APEEthereumNews

Why X (Twitter) Removed Support For NFTs?

1 Mins read

X (Twitter) has officially discontinued supporting non-fungible tokens (NFTs) as profile pictures for its paid subscribers. 

This decision signifies a notable shift in the platform’s direction. It also has ambitious plans for 2024, including peer-to-peer payments and enhanced AI-powered tools.

X (Twitter) No Longer Supports NFTs

The feature allowed Twitter Blue subscribers to showcase their NFTs minted on Ethereum (ERC-721 or ERC-1155 tokens) as hexagonal profile pictures. Upon clicking or tapping them, these distinct avatars enabled users to delve into the following details:

  • NFT collection
  • Contract address
  • TokenID
  • Minting app

However, as per recent updates, X has expunged all mentions of this feature from its premium support page, sparking curiosity and speculation among the crypto community. The previous description, archived in Internet sources, detailed the process of connecting a crypto wallet to set up an NFT as a profile picture.

The previous Twitter management released the feature in January 2022. At that time, Elon Musk said it was unnecessary.

“Twitter is spending engineering resources on this bs while crypto scammers are throwing a spambot block party in every thread!?,” Musk said.

Interestingly, users who had previously set a non-fungible token (NFT) as their profile picture still retain their hexagonal avatars. This left the community in limbo about the future of NFTs on X.

This move aligns with a broader trend observed across social networks, where enthusiasm for NFT integrations seems to wane. In a notable parallel, Meta, the parent company of Instagram and Facebook, ceased NFT support in early 2023, following its own exploratory phase with the digital assets.

NFT Daily Volume.
NFT Daily Volume. Source: Dune

Despite the devaluation of prominent tokens like the Bored Ape Yacht Club (BAYC), the NFT market has shown resilience, with daily trading volumes surpassing $25 million.


Source

1409 posts

About author
Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
Articles
Related posts
CryptoNews

Indonesia's presidential elections pose uncertainty for the thriving cryptocurrency industry

1 Mins read
Indonesia, has emerged as a formidable player in the global cryptocurrency space in recent years. However, the nation’s upcoming general elections in…
BNBCryptoNews

Understanding the Cryptocurrency Boom - Dogecoin Climbs Due to X Payment Integration, While Stellar and BNB Also Experience Growth

1 Mins read
The cryptocurrency market has been experiencing notable gains over the past few days. This is led by an unexpected and surprising spike…
CryptoNews

Crypto Entrepreneur Charged with Defrauding Investors Out Of $150 Million Through Marketing Scheme

1 Mins read
Federal prosecutors have charged a German businessman with securities fraud, wire fraud and money laundering for allegedly scamming over 150 investors out…

🚀 Ailtra Crypto Bot Earned $8.9M Million in 7 Months with 0% Loss!

🚀 Ailtra generated $7.4 in 7 months only!

Unlock 20-75% Monthly Returns & Get $100 FREE!

Meet Ailtra Bot! Launching on 31st March an AI Crypto Bot boasting 20%-75% monthly gains and $7.5M earnings in 7 months. 💸Secure a FREE $100 bonus and up to $20K potential via referrals every month. 🎉Only 1,000 spots are available in first phase – claim yours fast! 🔥

Ailtra.ai will not disclose your account information to any 3rd parties.