Twitter Announces Ethereum Tipping Feature, TWTR Stock Slightly Down

UTC by Ibukun Ogundare · 3 min read
Twitter Announces Ethereum Tipping Feature, TWTR Stock Slightly Down
Photo: Depositphotos

The Tips feature allows users to receive money, BTC, or ETH through the third-party payment service added to their profiles.

Social network company Twitter Inc (NYSE: TWTR) has taken a step further into the crypto space by incorporating Ethereum tipping and wallet support onto its platform. Twitter has updated its tipping policy. Interested users can now copy their Ethereum address and paste it on “whatever wallet” they use. Currently, the new tipping feature is only available on mobile. Twitter announced the Ethereum tipping feature after unveiling Bitcoin tipping in September.

The introduction of the Ethereum tipping feature also came after the departure of former CEO Jack Dorsey. Apart from Bitcoin, Dorsey does not seem to have an interest in other cryptocurrencies, including Ethereum. He once suggested that Ethereum is “centralized” and fueled by “corporate-controlled lies.” However, Twitter has been exploring projects based on Ethereum since he stopped being the CEO. In November, the company launched a crypto team to focus on developing dapps. In addition, Twitter also started verifying NFT profile pictures last month. Speaking to CoinDesk, the lead product manager of creator monetization at Twitter, Johnny Winston, said:

“We’re continuing to expand ways to get paid on Twitter which includes more choices for creators and fans who want to use crypto. We’re excited to add the ability for anyone to add their ETH address to Tips.”

The social network company rolled out Bitcoin, tipping over the lightning network, allowing users to connect their lightning addresses to their accounts. When Twitter began the Bitcoin tipping, product manager Esther Crawford said the feature will initially be available on Apple’s iOS. Crawford wrote:

“People already drop links to their payments profiles in their bios and in their Tweets. Tips makes this easier to do, offering one fixed spot, right on your profile, where you can link to their Cash App, Patreon, Venmo and other platforms where people can support you.”

Twitter Adds Ethereum Tipping Feature After Announcing BTC Tips Last September

The Tips feature allows users to receive money, BTC, or ETH through the third-party payment service added to their profiles. The social network company said it created Tips to provide an easy way to direct people to support others. With Tips, anyone can support a content creator or help someone raise funds. Additionally, the feature can be used in sending money to someone who needs help or thanking someone that makes others laugh.

Twitter keeps expanding its products and keeping up with the latest technology. Last month, the company announced NFT profile pictures for Twitter blue subscribers. That means that selected Twitter users will be able to use NFTs as their profile pictures. Despite announcing the Ethereum tipping feature, Twitter is down 1.32% to $35.76 in pre-market trading.

Even with the different launches and unveiling of several products, TWTR has steadily declined over the past year. The company has dropped 49.52% in the last twelve months and lost over 16% since the year began. Twitter further plummeted 28.39% in the last three months and shed nearly 3% over the past month. In the last five days, TWTR is down 4.20%.

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Ibukun Ogundare

Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience. Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.

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