NFTs are coming to Instagram, Meta's Zuckerberg says

NFTs are the keys to owning digital assets. PHOTO: REUTERS

NEW YORK (BLOOMBERG) - Meta Platforms chief executive officer Mark Zuckerberg confirmed that the company is building technical functionality so that users can display their non-fungible tokens (NFTs) on Instagram - and even "mint" some NFTs within the app.

"We're working on bringing NFTs to Instagram in the near term," he said during an interview at the South by Southwest conference Tuesday (March 15), but declined to share specifics on when and how the feature might work. NFTs are the keys to owning digital assets.

Mr Zuckerberg spent most of the nearly 50-minute long conversation talking about the so-called metaverse, his vision for a more immersive version of the Internet.

Former Meta executive David Marcus said last August that the company was looking into building NFT features alongside the company's Novi digital wallet.

At the SXSW conference, held in Austin, Texas, Mr Zuckerberg also discussed the war in Ukraine, calling it "massively destabilising world event" - his first public comments since the conflict began last month.

Join ST's Telegram channel and get the latest breaking news delivered to you.