.instagram could simplify the process of buying and selling NFTs with its planned support, DeutscheBank said in a report. By willcanny99
Bringing non-fungible-tokens to Instagram’s large audience has the potential to supercharge the overall market , Deutsche Bank said in a research report on Sunday.that the company was “working on bringing NFTs to Instagram in the near term.”
The launch of an NFT marketplace on Instagram is highly likely to gain traction, the report said. Based on typical NFT marketplace fees and conservative assumptions about user penetration and average transaction values, the bank estimates that a broader rollout of an NFT marketplace on Instagram could drive up to $8 billion in net annual revenue.
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