Instagram today debuted a new feature called “Nametag,” which is a customizable identification card that’s designed to allow people to…
— Read on www.macrumors.com/2018/10/04/instagram-launches-new-nametag-feature/

Nametag is basically a QR code that Instagram users can use to help become friends easier. 

This is a feature that some other apps and companies use to speed up the discovery. Snapchat has used this for a while with your snap code which you could decorate with your bitmoji. 

I’ve never had an issue finding friends but features like this are always welcomed.