Twitter Rolls Out Bitcoin Tipping Worldwide, Verified NFT Avatars
Twitter will begin rolling out Bitcoin-based payment features starting on Thursday, including support for Lightning wallets, as part of a larger plan to support creators on its platforms.
The company announced the features on a call with reporters, noting that “Bitcoin operates without global barriers” and declaring that its crypto initiatives will help it participate in the “evolving decentralized news.”
Twitter uses will be given two options to employ Bitcoin tips. The first is via a menu of payment options that include Square’s Cash App and Go Fund Me, which will let users send tips to a Bitcoin address or send money in a more conventional way.
The other is via Strike, a Bitcoin payment application built atop the Lightning Network—a so-called layer 2 service that is meant to improve speed and reduce transaction costs.
Twitter said Bitcoin tipping will be available on Thursday to everyone in the world who uses an iOS device, and that support for Android devices will arrive in the near future.
The Bitcoin tipping rollout comes as the company has been rapidly accelerating the launch of community and payment products to help its users make money off their activity off the platform. Those products, which have been available to a very small group of people, include service called “Super Followers” and “Spaces,” which let users host events for dedicated audiences.
The company’s Thursday announcement also included plans to “explore NFTs for authentication.” NFTs, also known as non-fungible tokens, let people create unique digital artifacts on a blockchain.
Twitter provided the image below, titled “Twitter NFTs,” but provided few details about what exactly the company intends to do with them.
“It’s a way to support creators making this art with a stamp to demonstrate authenticity,” said Twitter executive, Esther Crawford. “By allowing people to connect their Bitcoin wallets, they can track and showcase their NFT ownership on Twitter.”
Crawford also stated that the NFTs could come in the form of badges, and “make it visually clear this is an authenticated avatar”—suggesting the tools could complement Twitter’s existing system of offering blue checkmarks to some users.
In response to questions from Decrypt, a Twitter spokesperson declined to say what blockchain the NFTs would be hosted upon, or when exactly the feature would be offered.
The company also announced a series of other product updates, including a planned expansion of its 280 character limit on tweets, as well as a fund to support creators who use Spaces.
23 September 2021 17:00