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Before the news of a Twitter crypto wallet, the social media platform has been supporting cryptocurrencies.
Social network company Twitter (NYSE: TWTR) is reportedly working on its own crypto wallet. The matter was revealed by tech blogger Jane Manchun Wong, who is famous for reporting to-be-launched tech features. According to the report, the project is currently under development. When should we expect it? Would it be available to all Twitter users? Will it support all cryptocurrencies? None of these questions have been answered yet.
Twitter Is Reportedly Developing Crypto Wallet
Specifically, Wong noted in a tweet posted on the 24th of October that Twitter is working on a “wallet prototype.” Also, the crypto wallet will support deposits and withdrawals. Apart from revealing the development of the crypto wallet prototype, the tech reporter did not pass on any other information. When asked to share more on the matter, she said she would divulge more when more details become available.
Before the news of a Twitter crypto wallet, the social media platform has been supporting cryptocurrencies. Last year, the company unveiled a feature that allows users to tip content creators with Bitcoin. A few months later, Twitter-native crypto tipping became available for Ethereum users. While Jack Dorsey was the CEO, the company rolled out several features that let users link their crypto wallets to their profiles. Not long ago, users also started displaying their non-fungible tokens (NFT) on their profile pictures. With the addition of crypto wallets, Twitter is about to become a full-fledged Web3 platform.
Furthermore, Twitter has a separate division named “Bluesky,” which is an initiative targeted at developing a decentralized social network protocol. With Bluesky working as a social protocol, platforms will be able to operate beyond a traditional company structure. The initiative was founded by Dorsey, announced in 2019, and is currently in its research phase. Ahead of its launch, Bluesky asked interested people to join its waitlist to try the beta. It added:
“It’s clear there’s a lot of interest in a new approach to social media. We’ll be rolling out invites to the private beta in stages, making sure the protocol scales and taking user feedback as we go.”
In a tweet, the decentralized social media protocol announced that it got 30K sign-ups for its app’s waiting list in 48 hours.
Coinspeaker reported yesterday that Twitter is working with NFT marketplaces on a new NFT feature called “tweet tiles.” With the latest feature, users can share NFTs and call-to-action (CTA) collection objects on the platform. Tweet files has notably been in testing since August, and the likes of the New York Times and other reputable media outlets had access to them.
A recent press release reads that “the ability to embed NFTs, complete with relevant information and a direct link to the marketplace, will drive sales and support the discovery of new and trending collections.”