Instagram is adding NFT support ‘for creators and people’ as the once-hot market appears to be on a decline

“What we’re starting with this week is the ability for creators and people to share NFTs that they’ve made or that they’ve bought, either in feed or in stories or in messaging,” Mosseri said. “It’s a limited number of people to start.”

Rather than facilitating the sale or trade of user NFTs, or non-fungible tokens, Instagram’s NFT support is limited to sharing either still or moving images of a digital object albeit with a “digital collectible” tag that, when tapped, enables the NFT owner to share more information about the object.

Still, the idea to add NFT support came from Instagram wanting to help creators “make a living doing what they love,” Mosseri said.

Whether it will fulfill that goal remains to be seen, and the once-booming NFT market appears to be cooling down.

Mosseri said the new NFT functionality on Instagram is rolling out on a limited basis, and the company has a lot more work to do to make NFT support more robust. Check out the intro video right here:

A post shared by Adam Mosseri (@mosseri)

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