News hardware Barely redeemed, Twitter is already suffering from Elon Musk’s crypto fads
While Elon Musk is about to finalize his acquisition of the social network Twitter, new web3 features are already in development. After offering the possibility of making tips in crypto for the creators of the platform, Twitter is going even further in adoption with this feature still in the prototype state.
Twitter should offer its own crypto wallet
It surely did not escape you, the American billionaire Elon Musk should soon conclude from Twitter. Precisely, the redemption deadline is set for Friday, October 28, but the CEO of Tesla did not wait to rename himself “Chief Twit” on Twitter.
Very invested in cryptocurrency, it could be that Elon has already started working on the social network by developing the use of cryptos on it. Known for its adoption of web3, Twitter has surely taken another step in the democratization of cryptos.
Indeed, Twitter would work on a prototype crypto wallet accessible directly on the social network. This novelty should allow users to deposit cryptos, store them and withdraw them, like a metamask or a trustwallet (popular crypto wallets).
This leak comes from tech blogger Jane Manchun Wong:
Twitter is working on a “wallet prototype” that supports “crypto deposit and withdrawal”
—Jane Manchun Wong (@wongmjane) October 24, 2022
For the time being, nothing has been confirmed, but this addition of a crypto wallet should facilitate exchanges by going directly through the social network. With such a novelty, Twitter seems to continue its conquest of web3 and uses (cryptos, NFT, etc.).
Twitter on the way to the web3
The social network is affectively not at its first attempt. In September 2021, Twitter took a first step towards blockchain technology by offering the ability for users to tip Bitcoin, Ethereum or other cryptos to creators on Twitter.
Subsequently, the platform had extended its use of the blockchain by offering to certify the NFTs of the profiles. Thus, with the Twitter Blue subscription, a collector of virtual works can display their NFT and properties in a hexagon-shaped profile picture.
With these various additions, the platform was very early on enthusiastic about the idea of new web3 technologies. If the rumor of the addition of a crypto wallet turns out to be true, then it would seem that Twitter is determined to continue its adoption, despite the crypto winter.
From this project could result a multitude of functionalities related to the blockchain, since we know it, Elon Musk is an aficionado of these new virtual technologies. For the moment, all this seems coherent because Elon Musk has never hidden his ambition. He wants to make Twitter a “do-it-all application”.
Buying Twitter is an accelerant to creating X, the everything app
— Elon Musk (@elonmusk) October 4, 2022