Instagram manager Adam Mosseri announced that much to our dismay, NFTs are finally coming to Instagram this week to “help creators make a living doing what they love.” To make matters worse, Facebook is also getting the “coming soon” feature.
As featured in a Twitter Video, NFTs (Non-Fungible Tokens) that are shared on Instagram, whether through feed, stories or messages, will come with a new tag named “digital collectibles” to prove that the post is the real one. affair. Users who tap on the collectible number tag will be able to see information such as the collectible’s current owner and creator.
As a small pity, this feature is only granted to a limited number of creators in the US to begin with, however, Instagram plans to roll out the feature with more features over time, so it may only need not long before all our Instagram feeds are just NFT.
Following Mosseri’s announcement, Mark Zuckerberg confirmed in a Facebook post that after NFTs have been sufficiently tested and implemented on Instagram, Meta will bring similar functionality to Facebook, as well as its other Meta-owned apps, so it may soon no longer be possible to escape the fate of NFTs.
Analysis: Why Instagram, why?
While some may argue that NFTs are perfectly fine and harmless to Instagram and its content, especially since the current implementation seems to only add metadata on top of images, the technology is far from innocent, because the transaction of an NFT requires a huge amount of energy thanks to its connection with the blockchain.
Beyond the inherent energy costs that make NFTs bad for everyone without the shillings, social media platforms such as Instagram and Twitter have no incentive beyond greed to endorse this technology, as users could already state that they own an NFT in the text of a message and have the blockchain prove them right.
With Mosseri claiming on Twitter that “there will be no fees associated with posting or sharing a digital collectible on [Instagram]”, the company has literally nothing to gain from pushing this technology beyond laying the groundwork for the potential future of digital collectibles.
NFTs on Instagram 🎉This week we are starting to test digital collectibles with a handful of American creators and collectors who will be able to share NFTs on Instagram. There will be no fees associated with posting or sharing a digital collectible on IG. See you next week ! ✌🏼 pic.twitter.com/VuJbMVSBDrMay 9, 2022
While that’s obviously exactly what Meta wants, this hypothetical future should be kept at least a few years out of reach for everyone’s benefit, because the last thing the world needs right now is another drain on its resources.
Once blockchain can run on fully renewable energy and be carbon neutral, or better yet carbon positive, only then will it be time to embrace NFTs with open arms as a technology that is at least vaguely useful.