Twitter releases new NFT roll out feature

by | Nov 12, 2022 | News, NFTs | 0 comments

Following Elon Musk’s acquisition of Twitter, a new age of cryptocurrency and network-based token integration has begun on the social media site. Alongside the announcement of Musk’s $41.39 billion buyout of Twitter, the beta test of NFT tweet tiles was made public. A subset of users are now testing the functionality in conjunction with the markets on multiple blockchain protocols used by Magic Eden, Rarible, Dapper Labs, and Jump.trade.

The wealthy CEO of Tesla, Elon Musk, commenced his takeover of the social media behemoth, and the platform began testing interesting new NFT features at the same time. The integration of NFT trading was first made available on Twitter as part of a beta test for a limited number of users. Through a newly implemented rollout, Elon Musk’s Twitter is currently powering NFT trading.

The new NFT feature

Following the successful completion of Elon Musk’s purchase of Twitter for $41.39 billion, the social media platform pushed out a feature that allows for NFT trading. In conjunction with the following four major marketplaces—Magic Eden, Rarible, Dapper Labs, and Jump.trade—Twitter has announced that it would enable its users to immediately purchase, sell, and display non-fungible tokens (NFTs) via tweets.

NFT Tweet Tiles is the name of the integration, and what it does is show the artwork of an NFT in a panel that is included inside a tweet. Users may access the listing on the marketplace by clicking on the provided button, which takes them there. For the purpose of the beta test, four distinct marketplaces have been included as partners. The developer of the Flow blockchain, Jump.trade, along with leading NFT marketplace platforms Rarible and Magic Eden, are actively participating in testing the connection.

A number of alternative blockchains, including Ethereum, Solana, Flow, Polygon, Tezos, and Immutable X, are serving as hosts for the markets that are a part of Elon Musk’s launch for Twitter. According to a spokesman from Twitter who spoke with Decrypt, the “feature is presently being tested with select Twitter users across iOS and web.”

Users who are included in the test will see the NFT Tweet Tile integration, and contrary to common perception, a premium membership is not necessary to utilize the functionality. Users who are included in the test will see the integration.

Since 2021, Twitter has embraced cryptocurrencies and non-fiat tokens (NFTs), first by allowing users to pay content producers using Bitcoin and Ethereum and later by allowing verified NFT profile images to be shown on user profiles. It is essential to keep in mind that the social media platform will currently only handle Ethereum NFTs for the foreseeable future.

Musk takes over Twitter

Following a drawn-out court struggle and many months of unpredictability, Elon Musk has finally assumed ownership of Twitter. The issue that arises now is what exactly the Tesla CEO, who is worth a billion dollars, will do with the social networking site.

In a tweet that he sent on Friday, Musk provided a hint as to the direction he is going by declaring that there would be no judgments made on content or the reinstatement of accounts until a “content moderation committee” is established. He noted that there will be a variety of perspectives on the council.

It is generally anticipated that there would be significant staff changes, with Musk having fired some of Twitter’s senior executives on Thursday. In a tweet, a fourth individual confirmed that he would be leaving.

But Elon Musk, the tech expert and self-proclaimed “Chief Twit,” has frequently made contradicting pronouncements about his vision for the firm, and he has disclosed few detailed ideas for how he would operate it after purchasing it for $44 billion. Musk has also been called the “Chief Twit.”