Instagram and Beeple to Soon Hop on the NFT Bandwagon

May 20, 2021      Sahaj Sharma

As recently claimed by Sean Williams, a digital artist, Instagram is building a non-fungible token NFT platform, while Beeple is working to generate fully holographic NFTs. Along with this, the artist claimed that the Mark Zuckerberg-owned application is currently working to create its own non-fungible token marketplace.

Sean Williams Claims Instagram is Building an NFT Platform

On May 18, the digital artist tweeted to his 12K followers that Instagram has invited him along with other artists to speak on a panel that will be targeted on non-fungible tokens.

Also to provide feedback on how the firm can create a better platform for the creators.

However, it should also be noted that the approach has not gone down well with Sean.

He feels that the social media platform is planning to leverage the insights of the NFT artists to provide market research for the development of an NFT platform of its own.

In his claim, it was revealed that he was offered $1000 to sit with the development team and give his insights along with making a non-disclosure agreement part of the deal. It said:

“An honorarium of $1000 while we sit in a room with upper-level management and the dev team to build a product??? Weird. Sounds like a platform that’s behind, and looking to use the leverage they’d had over the last ten years to pretend as they care.”

Mike Winkelmann, Beeple to Create Holographic NFTs

Mike Winkelmann, who is better known as Beeple, has recently partnered with RNDR, the rendering software providers, and OTOY, its parent company, are planning to create a fully holographic NFT.

The official announcement made on OTOY’s website notes:

“The collaboration will focus on developing the first blockchain NFTs (non-fungible tokens) that are fully immersive on holographic displays and mobile AR, and are validated using deep forms of authentication on the RNR blockchain network.”

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#Beeple #Instagram #NFT
Sahaj Sharma
Sahaj Sharma

Sahaj is an aspiring journalist with a keen interest in cryptocurrency and the whole concept of Blockchain technology. He is positive about the future potential of Cryptocurrency and Blockchain in shaping the world of finance for good. At present, he is covering the latest developments in the field of the cryptosphere.