Head of Instagram: “I’m Still Bullish on NFTs”

BY Keisha Oleaga

October 04, 2023

On October 4th, Instagram hosted its first-ever Creator Innovation Summit, a platform dedicated to educating creators on brand development, optimizing Instagram tools, and the innovative use of cutting-edge technologies. During the summit and notable fireside chat between tech influencer Marques Brownlee and Adam Mosseri, head of Instagram, Mosseri stated he’s “still bullish on NFTs.”

In March 2023, Instagram announced they would be removing their NFT-supporting features across the entire platform, a surprise to many at the time.

During the fireside chat, Mosseri expressed why he is still “bullish” despite Instagram removing the NFT features and why,”because I didn’t see it as a meaningful revenue driver for all creators and ended pulling back because they were tightening their belt everywhere and was too high risk.”

The Creator Innovation Summit included keynote speakers; Adam Mosseri, the head of Instagram, Dave Krugman, and Larissa Gargaro, alongside other prominent figures from diverse fields such as photography, filmmaking, tech development, and artificial intelligence.

As the panel continued, Mosseri, delved into the topic of artificial intelligence and the potential applications of AI chatbots for creators. Mosseri discussed the conundrum creators face when choosing the right platforms and tools that align with their business interests. He posed the intriguing question of whether creators should consider creating an AI version of themselves.

“For some creators, it can make sense, and for others, it might not make any sense.” He added

He emphasized the importance of aligning any AI chatbot with the creator’s core interests and values. The challenge lies in ensuring that this AI avatar truly represents the creator without inadvertently promoting their competition. Mosseri also touched on the overwhelming influx of messages and requests creators receive, suggesting that an effectively trained AI could aid in managing these communications.

“The AI version of you has to be interesting, it has to be interesting for me to talk to, it needs to align with your interest, it has to be trained on the content and know your tone, but also you don’t want it recommending your competition, you don’t want it talking shit about you.” Mosseri expressed around how in-depth the idea around AI chatbots or AI working “for you” can be.

A few months ago Meta shared its plans to launch AI-powered chatbots with distinct personalities to bolster engagement across its social media platforms. The chatbots will mimic a range of characters, such as historical figures or casual travelers, and provide recommendations and advice to users.

While the idea remains in its infancy, Mosseri is optimistic about the potential benefits if they can successfully navigate the complexities.

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