During a Q&A session on Instagram's popular social media platform over the weekend, Instagram CEO Adam Mosseri revealed that the company is looking into non-fungible tokens and the various ways to make them available to its users.
He made this disclosure while answering a question about integrating NFTs into Instagram.
Adam Mosseri says no announcements are forthcoming at this time, but NFTs are being explored for making them more accessible to a broader audience.
Earlier this year, rumors' surfaced that the Meta-owned photo-sharing platform intended to venture into the NFT space.
The CEO noted the company's commitment to providing assistance to content creators, stating, "I believe this is an inspiring place in which we can play and also help creators."
Meta and its metaverse ambitions may include this as part of their general goals.
A digital artist named Sean Williams announced part of the plans in May, saying Instagram was working on the creation of a new platform for new media artists and was in contact with several artists in the NFT community.
Alessandro Paluzzi, developer of popular app NFT, previously stated that NFT could be on Instagram. Instagram was working on integrating what he called "collectibles" on their platform at the time, based on screenshots he posted on Twitter.
According to him, Instagram is still working on collecting items and has added the capability of connecting a digital wallet to the service, like MetaMask.
"Instagram has not confirmed these details. Instagram will also support Coinbase and Novi wallets," according to Paluzzi.
As the CEO of Instagram revealed in the session, Instagram intends to promote its influencers and their content through tokenization.