Instagram CEO Adam Mosseri has said the social media giant is “actively exploring” the industry.
“Nothing to announce yet but we are definitely actively exploring NFTs and how we can make them more accessible to a wider audience,” Mosseri said via his own Instagram account last week.
“I think it’s an interesting place that we can play…and also a way to hopefully help creators,” Mosseri added. The video is available here.
The CEO’s comments follow a year when the social media platform has already begun dabbling in the NFT space, as well as the wider crypto space.
Instagram and crypto
In May, Instagram hosted a panel for NFT creators.
The panel was part of the social media platform’s inaugural “Creator Week,” which was designed to help creators grow their following, and monetize their platforms.
“They have told us they need more information on how to do that, not just from us, but from other creators,” Charles Porch, Instagram’s VP of global partnerships, said at the time.
The event was invite-only, but some sessions were available publicly.
Earlier this month, former executives from Instagram, Tinder and Stripe announced a $50 million crypto fund called Chapter One that focused on design and on providing practical advice to founders.
“There’s a lot of things that worked in Web2 that could be incorporated into Web3,” said Jeff Morris, former VP of product at Tinder and co-founder of Chapter One.
Chapter One has previously used an earlier fund to invest in seed rounds for several crypto-related companies, including Compound and Dapper Labs.