To capitalize on the rapidly expanding NFT market, Twitter has initially offered this service as a part of its subscription services.
Another Boost for NFTs
Twitter has opened the gates for NFT representation on the platform with the use of the images as profile pictures.
The microblogging and social networking service has announced a feature on January 20 that allows usage of non-fungible tokens (NFT) as profile pictures via iOS devices. The feature is available to subscribers of the platform’s Twitter Blue service. Any NFTs that are uploaded as pictures would be represented in a hexagonal shape as opposed to the usual circle shape that the user’s profile pictures are in.
“Crypto is a key pillar of Twitter’s future. We want to support this growing interest among creators to use decentralized apps to manage virtual goods and currencies,” Esther Crawford, Twitter’s product lead for the new product, as quoted by Salvador Rodriguez of WallStreetJournal. “This is just still very early days for us, but we wanted to build something that was a utility for this community that they could start interacting with right now.”
Additionally, the complete information of the NFT will also be available to view once users click on the NFT picture. Crawford mentioned that with this development, Twitter is positioning itself as the social network for the discovery, conversation, and education around NFT, blockchain, and crypto technology.
“We know that for many people, their first experience of NFTs will happen on Twitter with this feature and with the conversations that are taking place on the platform,” added Crawford.
Currently, the feature only allows users to connect their Ethereum wallets; thus naturally only NFTs based on the Ethereum network can be used on the platform. Thus putting forward the question about when this integration will expand to the networks like Binance Smart Chain (BSC) and Solana. These networks have witnessed high demand for NFTs as well in the past year. Recently, the total market cap of NFTs on Solana hit over $1 billion and currently stands at nearly $932 million, as per data from Solanalysis.
It is important to note that Twitter Blue is currently operated with an inexpensive subscription model, priced at $2.99 a month in the U.S.
Source : bsc.news
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