Twitter to allow NFT trading directly through tweets
Twitter Dev account only announced it is testing a new NFT-related feature on the platform. The add-on will improve user experience by purchasing non-fungible tokens on certain marketplaces via Tweets.
Twitter to allow users to trade NFTs via tweets
Twitter Dev, the account of the company’s development team on the platform, announced Thursday that it is adding more NFT functionality. Links to certain NFT marketplaces will now display a larger image of the token, giving the title and creator.
Supported marketplaces are based on a variety of blockchain networks – Ethereum, Solana, Flow, Polygon, Tezos and Immutable. According to the announcement, the new features are available for NFTs coming from Jump.trade, Dapper, Rarible and Magic Eden. Rarible provided an example of the new tile system in a tweet accompanying the announcement.
Magic Eden specifically thanked Elon Musk “for making this happen.” The tech billionaire finally closed his Twitter deal today, after announcing he would go ahead with the $44 billion acquisition in early October.
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NFTs and Social Media Platforms in 2022
Twitter has seen a good deal of NFT functionality on its platform coming in 2022. In January, Twitter launched a new feature for its premium users. People using Twitter Blue were given the option to show off their non-fungible tokens in the form of profile pictures.
Support for NFTs also came to the platform from third parties. While most NFT bots on the platform are annoying at best, a company called CoinShares has created one that can actually be useful. This particular bot called NFTAI aims to provide assessments of the true market value of any token posted on OpenSea.
Twitter isn’t the only social media giant actively pursuing more NFT functionality throughout the year. Meta has been slowly adding various features to both Instagram and Facebook. The latest update to the project started in May was rolled out at the end of September. This update gave users the ability to share NFTs cross-platform between Facebook and Instagram.
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Do you think Twitter will continue its expansion into NFTs under Musk’s leadership? Let us know in the comments below.
About the author
Tim Fries is the co-founder of The Tokenist. He has a B. Sc. in mechanical engineering from the University of Michigan, and an MBA from the University of Chicago Booth School of Business. Tim served as a Senior Associate in the investment team at RW Baird’s US Private Equity division and is also a co-founder of Protective Technologies Capital, an investment firm specializing in sensing, protection and control solutions.
