A month earlier, Twitter announced it was working on profile verifications through non-fungible tokens (NFTs). On this day, Twitter launches the official verification system for NFT avatars. This new implementation enables users to utilize their own personal collection of NFTs as their profile pictures. The new avatar of the verified NFT will have obvious differences compared with the traditional avatar. For example, a hexagonal border will present these new NFT PFPs, which signifies ownership of blockchain resources.
In addition, users can gain more information about the artwork, such as who are the creators and which platform is its host. All this information is accessible through clicking on an NFT avatar. The process of how NFTs will be verified is quite simple. The first step of verifying NFTs is by right-clicking. The next thing after this step is associating a Twitter user’s digital wallet with that user’s Twitter account.
Moreover, everyone can use this feature through Twitter Blue. Its members in the US, Canada, Australia, and New Zeeland can purchase it for only $2.99 per month on the iOS app. In light of the NFT boom, the expansion of its market exceeded $25 billion last year. This information is according to statistics from DappRadar. In 2021, Twitter created non-fungible tokens (NFT) options for its app. Way before this update, people were using NFTs as profile pictures. This was the main incentive behind the decision. An example of this is the famous ‘Boring Ape‘ mascot.
The NFT Boom In Different Industries
Besides Twitter establishing NFT features for its app, a Singapore-based exchange is joining the NFT space too. This platform, called Bybit, intends to simplify digital ownership and encourage the growth of blockchain games and the metaverse.
According to its news statement, Bybit’s NFT ecosystem provides multi-chain transactions for its clients. This goal makes it simple for everyone to engage in the fascinating NFT, GameFi, and metaverse markets. Bybit users are not forced to connect their wallet addresses to the platform. At this point, the Ethereum ERC-721 standard comes in handy. It enables customers to purchase, sell, or trade NFTs via their spot accounts.
Furthermore, the CEO of Bybit, Ben Zhou, was very excited about the new NFT platform they are offering to their users. He added that users may be part of constructing new marketplaces and new worlds, known as the metaverse, through this new service. Additionally, Bybit announces its partnerships such as Monsters Galaxy, ONBD, and REALY. This collaboration will allow Bybit to curate and issue unique NFTs of high value from musicians, well-known celebrities, and sports stars.
Similarly, the world’s giant luxury car company, Lamborghini, has joined the NFT marketplace too. On Thursday, the Italian company unveiled its own NFT collection to solidify its position in the rapidly growing world of digital art. In September of 2021, Twitter was testing a new feature about tipping users with Bitcoin. This was tested through the Lightning Network app Strike. Regarding this new improvement, Twitter is setting up a way for content creators to get paid in Bitcoin.