Twitter is getting more Web3 friendly, but will it last with NFT hater Elon Musk now in charge? – Tesla (NASDAQ:TSLA), Dogecoin (DOGE/USD)
Social media platform Twitter Inc becoming more integrated with the non-fungible token market. As a leading place for the NFT community to interact and share thoughts about the space, Twitter has been NFT-friendly in 2022.
Could the company’s acquisition of Tesla Inc TSLA CEO Elon Musk crush the progress?
What happened: Twitter announced this week the rollout of NFT Tweet Tiles. The new integration allows multiple NFT platforms to showcase NFTs on Twitter with a link to buy the asset in question.
The companies included in the test are Rarible, Magic Eden, Dapper Labs and Skip trading.
The partners will display a large image of the NFT with details that include the title and creator and a link to purchase the asset.
Twitter developers called it “one more step in our journey to allow developers to influence the Tweet experience.”
Rare shared a post highlighting the new feature using an NFT from the popular Doodles collection. Dapper Labs too shared that it was excited to be an early access partner for Twitter’s Tweet titles.
“With Tweet Tiles, you can flex your favorite NBA Top Shot moments by dropping an NBA Top Shot URL. Share your unforgettable moments,” Dapper tweeted.
Twitter announced in January that it would allow NFT owners to change their profile pictures to a verified NFT picture with a hexagon around it, noting that it represented verified ownership.
Related link: How to buy NFTs
Why it’s important: The timing of the Twitter integration with several NFT marketplaces comes as Musk finalized its acquisition of the social media platform. The acquisition inspired the artwork of popular NFT artist Beeple on Thursday, see below.
TWITTER ACQUIRED � pic.twitter.com/2RF4cHcZ8W
— beeple (@beeple) 28 October 2022
Musk has not been in favor of NFT moves like Twitter has been. Musk criticized the profile picture verification in January, saying Twitter should spend more time focusing on bot and spam issues instead.
“Twitter is spending engineering resources on this bs while crypto scammers throw a spambot block party in every thread?” Musk tweeted at the time.
The Tesla CEO earlier this year trolled followers on Twitter by changing his Twitter profile picture to a collage of NFTs from the popular ones Bored Ape Yacht Club collection.
Musk tweeted “I don’t know… China seems fungible” when he changed his profile picture, a reference to the term non-fungible used in the NFT acronym. An item that is fungible is easily replaceable and can be replaced. NFTs offer unique ownership of an element on the blockchain.
Previous criticisms by Musk of NFTs also include comparing NFTs to possible hallucinations and telling Dogecoin DOGE/USD co-founder Billy Marcus that “NFTs jpeg the dollar.”
Musk also wrote that “Web3 sounds like bs” earlier on Twitter.
Despite the moves that Twitter has made to develop and integrate NFTs into the platform and connect the community, it may be short-lived.
With Musk in control, Twitter could see big changes. While the changes may be good for a cryptocurrency like Dogecoin that Musk supports, NFTs may see less support from a Musk-led Twitter.
Rarible and Dapper Labs are among the key speakers at Benzinga’s Future of Crypto event in New York City on December 7. Get your tickets now here and hear more from these companies about the Twitter integration and what’s next in the Web3 world.
Photo: Shutterstock
