Zuckerberg said he hopes avatar clothing in the metaverse will be minted as NFTs, but admitted that there is “a bunch of technical things to be worked out first”, according to Hannah Murphy, a Financial Times tech reporter. In December, Instagram reportedly tested NFT integration on their internal network. Facebook’s digital wallet Novi, launched in a pilot version in October, is likely to play a central role in the NFT ecosystem on Instagram.
However, Meta is not the first social network to enter the NFT industry. In January, Twitter announced support for several digital wallets that users can connect to their profiles to display NFTs as their profile pictures.