Wow! The crypto ecosystem in 2022 has been nothing less than a DARK 2.0! From market crashes to various network upgrades to institutional layoffs and topping it all; the FTX collapse. Here is another interesting news that is so far a rumor, but it should not be coming as a surprise to the crypto community! Elon Musk’s Twitter is now being said to be working on a ‘Twitter Coin’.
Ever since Nima Owji, who runs an app-focused information leak account on Twitter, shared his tweet, the social media users are churning out rumors that Twitter is looking at introducing its own native asset called “Twitter Coin”! The coin is speculated to be used for payments and tipping on the platform.
A few days ago, on December 4, 2022, Nima Owji posted a screenshot of what looks like a snap of a prototype Twitter interface which has a section showing a “Coins” option for tipping. The screenshot also includes a vector image displaying a coin bearing Twitter’s logo.
— Nima Owji (@nima_owji) December 3, 2022
What is tipping? Back in September 2021, Esther Crawford, the Twitter staff product manager mentioned in a blog post that users are already dropping links to their payment profiles in their bios and in their Tweets. To make it simpler, Tips is here to offer one fixed spot, right on the user’s profile, where they can link their Cash App, Patreon, Venmo, and other platforms where people can support them.
While the rumor has gained momentum since Nima’s tweet, many other users of the app have also pointed to tweets from a tech researcher Jane Manchun Wong. She had claimed to have been able to extract a code from a specific version of Twitter’s web app and found the same information as Owji. However, the post itself and Wong’s account have since been deleted for reasons still unknown.
With Elon Musk’s recent interest in the crypto space, the news will not come as a surprise. Since the rumor started, there have been a lot of tweets going around the #TwitterCoin with people excited for the news but ultimately not surprised.
New buzz circulating about a “Twitter Coin” and it has been trending. No doubt, twitter is hard at work in integrating a payment system of both fiat & crypto, and no doubt, for crypto, #TwitterPiPayment is the most viable option. Nothing better than Pi out there. Time will tell. pic.twitter.com/kTs3lS4Tk2
— Woody Lightyear π (@WoodyLightyearx) December 5, 2022
The ever-present love for Dogecoin that Elon Musk has shown has got the members of the fervent Dogecoin community on Twitter and Reddit connecting the information available have also tried connecting to claim that Twitter Coin is just a placeholder name for Dogecoin!
— 🎄Pythadoge🎅 (@pythadoge) December 5, 2022
The rumors might just come true very soon as Elon himself mentioned on a recent Twitter Space session; while talking to 2.5 million audience members along the same line; that he is still thinking about integrating crypto with the social media platform. Elon said, “It is kind of a no-brainer for Twitter to have payments, both fiat, and crypto.”
With the $44 billion takeover that went through in October, Musk has overseen a lot of changes within Twitter, specifically changes relating to censorship policy, information disclosures, and botting activity.
Read more: Top Conversations on Crypto Twitter