Instagram is exploring implementing a new feature that would allow users to buy and sell cryptocurrency.
Although it is unlikely that the Meta-owned social media platform will rival companies like Ethereum, it is expected to help boost Meta’s efforts to develop its own metaverse.
Currently, Instagram is exploring incorporating this concept through a separate tab called “collectibles” under users’ profile, where a user can display or sell NFTs.
While this appears to be an effort to stay relevant in today’s age, Instagram has already been making the transition to be a place where people can interact, shop, and be entertained — which the metaverse also aims to do.
By making this transition, essentially anyone can have the ability to make money through Instagram. This opens up an entirely new avenue for people to make income and accelerates the adoption of metaverse-like activities.