It seems that soon the NFT will also arrive on Instagram. This move, which comes as a seeming surprise, is dictated by several motivations.
First of all, the economic and technological effort to “build the Metaverse” cost Meta a 5% drop in revenues compared to 2021. This decline has worried investors enough to push the company’s shares down by more than 20%, with the market value plummeting by more than $230 billion. So, forcing Mark Zuckerberg to devise new solutions to increase profits.
The idea of integrating non-fungible tokens and social media has a more long-range perspective, especially when we consider the exponential growth of mobile shopping in recent times and how the shopping experience has changed during the pandemic.
According to research conducted by Klarna and reported by WWD, 68% of U.S. shoppers “use their mobile devices to search for products while physically in a store.” Mobile purchases, including the shopping section of each social media, are on the rise, driven by a younger audience: 68% of U.S. consumers surveyed say they have made purchases via mobile device in the last 12 months, while 79% of Gen Z and 77% of Millennials have been shopping from mobile for more than two years. With this in mind, it will be pretty normal to turn to Instagram or Twitter to buy tokens rather than using the platforms in the near future.
Probably the same Zuckenberg, who has declared to buy all his outfits in the shopping section of Instagram, has in mind a very near future in which we will begin to buy everything through social networks, from appliances to toothbrushes, up to, why not, to NFT, perhaps with an Oculus to evaluate ‘by hand’ each object before deciding whether to take it or not.
Recently NFT have also arrived on StockX