Twitter teases new feature allowing users to brag about their NFT and crypto holdings on social media

Twitter teases new feature allowing users to brag about their NFT and crypto holdings on social media
Preview of NFT HODLers will be able to showcase their collectibles on TwitterScreeenshot/@af_mada
  • One of Twitter’s developers previewed the social network’s new authentication feature for non-fungible tokens (NFTs).
  • The feature was announced earlier this month along with plans to allow users to take payments in Bitcoin through the ‘Tip Jar’ feature.
  • NFT authentication looks similar to the verified badge in some ways.
Twitter announced that it would be rolling out a way for users to authenticate their non-fungible tokens (NFTs) on the platform. Now, the Jack Dorsey-owned social network is giving users an early preview of what that may look like once there’s a full roll out.

The company had said that it is considering multiple options for how to show these badges and Mada Aflak, senior software engineer at Twitter, showed one of those options on the platform today.

Aflak shared a video showing how users can link their personal cryptocurrency wallets and OpenSea accounts to showcase NFTs directly on Twitter. The feature is accessible through the Edit Profile option on Twitter profiles and allows users to choose an avatar from their NFT collection to replace the profile picture. A small Ethereum logo is also displayed underneath the profile picture, somewhat similar to the Blue Tick that appears next to the names of verified users.

Aflak was pretty clear that the video only shows an experiment Twitter is conducting right now, so this may not be the final system that the company employs on the platform. It’s unclear whether Twitter will integrate NFTs from OpenSea alone or how it will choose what platforms can be integrated.

Twitter has big plans for crypto

Twitter’s NFT authentication feature may still only be in the works but the company has big plans for the cryptocurrency space overall. On September 23, Twitter didn’t just announce plans to provide NFT authentication features, it also said that creators and other Twitter users will be able to accept tips in Bitcoin.

This is an extension of the Tip Jar feature, which allows users to integrate payment services like PayPal, Patreon and more to accept one time payments from their followers. Soon, people will be able to link crypto payment services like Strike and their personal Bitcoin wallets.

“We want everyone on Twitter to have access to pathways to get paid. Digital currencies that encourage more people to participate in the economy and help people send each other money across borders and with as little friction as possible – help us get there,” the company said in a blog post.

Left unanswered though is the question on how Twitter will exactly authenticate users and whether or not just integration will leave cryptocurrency wallets more susceptible to theft.

The NFT market itself has been plagued by issues like counterfeiting and copying and the onus is on big platforms like OpenSea and even Twitter to help solve such problems. In its current form, Twitter seems to be passing on this responsibility to dedicated NFT platforms, making itself more of a distribution and discovery platform instead.

For a more in-depth discussion, come on over to Business Insider Cryptosphere — a forum where users can deep dive into all things crypto, engage in interesting discussions and stay ahead of the curve.

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