NFTs are coming to Instagram, says Mark Zuckerberg; former Diem team raises US$200m for Aptos project
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The metaverse-digging, monochrome T-shirt-wearing, Lego-haired CEO was speaking on Tuesday at the South by Southwest interactive media and entertainment conference in Austin, Texas.
Zuckerberg said Meta was “working on bringing NFTs to Instagram in the near term,” adding: “Over the next several months, [we’ll have] the ability to bring some of your NFTs in… hopefully over time [we’ll] be able to mint things within that environment.”
At #SXSW, Mark Zuckerberg just said that “hopefully” in the coming months you’ll be able to mint NFTs within Instagram
— Casey Newton (@CaseyNewton) March 15, 2022
Interesting to see what Zuckerberg has to say about metaverse clothing, didn’t know robots picked their own clothes.
— WELLDRESSEDSOCIETY (@WDSNFT) February 28, 2022
In January, a Financial Times report cited two sources stating Meta was working on NFT features for its leading social media applications, Facebook and Instagram. And on January 31, Meta joined the nonprofit Crypto Open Patent Alliance (COPA) that has a chief aim to “remove patents as a barrier to growth and innovation.”
By joining COPA, Meta has effectively agreed not to enforce crypto-related patents, thus embracing the open-sourced ethos of the wider crypto community. COPA was founded by Jack Dorsey’s Block, formerly Square, Inc., and consists of more than 30 members, including MicroStrategy, Kraken and Uniswap.
Meta joins COPA's board! This is the biggest commitment to patent non-aggression in crypto to date. More coming. https://t.co/RWAg2XRcJl
— COPA (@opencryptoorg) January 31, 2022
That initiative was finally laid to rest earlier this year, however, it’s been revealed that several former Meta staffers who worked on Diem have now raised US$200 million to develop and expand a new blockchain project known as Aptos.
1/ 🌊 As part of our mission of building a L1 for the next billion users, we are thrilled to announce two things:
a) Our new $200M funding round led by a16z…
b) Launch of our devnet! Special invite somewhere below 👇 https://t.co/ApU0j1lZCu
— Mo Shaikh (@moshaikhs) March 15, 2022
The round was led by Andreessen Horowitz (a16z) with Multicoin Capital, 3 Arrows Capital, Tiger Global, FTX Ventures, Coinbase Ventures and more also contributing.
“Since departing Meta (formerly Facebook) we have been able to put our ideas into motion, ditch bureaucratic red tape, and build an entirely new network,” Aptos stated, adding: “our mission is to create universal and fair access to decentralised assets for billions of people.”
The Aptos team is building a decentralised layer-1 blockchain partly based on Move, which is the coding language that was developed for Diem.
The funding will reportedly be used to hire new staff and to support “companies, brands and builders” who are looking to develop projects on the Aptos blockchain. Apparently Aptos DeFi, NFT, Web3 social media and payments applications are already in the early stages of development.