According to the report, Meta is expected to make an official announcement on this as early as next week. Additionally, Instagram will not charge users for posting and sharing NFTs.

Instagram will feature a small group of NFT enthusiasts based in the U.S. during the initial integration phase. 

Also Read: Google and Meta Facing New EU Regulations To Curb Illegal Content

In March, Meta CEO Mark Zuckerberg hinted that Instagram is working on bringing NFTs to its platform in the following "several months." 

Zuckerberg has said that users would be able to bring existing NFTs over to Instagram and "hopefully be able to mint things within that environment."

The Financial Times previously reported that Meta would follow up its NFT pilot on Instagram with minting and group membership options on Facebook.

Social media giant Twitter Inc (NYSE:TWTR) launched a feature in January that allows iOS users on its subscription service Twitter Blue to feature their NFTs as their profile pictures.