After Twitter, it was Instagram's turn to integrate with non-fungible tokens (NFT).
This excitement began when Instagram CEO, Adam Mosseri revealed that the social media platform was actively monitoring the growth of NFT.
In a recent Q&A session, Mosseri explained: “We are researching how to make sure NFT technology is accessible to the masses…The Instagram community can interact, while helping content creators.”
As a record, around Jun 2021 this individual shared how NFT will work on the platform, including being able to connect to digital wallets such as MetaMask.
Not enough with that, in May 2021 artist Sean Williams informed that Instagram had contacted art creators in the NFT ecosystem to get support for the establishment of the NFT platform.
It must be admitted, the NFT market received a tremendous response throughout 2021, although at the beginning of the transmission this hype was seen as a bit 'weird' and difficult to understand.
But the record for the first half of 2021 saw the NFT market record profits of up to $2.5 billion! In contrast to its growth in 2018, when only $41 million NFT was traded.
Several big names have also entered the NFT ecosystem, including: CNN, Times, Adidas, McDonald, MyeongDong Topokki MY, Nike, Pizza Hut Canada, Pringles, Coca-Cola, Ubisoft, Twitch, The South China Morning Post, NBA, Gucci, Burberry , Louis Vuitton, and more.
