As part of a more comprehensive Web3 effort, Meta’s Instagram has confirmed that users would be able to create their own non-fungible tokens.

According to a Thursday announcement, social media behemoth Instagram will soon let users to create their own non-fungible tokens.
The widely used photo-sharing app will also introduce a marketplace where producers can market and sell their NFTs.

Despite the fact that the cryptocurrency market underwent a significant correction earlier this year, the statement demonstrates that Meta, the parent company of Instagram, is willing to delve further into Web3.
According to U.Today, the Financial Times previously highlighted Meta’s proposal to permit inventors to create and sell NFTs.

Before making the new NFTs functionalities accessible to all users, Meta will initially test them with a sample of material.
Additionally, authors were able to display their NFTs as profile images back in May thanks to Meta.

Currently, Meta supports the blockchains of Ethereum, Flow, and Polygon, but it has ambitions to eventually incorporate other alternatives, such as Solana.

Drawing influencers in:
The tech juggernaut is frantically attempting to regain its mojo after losing the majority of its worth during the previous year. The third quarter saw a nearly halving of the company’s net income, which led to a sharp decline in Meta’s share price.