Market

Twitter “teases” NFT identity verification

Twitter has revealed a tool under development that will allow users to view a verified NFT as their profile picture.

Mada Aflak, Senior Software Engineer at Twitter, shared a video demonstrating the functionality that allows users to add NFT to an account. Users can simply edit their profile, connect a crypto wallet and import an OpenSea collection, then select an avatar from their NFT digital art collection.

The profile picture will also be green to confirm it’s a verified account, so they have the flexibility to use their extremely expensive CryptoPunk or Bored Ape profile picture and let people know it’s legal.

Aflak explains that it is an experimental process only, so things can change and she asks users for suggestions and feedback.

https://twitter.com/af_mada/status/1443243702156206089?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener

“As promised, this is the first test. Feedback and ideas are welcome. “

While the verified profile picture has caused a stir so far, Messari researcher Mason Nystrom is speculating about other potential uses of Twitter in integrating crypto wallets.

This could include checking how long a user has owned an asset, recommending followers to other NFT owners to buy and sell directly from Twitter profiles, and social charting of NFT owners.

This is the latest crypto-friendly move from Twitter, which last week integrated Lightning payments with Twitter profiles so that users can send and receive Bitcoin tips or other payments.

Jack Dorsey, the CEO of Twitter, has long been a supporter of Bitcoin and promotes it through the platform. He also sold his first tweet as an NFT.

NFT has long been a social currency as followers of Ethereum and other smart contract blockchains recently started posting their digital assets as profile pictures. But the essence of NFTs, many of which are JPEGs, is that anyone can copy and paste someone else’s NFT into their profile picture. Just as there were multiple fake Vitalik Buterin accounts, it is now possible to have multiple accounts with the same Bored Ape.

Twitter’s NFT feature will solve that, but not everyone thinks so. Bitcoin maximalist from blockchain technology company Blockstream wrote:

“Twitter’s NFT validation seems easy to fail and will only grow into a bunch of disputes that will eventually be resolved through a meme posted by someone on the corner of Twitter.”

While it is difficult to draw conclusions from just one simulation video, it is still unclear how committed Dorsey’s tech company is in developing the tools for Ethereum users that the majority of NFTs are from. Notoriously averse to Ethereum, Dorsey announced in June that it would not invest in it.

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Mr. Teacher

According to Cointelegraph

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.