Instagram had NFT features?
What makes them have "NFT features"? (except some tags and the obvious "NFTish" art style)
I don't use Instagram either but a Google image search shows a "digital collectible" checkmark in the bottom left corner. I hope this wasn't the whole thing as I don't see what would stop you from putting this checkmark into the image.
And yes it says "Digital Collectible" and the image animates back and forth in a partial spin before settling into place.
It's just token ownership. What ties tokens to actual physical assets is the institutional framework of laws, contracts, courts and law enforcement. Not a glorified pointer in a glorified ledger.
Times can and should change.
NFTs are on their death bed, there's nothing early about this.