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Instagram is currently in a difficult position with increasing competition from TikTok and is trying to make itself more and more essential. So you don’t want to run the risk of missing a fad, and NFTs are a good example of that.
The maximum manager of the platform, Adam Mosseriannounced through a video on Twitter that NFTs are officially landing on Instagram to, he says, increase possibilities for creators.
NFT craze hits Instagram as market crashes
As Omicrono colleagues explained at the time, an NFT, in a very simplified way, is a kind of certificate of ownership of a digital asset. Reality is a bit more complex, but it basically tries to create something unique that, by definition, can be exactly copied over and over again.
This market has exploded in recent months, but we are already starting to see signs that it is beginning to collapse. That doesn’t mean they’re useless, but it does mean the speculation around them has been insane.
Well, in this downward wave, Instagram has announced that its platform will begin to support these NFTs and will allow them to be displayed in the app and on the web, with the corresponding links to demonstrate that they are acqu isitions authentic.
At the moment it is a limited approach to certain users in the United States, and gradually it will be open to other countries and more profiles. According to Mosseri, the company is aware that it is entering a sector where the form of distribution is important and where Instagram is a centralized platform.
It remains to be seen if this commitment to NFTs achieves anything more than what we’ve seen and if in the future there are real new uses for it beyond speculation.
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