Breaking! NFTs Coming to Instagram-META-Facebook Mark Zuckerberg - 2022

According to news reports, Zuckerberg said, “We’re working on bringing NFTs to Instagram in the near term.”

WHAT IS AN NFT? WHAT DOES NFT STAND FOR?

Non-fungible token. [1]

Non-fungible means "replaceable" or "interchangeable".

According to Cornell Law college :

Fungible good or fungible material The term “fungible good” or “fungible material” means a good or material, as the case may be, that is interchangeable with another good or material for commercial purposes and the properties of which are essentially identical to such other good or material. [2]

Zuckerberg reportedly talked about minting your avatar's clothing as an NFT and taking "it between your different places." Zuckerberg has talked about NFTs and the metaverse before, saying that he could see them as part of the digital world's governance. Now, it seems like he's thinking about them as digital objects, something brought up by Meta before. [3]

We are working on bringing NFTs to Instagram in the near term [4]

I would hope that the clothing that your avatar is wearing in the Metaverse can be minted as an NFT and you can take it between different places. [5]

References:

https://www.theverge.com/22310188/nft-explainer-what-is-blockchain-crypto-art-faq
https://www.law.cornell.edu/definitions/uscode.php?width=840&height=800&iframe=true&def_id=19-USC-1676220931-1758020314&term_occur=1&term_src=title:19:chapter:26:subchapter:II:section:4033
https://www.theverge.com/2022/3/15/22979926/instagram-nfts-meta-zuckerberg-sxsw-metaverse
https://techcrunch.com/2022/03/15/instagram-nfts/
https://techcrunch.com/2022/03/15/instagram-nfts/

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Breaking! NFTs Coming to Instagram-META-Facebook Mark Zuckerberg - 2022