Summary:
- Twitter announced the development of a blockchain feature for non-fungible tokens.
- Dubbed “NFT Tweet Tiles”, the update could allow users to buy and sell NFTs through tweets on their timelines.
- The feature is Twitter’s first crypto-focused move since Elon Musk acquired the social network for $44 billion.
- Earlier, paid subscribers of Twitter’s Blue service received the option to make an NFT their avatar.
Elon Musk’s Twitter updated users on Friday that a feature to power the buying and selling of non fungible tokens (NFTs) is in the works. According to the official announcement tweet, four marketplaces will serve as partners in the update dubbed “NFT Tweet Tiles”.
NFT Tweet Tiles will showcase NFTs images via tweets with details including the NFT name, creator tag, and an option to view the digital collectible on one of four marketplaces.
Per Friday’s announcement, the social network has partnerships with aggregator and NFT trading platform Rarible, Solana’s leading NFT marketplace Magic Eden, Flow blockchain developer Dapper Labs, and sports entity Jump Trade.
It’s unclear if Elon’s social network plans to extend partnerships to other marketplaces like OpenSea. However, the four NFT partners boast support for a plethora of blockchains that power NFT communities including Ethereum, Flow, and Solana.
The feature is in the test phase and only available to a few iOS and web users.
Musk’s Twitter Makes First Crypto Move
NFT Tweet Tiles marks the platforms first cryptocurrency move since Tesla boss and billionaire Elon Musk took over the company. Following delays with the deal, Elon’s $44 billion acquisition went through on Thursday.
Musk plans to take the company private as the new CEO after former chief Parag Agrawal was fired. The New York Stock Exchange said the company’s shares will get delisted come November 8, 2022.
Back in November 2021, Twitter announced NFT profile photos for Blue subscribers. The update allowed blue users to upload an NFT from a verified collection as a hexagonal profile photo for their account.
Notably, Elon Musk tagged the update as a “waste of engineering resources” at the time. Musk suggested that the company should focus on eliminating bot and spam accounts, an issue Elon himself has tweeted about severally.
Decrypt reported that a company representative confirmed that NFT Tweet Tiles will be available to all users in due time.