Instagram’s foray intoNFTsbegins this week.
The photo-sharing social media platform plans to start small with NFTs, according to Instagram chief Adam Mosseri.
There will be no fees associated with posting or sharing a digital collectible on IG.See you next week!
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“Now I want to acknowledge up front that NFTs are all about distributing trust, distributing power.
But Instagram is fundamentally a centralized platform, so there’s a tension there.
NFTs, or nonfungible tokens, are digital assets that are verified using blockchain technology.
NFTs can be a part of a collection or standalone pieces of art.
Sports leagues like theNBA and MLB are also selling NFTsof highlights and player cards.
