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Top Crypto News Today: Twitter Users are now allowed Buy and Sell NFTs through tweets

Top Crypto News Today: Twitter Users are now allowed Buy and Sell NFTs through tweets

A recap on Twitter’s liaison with NFTs

Twitter’s co-founder Jack Dorsey sold his tweet for $ 2.9 billion to crypto entrepreneur Sina Estavi last year. Twitter Blue has been testing the NFT profile picture feature for quite some time. The feature was accessible to selected blue tick verified accounts. Users of these accounts could change their circular picture to hexagonal NFTs to flaunt their asset. 

Fast Forward to Twitter allowing users to trade NFTs

Twitter announced that it will allow its users to sell and buy NFTs via NFT Tiles, a mechanism that Twitter has been working on for a while now. Twitter has established partnerships with four NFT marketplaces for the same.

How will Twitter Tiles work? 

The integration of Twitter Tiles will allow users to display artwork NFTs in a tweet panel which will have a button for users to check the NFT on the respective marketplace. 

Currently, Twitter Tiles is integrated with Solana-based NFT marketplace Magic Eden, Multi chain NFT platform Rarible which also has its own native token called RARI, Flow blockchain creator Dapper Labs, and Sports-related NFT platform Jump Trade. 

These marketplaces collectively cover popular blockchain networks like Ethereum, Solana, Flow, Polygon, Tezos, and Immutable X. These networks have a vibrant community of artists and artwork collectors making it the most eventful partnership to happen in the history of social media and blockchain. 

A spokesperson from Twitter confirmed to Decrypt – a major crypto publishing firm that the new mechanism will support NFTs that are minted or are published on one of the partner platforms. 

The representative from Twitter also added that the new feature is under testing for selected iOS and web users. A blue tick verified account is not a mandate to be eligible to use the feature. 

Twitter tested NFTs with users willing to display them as profile pictures. However, Twitter supports only Ethereum-minted NFTs for now. 

Elon Musk finally invests in Twitter

Well Musk has finally got his hands on the blue bird.

In fact Musk even added Chief Twit to his bio hours after taking over Twitter. Elon faced slander for backing out from the Twitter deal as he believed that the number of users shown to him on Twitter did not add up. 

Elon Musk made a statement that he wants to defeat the way bots are being used on Twitter and the not so uniform algorithm of Twitter that is not able to offer content for the user as it should. He also added that he will work on the unnecessary hate speech and other censorship-related content that needs taming.      

With a major turnaround for Twitter’s ecosystem, Musk tried to address the fears of Twitter employees who are contemplating a lay off owing to rumors on the internet. Musk tweeted an open letter to explain his takeover of Twitter and what it means for the company and the advertisers. 

Musk has not shared any major business model changes yet. He closed the Twitter deal at $ 44 billion after months of discussion on the stake buy.

Source: Decrypt

Additional Read: Meta To Include NFTs to Facebook and Instagram For Users

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