It’s worth noting that top brands’ association with the already familiar world of NFT tokens is quite predictable. The field has been a major hit in 2021 and also one of the strongest drivers of digital asset popularisation around the world.

And although the growth in popularity of NFTs began to actively increase back in the spring, the trend is still actively sought after even today. We clarified the latest data: the popularity of the query about NFT-tokens worldwide on Google is now at its peak. Consequently, users have never before explored the topic so diligently.

Popularity of a query about NFTs on Google

Against this backdrop, Instagram wants to not only keep up with popular trends, but also find new customers.

What can Instagram’s NFTs be?

Here’s one of Mosseri’s quotes from his recent Instagram post, in which he shares his world view. The replica was published by Decrypt.

Not much to announce yet, but we are really actively exploring the topic of NFT and how we can make it available to the general public.

Accordingly, the NFT token industry has managed to attract the attention of a wide audience, which means essentially the major social platforms have no choice but to follow the trend. Otherwise, they risk losing their user base and becoming a thing of the past.

Instagram executive Adam Mosseri

The platform executive also added that Instagram’s NFT-type sphere could significantly help up-and-coming content creators monetise their labour. Adam continues.

I think it’s an interesting trend to play around with. And certainly a good way to help content creators.

So in this case the focus is on platform users who will be able to earn from such tokens. How exactly this will be implemented is unknown. However, NFTs will definitely allow creators to earn a certain percentage of commission on each subsequent resale of the token, which is essentially perpetual passive income. At the very least, it will be relevant as long as NFTs are popular.

As a reminder, Instagram participated in the creation of a conference for NFT artists in May. The conference was part of the Creator Week event, where enthusiasts were looking for new ways to expand their audience and monetise their content. The event was by invitation only, but some sessions were available to all.

Instagram

Also earlier this month, former Instagram, Tinder and Stripe executives announced a $50 million crypto fund called Chapter One, which focuses on design and providing practical advice to startup founders. Jeff Morris, former VP of product at Tinder and co-founder of Chapter One, commented on the event. Here’s his line.

There are a lot of things that worked in Web2 that could be incorporated into Web3.

Chapter One has also been involved in several investment campaigns related to crypto start-ups. We're talking about fundraising for cryptobrands like Compound and Dapper Labs.

Bitcoin’s rise

It should be noted that linking with NFT tokens has its own risks. Discord’s representatives, who wanted to introduce support for cryptocurrency wallets and NFT in the app in autumn 2021, have seen this for themselves. However, in the end they faced criticism from users and were forced to abandon the idea.

A similar situation happened to the developers of S.T.A.L.K.E.R. game. They were also planning to introduce NFT tokens, but in the end they went along with the furious fans.


We think the introduction of NFT into such a large platform would be good for the digital asset industry anyway. Still, many people still don't perceive unique tokens, nor do they understand their purpose. Accordingly, Instagram's initiative could be a good educational course for people who are not familiar with the topic.