Twitter released verified NFT profile picture feature as the platform is embracing non-fungible tokens at a fast pace as we can see in today’s cryptocurrency latest news.
Social media giant Twitter released verified NFT profile picture feature for users. In the past, anyone was able to right-click and copy an image with no proof of ownership and without digging into the history to check it. This feature, however, will be available to paid subscribers of Twitter’s Blue Service and the official NFTs will be highlighted by the hexagonal border rather than the traditional circular one used for the profile pictures. The move came from the company’s biggest push into the NFT space to date and Twitter became a social media platform of choice for the industry over the past few years.
You asked (a lot), so we made it. Now rolling out in Labs: NFT Profile Pictures on iOS pic.twitter.com/HFyspS4cQW
— Twitter Blue (@TwitterBlue) January 20, 2022
There are always ways around it for hackers to copy an image, mint an NFT with a blockchain address and upload it to the profiles. Twitter has yet to confirm how it aims to combat the digital thievery that could occur. Company product lead Esther Crawford said that the platform is positioning itself as the social network for the conversation and education around blockchain and crypto:
“Crypto is a key pillar of Twitter’s future. We want to support this growing interest among creators to use decentralized apps to manage virtual goods and currencies.”
Twitter uses a third-party API to grab the users’ NFT from the OpenSea marketplace that acts as a verification. If OpenSea has issues, Twitter might not be able to verify the images and the tokens. The competition in the NFT space is heating up and the social media companies all want to be ahead. MEta is also working on plans to allow users to create and sell NFTs on the Facebook and Instagram marketplace. Twitter also announced that it will be launching a new division to focus on crypto, dapps, NFTs, and blockchain.
The NFT ecosystem saw huge growth in 2021 which continued into this year. According to Nonfungible.com, there has been $517 million in NFT sales in the past week alone and 277,509 NFTs have been sold on secondary markets. Collection tracker CryptoSlam is reporting the most popular collection in the past week being Meebits with $1.9 billion on secondary sales trade volume.
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