SNEAK PEEK
- According to reports, Twitter is developing “Twitter Coin” and monetization features.
- Jane Manchun Wong, a blogger, and Twitter user shared a screenshot of what looks to be the Twitter Coin logo.
- Nima Owji also published the following summary of a potential Twitter monetization approach.
In recent hours, there have been rumors on Twitter that Elon Musk would soon introduce his cryptocurrency, the Twitter Coin. Currently, it needs to be clarified what this means for Bitcoin (BTC) or even Dogecoin (DOGE).
Twitter user and blogger Jane Manchun Wong published a screenshot of what appears to be the Twitter Coin logo. However, Wong’s tweet was changed to “private” shortly after it was posted.
Twitter coin??? https://t.co/FKp5NKrG3L
— db (@tier10k) December 5, 2022
However, some users were able to screenshot the tweet. Elon Musk has reportedly already created a Twitter coin logo. Another tweet from Wong indicated that the Elon Musk-led business would soon start accepting cryptocurrency tips and payments. The hidden “Tips” settings contain a “Coins” area, as revealed through a leak of the Twitter API.
The following outline of a potential Twitter monetization strategy was also released by Nima Owji. The screenshot demonstrates how tips are given using the Twitter Coin.
The crypto world is presently speculating on what the purported disclosure would entail for Bitcoin as well as Dogecoin, Musk’s preferred cryptocurrency. A proprietary coin from Twitter would obviate the need to merge both cryptocurrencies, which would initially be detrimental for DOGE and BTC.
The disclosure of the API, though, would suggest that Musk is paying attention to more than one cryptocurrency. Thus, the DOGE and Bitcoin might complement the Twitter Coin. A Twitter connection for cryptocurrency wallets is advantageous for the entire crypto sector.
Elon Musk has announced his aim to integrate digital payments into “The Everything App,” which he refers to as Twitter 2.0.
Musk did not specifically name Dogecoin in his tweet, but DOGE’s value soared nonetheless. The neighborhood reportedly conjectured that DOGE was a component of Musk’s cryptocurrency plans for Twitter. In addition, suspicions about Twitter’s plans for a cryptocurrency wallet started to circulate in October after Wong said in a tweet on October 27 that the firm had already started working on a wallet prototype.
Elon Musk has been striving to reinstate certain Twitter-banned accounts. In the past week, Musk has eased restrictions on a dozen Dogecoin-related Twitter accounts. He continues to support Dogecoin, stating that it will “go to the moon.”
