Instagram is preparing to jump into NFT profile pictures
that Meta was working on a feature that would allow both Instagram and Facebook users to flaunt their NFTs. In addition, Facebook was allegedly working on its own marketplace for digital collectibles.
On Sunday, cryptocurrency media outlet Coindesk reported that Instagram was preparing to add support for NFTs on four blockchains: Ethereum, Polygon, Flow and Solana. Meta is yet to confirm which specific blockchain platform its new NFT-related feature will support. Instagram will not be the first social media platform to introduce NFT profile pictures. Popular microblogging platform Twitter launched similar functionality in late January.
Adult-oriented subscription-based social media platform OnlyFans jumped into NFT profile pictures in February. Despite growing adoption, the NFT bubble is visibly bursting, with sales crashing by a staggering 92% since last year.
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