NFT with social media.

[Lida93]

Instagram announced that in the near future, they will allow digital creators to mint and sell non-fungible tokens (NFTs) directly from the social media platform. The image-focused app recently launched its Digital Collectibles feature in 100 countries, allowing users to connect to their digital wallets and showcase NFTs that they either created or bought.
source:
https://www.binance.com/en/news/flash/7260099?_dp=L3dlYnZpZXcvd2Vidmlldz90eXBlPWRlZmF1bHQmbmVlZExvZ2luPWZhbHNlJnVybD1hSFIwY0hNNkx5OTNkM2N1WW1sdVlXNWpaUzVqYjIwdlpXNHZibVYzY3k5bWJHRnphQzgzTWpZd01EazU%3Dhttps%3A%2F%2Fapp.binance.com%2Fen%2Fnews%2Fflash%2F7260099%3F_dp%3DL3dlYnZpZXcvd2Vidmlldz90eXBlPWRlZmF1bHQmbmVlZExvZ2luPWZhbHNlJnVybD1hSFIwY0hNNkx5OTNkM2N1WW1sdVlXNWpaUzVqYjIwdlpXNHZibVYzY3k5bWJHRnphQzgzTWpZd01EazU%3D&utm_campaign=weeklynewsletter&utm_medium=Email&utm_source=CRM

Could this be described as another convenient way for Instagram-cryptocurrency traders to have a multi_choice of trading exchange means. And even as that, for me it kind of cumbersome for users in terms of the processes that might be involved based in the idea of tightening security of the social app as it now concerns financial not just social activities but crypto exchanges.
With loads of questions running my mind about this initiative from meta, but I have to apply some breaks for now not until the system is tested and functioning beyond doubt.
What are your thoughts?

[avikz]

The holding company of Instagram is already struggling with billions of dollars of losses due to their ultra bullishness on Metaverse. It's surprising that they still have the audacity to implement NFT! It's strange that these big businesses are not understanding that NFT is dead or soon to be dead.

The NFT sales are dropping significant quarter by quarter and yet Instagram is planning to bet on such things? It seems public money is easy to spend as these companies are stock market listed.

Read here: https://www.reuters.com/technology/nft-sales-plunge-q3-down-by-60-q2-2022-10-03/

No company should anymore bet on NFT or metaverse.