Twitter has added a new feature that lets people check if NFTs used as profile pictures are real or not. Before, anyone could right-click and copy the picture. However, if you did not look through the Ethereum blockchain, you could not be sure it was real.
The feature will be available only to Twitter Blue subscribers starting on January 20. Instead of the traditional round border used for regular profile pictures, NFTs will have a hexagonal border.
As a result of this move, the company marks its most significant entry into the NFT space to date.
However, one downside is that advanced users can download the image, cut out the NFT, and upload it to their profiles. Twitter hasn’t yet confirmed how it plans to handle this issue.
NFT on Twitter
The company’s product manager, Esther Crawford, told the Wall Street Journal that Twitter is positioning itself as a social network for NFT, blockchain, and cryptocurrency technology.
“Twitter is committed to supporting developers who wish to use decentralized applications to manage their virtual goods and currencies.“
NFTs are downloaded from the user profile on the OpenSea market by Twitter’s API (application programming interface). This is how authenticity is verified. If OpenSea has problems, Twitter may not be able to verify the tokens.
Facebook and Instagram are reportedly working together to make it possible to create and sell NFT using Facebook and Instagram. Social media companies want to become pioneers in this field, and Meta is among those working to make it possible.
Earlier this month, Twitter announced the formation of a new division devoted to NFTs, cryptocurrencies, DApps, and blockchain technology.
Since the beginning of 2021, NFT’s ecosystem has thrived. According to Nonfungible.com, non-removable token sales reached 517 million dollars over the past week, and 277,509 NFT have been traded on primary and secondary markets.
Meebits was the most popular collection over the past week, with 1.9 billion dollars on the secondary market.
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Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.
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