Twitter starts the Bitcoin tipping jar, has plans for NFTs and much more
The social media giant announced a lot of new features and plans for the near future
This Thursday (Sept. 23), social media giant company Twitter announced through a call with reporters some improvements and new features for its platform. One of them is the awaited Bitcoin tip jar that allows users to get tips from one another in a very easy way through a button in the user’s profile.
According to the Indian news media Live Mint, the “Tip Jar will be available to all Twitter users using iOS devices from 10.30pm IST today (Sept. 23).” The version for Android is set to come soon after this release, with no date announced yet.
To use this new feature, the user will have to provide their wallets addresses that, for now, are limited to some companies like Venmo, Cash App, or Bandcamp, GoFundMe and PicPay, a Brazilian mobile payments platform.
However, since Twitter is using the Lightning Network for quicker and lower fee transactions, twitter users in the United States and El Salvador will also have the option of sending and receiving Bitcoin tips via Strike, a p2p payments app built on the Bitcoin Lightning Network.
How is it going to work?
The feature called “Tips” already exists in the platform. However, now it will accept Bitcoin as payments as well.
Twitter announced it officially and explained it through their blog:
“Whether you want to tip your favorite account because you adore their commentary, send some love to an emerging comedy creator for their hilarious Tweets, help a small business owner through a difficult time, give to an important cause — whatever you want to support (and we know you already have some ideas), Tips is here to help you do it.”
-Esther Crawford, Twitter Staff Product Manager
According to the post, you’ll know an account has turned on Tips if you see a Tip icon next to the Follow button on the profile page. Tap the icon, and you’ll see a list of payment services or platforms that the account has enabled, and you can select whichever you prefer.
“Once you tap the service you want to use, you’ll be taken off Twitter to the selected app to send funds. Twitter takes no cut.”
- Esther Crawford, Twitter Staff Product Manager
When it comes to NFTs, Twitter also has news. The aim is to make the app a better place for creators that work with the non-fungible tokens.
Even though the company avoided to comment more on the subject, Twitter said it’s planning to explore support for NFT authentication “soon”. This improvement would allow NFT creators to connect their crypto wallets to Twitter, so they can track and showcase their NFTs on the platform.
The company said that this plan is still in the early stages and even though they are testing different ideas to make creators stand out visually with some kind of profile badge of a different avatar, they couldn’t provide more information of how exactly this would work yet.
Twitter Spaces and “Heads Up”
Two interesting improvements and additions are about the Twitter Spaces.
First, Twitter Spaces are getting bigger. The first improvement will allow users to record and replace Spaces conversations after they have happened.
Also, the company is working to improve the discovery of the conversations and enhance the Ticketed Spaces, the monetization tool for the conversations to have more options for setting prices and audience sizes.
Another test that is happening right now is about the “Communities" that reports compared to Facebook’s Groups, which allows users to connect with people with similar interests.
Twitter’s big steps towards new technology features such as payments in crypto means a lot when it comes to companies’ adoption and trust in the cryptocurrency ecosystem.
Also, it shows that great businesses believe in the power of decentralized systems and in digital assets as a new way of consumption.
The market is changing and they already know that. The thing is who is going to be bold to make the moves first?
Apparently, Jack Dorsey (Twitter’s CEO) is no stranger to boldness.