MENLO PARK, CA — Beginning this week, Instagram is testing digital collectables with a handful of creators in the United States who will be able to share NFTs on the site, according to Adam Mosseri, head of Instagram.
The announcement went on to say there will be no fees associated with posting or sharing a digital collectable on the photo and video-sharing app.
In a similar announcement, Mark Zuckerberg, META CEO, said a similar functionality will be coming to Facebook soon, along with augmented reality NFTs on Instagram stories via Spark AR so digital art can be placed into physical spaces.
Meta, Inc. is the parent company of Facebook, which acquired Instagram in 2012.
This is not the first time NFTs have been introduced into the social media platforms. In January Twitter introduced NFTs as hexagon shaped profile pictures.