chief executive has announced that will begin testing non-fungible tokens (NFTs) on the social network this week.
An NFT is a unique digital token encrypted with an artist’s signature, which verifies its ownership and original site authenticity and is permanently attached to the piece.
Most NFTs include some kind of digital artwork, such as photos, videos, GIFs or music – although, theoretically, anything digital could be turned into a NFT.
‘This week we’re starting to test digital collectibles on Instagram so creators and can display their NFTs on their profile,’ Zuckerberg said in an update on his profile.
‘Similar functionality is coming to Facebook soon, along with augmented reality NFTs on Instagram Stories via Spark AR so you can place digital art into physical spaces.’