FACEBOOK parent company Meta might be the latest entrant into the wild world of non-fungible tokens (NFTs).

Citing “several people familiar with the matter,” a new report in the Financial Times claims that teams across Facebook and Instagram are planning for features that would allow users to display the tokens on their profiles, along with another prototype that would let users mint NFTs directly on the platform itself.

According to the report, two of these sources also noted that Meta has discussed rolling out a marketplace for users to buy and sell the tokens within the platform, too. It’s hardly the first social media conglomerate to propose this idea; Reddit already started hiring for roles to build out its own NFT marketplace late last year, not long after fellow social giant Twitter hinted at plans to implement NFTs into specific posts on the platform.

For those who’ve managed to avoid the inexplicable hype, NFTs are digital assets associated with a given piece of content, be it an intricate artwork, a literal drawing of a rock, or just a concept. These assets, which are often one-of-a-kind, live on a blockchain associated with a form of cryptocurrency, like Etherium, where every auction, sale, or price hike can be logged for the world to see.

The report notes that any of Meta’s efforts in the space “are at an early stage and could yet change.” That said, this is hardly the first time the company has proposed working with these tokens.

Meanwhile, Instagram head Adam Mosseri said last month that the platform is “actively exploring” NFTs, and thinking up ways how the company “can make them more accessible to a wider audience.” (SD-Agencies)