Snap's Upcoming NFT Feature, Explained – Market Realist

Weeks after Snap Inc. (SNAP) unveiled its paid premium subscription tier Snapchat+, the social media and camera company is eyeing a new feature. This time, Snap wants to add a non-fungible token (NFT) element.Article continues below advertisementThis move would launch Snap into the blockchain space along with Facebook’s Meta Platforms (META) and others. Here’s how the feature would work, when it may be coming, and how SNAP stock is performing amid the news.Snap, Inc. to experiment with NFT featureSnap wants to develop a feature allowing NFT artists to use their work as augmented reality (AR) filters, according to a leaked report divulged by Financial Times. The feature would add another puzzle piece to the modern creator economy, which is heavily rooted in the world of blockchain technology.Article continues below advertisementThe feature would be more about symbolism and optics than revenue. In fact, Snap doesn’t plan on taking any money from creators. As part of the development process, Snap plans to come up with ways NFT creators can monetize the process.How will Snap’s NFT feature work?While the logistics remain unclear, we have a general idea of how Snap’s NFT feature will work. NFT creators will be able to design and mint…
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