x
Black Bar Banner 1
x

Welcome to Markethive

Twitter Rolls Out Bitcoin Tipping Worldwide, Verified NFT Avatars

Posted by Andries Van Tonder on September 24, 2021 - 8:26am

Twitter Rolls Out Bitcoin Tipping Worldwide, Verified NFT Avatars

Twitter users can now send each other Bitcoin as tips starting today.

By Jeff John Roberts

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.

Listen to The Decrypt Daily Podcast

Your daily dose of cryptocurrency news, learning, gossip, and discussions. Listen

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 company sent a series of tweets illustrating how users can use the crypto tipping feature:

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.

Twitter NFTs

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.

Andries Van Tonder Thanks for reading it Bill
September 24, 2021 at 3:47pm
Bill Rippel That’s very interesting. I wonder how that will turn out.
September 24, 2021 at 3:44pm
Andries Van Tonder thank you Adonel.
September 24, 2021 at 10:32am
Adonel Lowings Twitter uses will be given two options to employ Bitcoin tips. Thanks for sharing.
September 24, 2021 at 10:31am
Andries Van Tonder thank you for reading it Clement
September 24, 2021 at 10:01am
Francois Viljoen Thank you very much for the information
September 24, 2021 at 9:43am