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Twitter on Thursday rolled out its bitcoin tipping feature that will allow anyone using the platform to send and receive tips in the cryptocurrency.
It is also looking to authenticate non-fungible tokens displayed on people's profiles to determine if the user actually owns them.
The bitcoin tipping feature, which was made available to select users earlier this year, will first be available to iOS users before launching in Android.
The company is also adding more payment services apart from the seven it currently has, which include PayPal and Venmo. As for bitcoin, Twitter will be using payment application Strike that is built on the Bitcoin Lightning Network. This allows users to send and receive bitcoin free and instantly, the company said.
Strike is available to people in El Salvador and the US, excluding Hawaii and New York.
The "Tip Jar" was a feature first rolled out in May as a way to help creators earn income based on their contribution to public discourse, Twitter said.
"This compensation can be an important incentive for meaningful conversations while giving more people more ways to interact with the content they love," Twitter added.
CEO and founder of Twitter, Jack Dorsey, is among the biggest advocates of the digital asset. He has been vocal about his committement to bitcoin both through his Twitter account and in public appearances. In August, Dorsey announced his plans to build an open platform to create a decentralized exchange for bitcoin through TBD, his new business venture.
As for NFTs, Twitter said it is looking into how to ensure artworks showcased are genuine. It still has no concrete plans but said it is currently exploring different ideas.
NFTs - digital representations of artwork, sports cards, or other collectibles tied to a blockchain - had a banner month in August, with sales volume rising to record highs.
When people buy NFTs, they gain the rights to the unique token on the blockchain, not the artworks themselves. But the fact that the information on a blockchain is next to impossible to alter makes NFTs appealing, especially to collectors and artists.
Another feature the company announced Thursday was Super Follows, a monthly subscription service that will allow creators to charge fees for access to premium content.
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September 24, 2021 at 02:42AM
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Twitter will now allow all users to send tips in bitcoin - Markets Insider
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