Meta has announced that it will begin testing digital collectibles and NFTs on Instagram this week with selected creators and collectors in the United States.
The company’s Chief Executive Officer Mark Zuckerberg says that the social media platform will enable users to have NFTs as profile pictures.
Zuckerberg also adds that Meta will be enabled to use Augmented Reality NFTs on Instagram stories via Spark AR, a free filters studio. The step is expected to allow creators to have digital art in physical rooms and spaces.
Meta’s physical stores will sell and offer virtual and Augmented Reality hardware where users have been promised hands-on experience with real items.
Meta, formerly called Facebook, registered a $2.9 billion loss in its metaverse arm, Reality Labs, in the first quarter. The company has been upbeat about the space amid rising adoption.
Social media giant Twitter adopted a similar technology recently by enabling users to use NFTs as their profile pictures.