Twitter (NYSE:TWTR) is set to add Bitcoin (BTC) lightning payments and a non-fungible token (NFT) authenticator feature to its platform.
The social media giant announced that it would be adding the tipping service to its iOS application. The third-party tipping feature will allow users to add Bitcoin addresses and make payments using the cryptocurrency.
tested the Tips feature, turns out people love moneyrolling out on iOS with Android coming soon pic.twitter.com/pkmLHzg6fu— Twitter (@Twitter) September 23, 2021
According to the announcement, Twitter will also be adding a non-fungible token (NFT) verification feature. NFTs have become quite a popular trend in the crypto industry, with investors splashing millions on digital collectibles.
However, the NFT feature is still in the development phase, with no specific date for its release.
Twitter’s “Tips” service will immediately be available on iOS devices. As for Android users, the announcement said that a compatible version would be available soon.
Twitter will not be handling any funds directly. It will employ the services of third-party payment processors such as the Strike App and will not take any commission from payments made on the platform.
A highlight from the announcement of the “Tips” service is the ability to tip in bitcoin. Product team member at the firm, Esther Crawford, stated that the use of BTC as a tipping option would be available to all Twitter users around the world. She added:
There’s this great opportunity for us to choose global, barrier-less options […] and Bitcoin represents one of the best options. We know not everyone around the world transacts with bitcoin yet, but we think it’s one of the better solutions.
CEO of Twitter, Jack Dorsey, who is a well-known advocate for the crypto industry, also mentioned that the company would possibly be looking to implement a payment option for BTC. It appears Dorsey was not kidding after all.
Agreed.Every account on Twitter being able to link to a Lightning wallet however…— jack⚡️ (@jack) August 12, 2021
With this out of the way, one could assume that Dorsey will move over to work on building a decentralized exchange of the Bitcoin network.