Mark Zuckerberg Says NFT Features Coming Soon on Instagram

Mark Zuckerberg Says NFT Features Coming Soon on Instagram – Mark Zuckerberg Says NFT Features Coming Soon on Instagram

Mark Zuckerberg recently announced in an interview at the South by Southwest Conference (SXSW), that the NFT feature will soon be introduced to Instagram.

Zuckerberg said the Non-Fungible Token (NFT) would be integrated into the company’s photo and video sharing platform Instagram. He clarified that the Instagram team is currently working on certain technical issues.

“I wish the clothes your avatar was wearing on the Metaverse could be printed as NFT and you could take them to different places,” Zuckerberg said.

It also highlights how Mark Zuckerberg and his company META hope to integrate various aspects of the Web3 revolution.

NFT features like this have already been present and used on social media Twitter and also the Internet forum Reddit.

Instagram’s CEO, Adam Mosseri, revealed in December that the company was “actively exploring” NFT with a view to bringing the technology to a wider audience.

“I think it’s an interesting place that we can play with and also hopefully help the content creators. Especially if Instagram holds “Creator Week” which is an exclusive meeting place for NFT artists,” said Mosseri at the time.

META itself already has big plans in terms of the Web3 space. Facebook changed its name to Meta to show its commitment to this plan.

In realizing this, META’s subsidiaries also continue to contribute to this technology giant’s continued push into the Web3 space.

Japanese E-Commerce Giant Rakuten Launches NFT Marketplace

Mark Zuckerberg Says NFT Features Coming Soon on Instagram

Previously, Rakuten Group Inc, an E-Commerce company in Japan announced on Friday that it had launched its NFT marketplace.

Rakuten is a Japanese e-commerce store that sells goods and services in various sectors such as books, fintech, cosmetics, digital content, and more. As per the report, the company earned more than 26.9 trillion yen or equivalent to Rp. 3.3 quadrillion in the 2021 fiscal year. According to Yahoo Finance, Tuesday, March 15, 2022.

Rakuten’s NFT marketplace allows users to buy NFT, as well as peer-to-peer NFT buying and selling. Rakuten will offer NFT in areas such as sports and entertainment, including music and anime, the company press release said.

Furthermore, Rakuten will also feature a unique one-stop platform system that will allow IP holders to build their websites to publish and sell NFTs. The company intends to provide peer-to-peer listings and sales by 2023.

Initially, the company revealed plans to launch the NFT marketplace in 2021 amid the growing popularity of NFT transactions worldwide. However, there is no official explanation as to why the company delayed until early 2022.

Rakuten’s first NFT listing occurred on February 25 and includes digital assets from the anime titled Ultraman and the horse race-themed comic Kurogane Hiroshi G1 Gekitoshi (2010 Series).

NFT booming in Japan

With the expansion of the NFT space, more and more markets have emerged as interest in NFT has increased in Japan. Notably, in March last year, Japanese crypto exchange Coincheck debuted a dedicated NFT marketplace, while in July.

Then one of the supporters of cryptocurrencies, Mai Fujimoto who is also known as ‘Miss Bitcoin,’ teamed up with Enjin to create an NFT charity program in Japan.

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