Max E.Thu, Feb 17, 2022 7:31 PM
Crypto-friendly Platform Twitter Allows Tips in Ethereum
Twitter has added a new option of sending donations ("tips") in the second-largest cryptocurrency by capitalization. Donations to Ethereum addresses are now available to a wide range of users. The function does not support ENS domains – only full Ethereum addresses.
Commenting on this innovation, a representative of the social network service noted that cryptocurrencies function without global barriers, and so does Twitter. He emphasized that the new payment option in ETH will open up additional opportunities for users to participate in the digital economy.
In September 2021, Twitter content creators started receiving donations in Bitcoin. The social platform implemented this feature through the Lightning Network in cooperation with the Strike service. Other payment partners of Twitter include Cash App, GoFundMe, Patreon, Wealthsimple, Venmo, as well as fintech providers Paga, Paytm and Barter by Flutterwave, added alongside Ethereum.
Starting January 2022, Twitter users can connect their cryptocurrency wallets to the social media network and turn their NFTs into profile pictures. In addition, Twitter plans to allow access to paid audio chats, resembling Clubhouse, for users paying in cryptocurrencies.
In January of this year, former Twitter CEO and head of crypto company Block Jack Dorsey revealed plans to create a Bitcoin Legal Defense Fund, which will provide legal support for the developers of the first cryptocurrency.
Twitter is not the only major social network betting on cryptocurrencies and non-fungible tokens. Not long ago, the popular Internet forum Reddit followed in Twitter’s footsteps and began testing NFT avatars on its platform. Last year Reddit released a collection of its own NFTs based on Ethereum – CryptoSnoos.