Facebook and Instagram may allow users to create, showcase, and sell NFTs: Report

By: Tech Desk | Pune | Updated: January 25, 2022 2:24:16 pm Facebook CEO Mark Zuckerberg announces their new name, Meta, during a virtual event in this file photo.( Image credit: AP) Meta Inc (formerly Facebook) is exploring plans to allow users to create, showcase and sell non-fungible-tokens (NFTs) on Facebook and Instagram, according to a recent report by The Financial Times. For the uninitiated, an NFT is a digital asset that uses blockchain technology to record who owns a digital object such as an image, video, or in-game item. While anyone can view the asset in question, only the buyer can say they are the “official” owner. According to a report by FT, teams at Facebook and Instagram are “readying” a marketplace feature that will allow users to create, and sell NFTs.  The plans are currently “at an early stage and could yet change,” Engadget reported. This development comes after Instagram leader Adam Mosseri said in December that his social network was “actively exploring” NFTs. In an Instagram Q&A posted to his Stories, Mosseri was responding to a question about his thoughts on integrating NFTs into Instagram. He said, “Nothing to announce yet but we are definitely actively exploring…
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