Meta-owned social media platform Instagram just launched its non-fungible token (NFT) product on Monday in what could be a probable step towards the monetization of digital assets for creators in the space.
While the NFT pilot is aimed at primarily letting creators showcase their creations—therefore, no trading, sales, or fees are involved—a recent job advertisement for Creator Blockchain Experiences could hint at a likely move towards adding profit to the overall picture.
Specifically, the job post calls for aid to “define the strategy and roadmap for new blockchain-enabled creator monetization experiences”.
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Web3 and NFT marketing expert, Jon Viktor, shares how millions of users on Instagram and other social media platforms already resort to selling merchandise and brand collaborations to their followers.
However, he cautions against NFT, citing Ubisoft as an example whose entry into non-fungible tokens was seemingly ruined by mainstream gamers.