Twitter to let users tip creators with Bitcoin, to enable users authenticate NFTs, to incentivize Spaces

 

On Thursday, Twitter said that it was rolling out two new features for its users. It had earlier tested tipping creators on Twitter with Bitcoin. This week iOS users will be able to tip their favorite creators on the social media platform with Bitcoin. Android users have to wait for a few weeks. The social media platform also said that users could authenticate the ownership of non-fungible tokens (NFTs) they post with a special badge.

 

Strike, a Bitcoin wallet app that runs on Lightning Network Protocol helps users to tip creators on Twitter. The company received funding from Jack Dorsey. Users can also add their bitcoin address to Strike. This will make it easier send and receive tips through crypto currency.

 

Earlier users, used to tip their favorite creators using Dorsey led Square or PayPal’s Venmo. Twitter does not take a cut on any of the tips sent through any method.

 

Twitter will also let people connect their crypto wallets to support authentication for NFTs. This authentication will be in a form of a badge that will be shown on profile pictures. It will mark the owner’s NFT as authentic, according to a spokesperson for the company. NFTs have become a popular way by which digital art is bought and traded on the Ethereum block chain.

 

Twitter has also announced that it will launch a creator fund for those who host audio rooms in its feature “Spaces” which debuted last year. It hopes that the new fund will work as an incentive for a larger number of users to host live audio events on its platform.

 

Jack Dorsey has always been a strong advocate for the Bitcoin, so it is not surprising that Twitter has rolled out Tipping through digital currency. However, this news has come at a time when China has started its harshest crackdown on cryptocurrency. Beijing has banned all cryptocurrency-related activities, both domestic and international.

 

 


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