The parent company of Instagram, Meta, reportedly disclosed its intention to introduce a text-based chat app to compete with Twitter. Leaked screenshots of the alleged app depict a Twitter-like user interface. Users will be able to reach a wider audience thanks to its decentralization and compatibility with other decentralized social media apps like Mastodon. This summer, Instagram plans to release a Twitter-like app. The creation of a stand-alone, decentralized social network for text update sharing has been confirmed by Meta.
A Web5 decentralized web platform that aims to give applications “decentralized identity and data storage” has been announced by TBD. Facebook and Instagram NFTs were stopped by Meta.
Instagram to reportedly launch text-based app to rival Twitter
