One phenomenon that dominated the tech scene in early 2021 was the rise of NFTs or non-fungible tokens, a blockchain-based way of verifying the ownership of digital property such as artwork.
Similar to the cryptocurrencies that utilize a similar technology model, namely the ledger to record changes in ownership as well as identify the current owner of the token, NFTs are also being traded like Bitcoin and Ethereum with some digital artists raking in tons of money in the process.
Beeple, for example, sold his collection of digital artwork spanning the past decade for $69 million dollars and, while no one has matched that, it set off a tidal wave of interest in the field.
And now it looks like social media platform Twitter is getting in on the action with a much-promised feature that lets users show off their NFT collections on the account profile page.
Of course, it’s worth noting that Twitter isn’t the first tech company nor even the first social media firm to dip its toes into the crypto waters. Facebook announced a much-vaunted then much-maligned cryptocurrency platform, making Twitter’s ambitions relatively tame by comparison.
Naturally, the real benefit of such an integration on Twitter’s part will really help gain recognition for the many NFT artists and creators out there looking to blockchain as a way to secure and monetize their work.
It’s worth pointing out that most people that don’t keep up with tech let alone the equally fast-changing world of social media might be caught a little off guard with this development.
After all, what does Twitter have to do with NFTs, an ostensibly financial product at the end of the day?
It all comes back around to what the users want, and they want an easy way to show off their NFT collection according to Twitter’s development team.
Twitter promised the feature back in September due to user requests and software engineer Mada Aflak showed off some of the early sketches of what they had on the drawing board back then. Let’s just say that things advanced quite a bit since then.
What Twitter showed off back in September included the ability to connect your Twitter account to your NFT wallet of choice, such as Coinbase. The user could then select one of the NFT in their collection on Coinbase or another wallet and use that file as their NFT-verified profile photo.
In an updated look, The Verge reports that reverse engineer Jane Manchun Wong has uncovered the NFT “Collectibles” tab as well as more detailed information about how the social media service plans on handling NFT data.
In the “details” view, users can see the title, creator, description, and owner of the NFT, among other pieces of data. The plan is to integrate NFTs into the core user profile and Twitter experience in what some see as a potential major leap forward for the emerging market. Whether this move on Twitter’s part signals a broader sea change with regard to NFTs in the mainstream remains to be seen but it will certainly be a show worth watching for both tech investors and enthusiasts alike.