype to allow users to make new NFTs. Others on Meta are reportedly discussing “launching a marketplace for users to buy and sell NFT.”

The report also rules out determining how long those plans will be, but this isn’t the first show of interest in NFTs we’ve seen from Meta leaders, with Instagram chief Adam Mosseri saying last December that the company was “actively exploring NFTs and making them more accessible to a wider audience,” while speaking Mark Zuckerberg, CEO of Meta last October, on how Metaverse will need to support “ownership of digital goods, or NFTs.”

Websites such as REDDIT and Twitter have also shown interest in NFTS. NFTs, or non-fungible tokens, have gained support with other established web platforms in recent months, The verege reports.

Twitter is working on ways to display such blockchain-powered items, while Reddit has launched its own set of NFT avatars for users.


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