TL;DR Breakdown
- Instagram might be entering the crypto world, allowing users to sell NFTs on Instagram.
- As leaked by Alessandro Paluzzi, NFT features might be added soon.
- Instagram, along with Twitter, has plans for the introduction of major changes.
Instagram, owned by Facebook, has billions of active users using the application for hours every day. The application has become a hub for viral content and for ads as well. One can share photos or videos on this social media application and socialize with anyone across the seven continents.
Alessandro Paluzzi, who is an Android/IOS applications developer, has a habit of leaking major tech before companies reveal them. When it comes to habits, Instagram has a habit of surprising people very often.
Usage of NFTs on Instagram
The buying and selling of non-fungible tokens or NFTs on Instagram can be a revolutionary decision. The CEO of Instagram has made no official announcement as of yet, but he has mentioned the addition of payment sections in the application. CEO Adam Mosseri wants the digital creators on Instagram to be able to earn with the help of the platform, furthering the growth of artists.
It could be that Instagram allows monetization features for fans of authors, artists, etc., facilitating the sale of NFTs on Instagram. This could be like Patreon or Only Fans. With the introduction of the payment section along with monetization, NFTs would definitely sell well on the application.
Twitter is also planning to bring new items to the list with the introduction of Wealthsimple and Chipper Cash. With these services in the Tip Jar, people will be able to easily send over payments to the person whose username will be entered in the section provided.
This is just a start
According to Instagram’s CEO, it will be a lot easier for fans to buy anything directly from the artist they are a fan of or whose work they are interested in. While the artists may differ, the method of payments will be the same, and instant cash payments can be made.
Instagram CEO says that they will make it easier for people and fans to pay the artists in tips, subscriptions, or badges without any hurdle. This opens a direct line of communication between Instagram and the creators on the platform.
