Twitter is a social media platform with the primary goal of connecting people and expressing their ideas with a large audience. According to recent social media industry statistics, it is now one of the most popular social networks globally, based on active users. It has 192 million monetizable daily active users in the fourth quarter of 2020.
Twitter has launched an additional feature called ‘Tip Jar,’ allowing users to contribute money to other Twitter users. The tip jar feature adds a little symbol to a user’s profile - currently only on mobile devices - with a drop-down choice for different payment providers like PayPal, Venmo, or the Cash App, which are popular in the United States.
According to the latest report, “Users on Twitter may soon be able to add Bitcoin and Ethereum addresses to their profiles to get tips.” In the future, it might lead to altcoins like ADA, SOL, SafeMoon, XcelToken plus, XcelDefi, and others get adopted by Twitter for tipping on Twitter Tip Jar.
In discussion with analysts and investors in July, CEO Jack Dorsey recommended the adoption, calling Bitcoin a “huge component” of the company’s future.
Twitter has also engaged crypto developers to lead the project ‘Bluesky’ to create a decentralized social network protocol, where Twitter will operate in the future.
According to news published on Livemint- “Twitter boss Jack Dorsey revealed a plan to make a bitcoin-centric decentralized exchange via TBD,” where he announced a new strategy for his bitcoin startup TBD. It will soon develop a decentralized exchange platform for bitcoin exchange.
Additionally, Twitter is also attempting to capitalize on the growing popularity of NFTs. Because of NFTs, digital artworks have taken hold of their own, earning billions in sales as users seek unique pieces to use as status symbols across social media.
Recently, Twitter is developing a new tab called ‘collectibles’ for NFT display, where users may show off their NFT collections to their profile visitors.
Twitter appears to have embraced decentralization with the adaptation of blockchain technology and cryptocurrency. It may be splendid news for crypto investors and the crypto industry as a whole. Twitter's adoption will lead to the widespread adoption of cryptocurrencies and blockchain technologies.
We believe, as more leading firms are adopting crypto and blockchain technology, the demand for cryptocurrency will get higher. It will attract new investors to the market, and the numbers of crypto holders will rise, resulting in a bullish trend. Overall, there will be a positive impact on the market.
XcelToken plus is a decentralized token with various use cases like booking flights and hotels across the world. You can buy gift cards for multiple platforms and top up your mobile carrier across 900 operators in around 160 countries. Purchase your XcelToken plus from the XcelToken Plus exchange and become a part of the thriving crypto community!