Twitter & NFTs?
Image Source: WWD
By: Michael Argenta
January 23, 2022
Since gaining traction in 2021, non-fungible tokens (NFTs) have taken the world by storm. Although many people are still unfamiliar with the new phenomenon, cryptocurrency enthusiasts enjoy buying NFTs such as photos, video, and audio recordings. These assets are uniquely the holder’s property as a certificate of authentic ownership of a virtual good. Once purchased, holders can trade, store, or display their tokens in their digital wallets.
On Thursday, January 21, 2022, Twitter (TWTR) launched a new Twitter Blue subscription service feature allowing users to put NFTs as their profile picture. By allowing users to use NFTs as profile pictures, Twitter is stepping up as a platform for conversation and education of the new asset class. Not only will users be more exposed to non-fungible tokens, but cryptocurrency assets and blockchain technology.
NFT profile pictures will be recognizable as hexagon-shaped images, visible to all users. In order to utilize this feature,Twitter Blue users must connect and verify their crypto wallet, first. Once their profile picture is uploaded, other users will be able to click on the NFT and see more information on it. This rollout will expose Twitter’s 211 million active users to non-fungible tokens each day.
In November 2021, Twitter unveiled Twitter Crypto, a unit “focused on crypto, blockchain, and other decentralized technologies.” Now, in January 2022, Twitter is joining the NFT space, promoting digital assets. Overall, this shows how Twitter is a company that is ready to adapt to emerging norms and user interests. It will be interesting to see if this move inspires more NFT and cryptocurrency investors because, after all, social media has power.