Key Points:
- Social media platform Twitter appears to be getting closer to rolling out a new feature called “Coins.”
- By punching the internal token with fiat currency, the feature will enable users to receive rewards for publishing particular tweets.
- This appears to be a reference to the “Twitter Awards” for the platform, which Manchun Wong also disclosed a week earlier.
Twitter appears to be working on a new feature that will play into the platform’s role as the platform’s rumored coin.
With the help of the new function, users can Award specific tweets with Coins.
On January 10, famous female coder Jane Manchun Wong discovered that Twitter was developing a shopping interface and menu for Twitter Coin. In it, users can buy Coins with fiat through Stripe.
This coin will be used in the Rewards program. Users can gift them to others on the platform.
Although the information about Twitter Coin is just a rumor, and it is not certain that this coin will be released on the blockchain, it is highly likely that this social network will add the ability to buy coins through Stripe. The platform supported crypto payments last year. At the same time, the social network was testing USDC payments through Stripe for content creators.
To withdraw Coins from the platform, users need to accumulate a minimum of $50 worth of these coins. In addition, there is information that Awards will soon add emoji buttons such as surprise, cheers, crown, etc. To use this feature, users must pay Coins to give them to the owner of the tweet.
Wong predicted last week that some of the reactions at the Twitter Awards would include Mind Blown, Bravo, Bullseye, Gem, and Crown, to name a few.
Such responses, which cost Coins to provide to a user’s tweet, are comparable to Reddit Gold, a feature where users can pay with fiat to purchase Gold in order to honor threads or posts they deem to be inspirational or useful.
A month ago, the crypto community on the platform was buzzing with the news that Twitter was about to launch its own currency. It is not yet clear whether this is just a regular digital currency or an actual cryptocurrency.
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