If Instagram indeed integrates NFTs into its platform, the number of such transactions could skyrocket to eight billion per year, said Deutsche.
by Coindesk, the deployment of NFT technology on Instagram has the potential to energize the entire market and make it mainstream.that the company will bring NFTs into Instagram in the next several months to let users mint such assets directly on the platform.
The note indicated that Meta-owned Instagram will simplify the process of buying and selling NFTs, further reducing the barriers to accessing this form of digital assets. With its notable brand effect, the note said, Instagram can legitimize NFTs, facilitating a greater level of public adoption. The German bank also predicted that Instagram building an NFT Marketplace can bring roughly eight billion net transactions per year. Besides Instagram, major internet companies like Twitter and Snap will, to some degree, bring NFTs into their platforms.
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