Twitter Introduces Bitcoin Tipping Feature, Puts NFT Authentication Plans In Place
On Thursday, September 23, microblogging website Twitter announced that bitcoin could also be used to tip their beloved content creators. Starting this week, Apple iOS users can use this feature globally, and in the following week, the feature will be rolled out for Android users as well in a strategy of "turning fans into funds."
The company tweeted: "Tested the Tips feature, turns out people love money. Rolling out on iOS with Android coming soon."
Earlier, users could tip with fiat currency using more popular payment services such as Square's Cash application and PayPal's Venmo. In May this year the company rolled out its beta version experimenting with bitcoin tipping. To make it work, Twitter will integrate the Strike bitcoin lighting wallet service into its platform.
As a crypto enthusiast, CEO Jack Dorsey Twitter will integrate the Strike bitcoin lighting wallet service without taking a cut of any money sent through its new feature. It will also enable users to add their bitcoin address to send and receive these tips. Lightning wallets are recommended among users in the crypto ecosystem due to their lower transaction fees, and as it allows people to send and receive Bitcoin free and instantly. Strike currently operates in all US states except New York and Hawaii and the country of El Salvador.
Esther Crawford, Twitter's product manager, said, "In addition to the services currently enabled through Tips, people can now seamlessly tip with bitcoin using Strike — a payments application built on the Bitcoin Lightning Network that allows people to send and receive bitcoin. Strike offers instant and free payments globally."
Moreover, it is "soon" exploring a unique feature that would permit others to validate and showcase their NFT digital assets. These artworks can be sold across NFT marketplaces like OpenSea, Raible, Foundation, SuperRare, etc. However, this particular project is still in the early stages. Twitter hasn't yet disclosed any specifics about this blockchain project. It is mainly to promote and encourage creators who come out with digital art symbols. However, It hasn't yet figured out how this would work.
On Thursday, Crawford, during a briefing, said, "We want everyone to have access to pathways to get paid digital currency that encourage more people to participate in the economy and help people send each other money across borders and with as little friction as possible help us get there."