This is part of Twitter’s push to let users or creators make more money from the service.
Twitter creators and users can now ask for tips in Bitcoin using the app. Users can also connect their crypto wallets. Then, they can verify that they own the NFT tweet with a special badge.
Tipping on Twitter
In May, Twitter started rolling out its Tip Jar feature on both iOS and Android apps. With this feature, users can send or receive money directly from other users.
It’s easy to use it. Just tap on the dollar bill icon installed next to the user’s username when you view his/her profile on the mobile app.
You can also toggle the tip jar feature if you don’t want other people to send you money out of the blue. If you’re using Twitter on Android, you can send money in Spaces, which is Twitter’s version of Clubhouse.
Tip Jar supports different payment options, like PayPal, Venmo, Patreon, etc. It uses external payment processors. Thus, it doesn’t take a percentage of the tip.
However, only a certain group can accept a tip for now. Creators, experts, journalists, and nonprofits are the ones that can accept money through this feature.
Bitcoin tips utilize Strike. It’s a Bitcoin wallet app that uses the Lightning Network protocol to make it faster and cheaper to transact using Bitcoin. Lightning has received funding from Jack Dorsey, who is a strong advocate of Bitcoin.
In June, he tweeted that it’s only just a matter of time before his social network would support payments through the said protocol.
The above-mentioned Bitcoin wallet app works in all US states but not in New York, Hawaii, and El Salvador. Twitter users can also add their Bitcoin addresses straight to their profiles.
People who wish to tip the creators can just copy and paste the Bitcoin address into their crypto wallet to send money.
The creators who received a tip will be notified by the app. They can reply quickly to the tipper.
Creators can get invoices to monitor how many tips they receive.
In addition to Bitcoin, Twitter is also planning to support NFTs authentication. This is through attaching your cryptocurrency wallets. The authentication will use a badge with profile pictures to indicate that the NFT is authentic.
NFTs are a key part of the decentralized version of the Internet. They exploded in popularity this year. Daily sales of NFT peaked in August. Several NFTs were sold for millions of dollars.
Twitter didn’t provide further details about the blockchain project. However, it said that this is another way to allow creators to make digital art.
The company also announced its plans to introduce a creator fund for Twitter users who host Spaces audio rooms to incentivize live audio events.
Spaces debuted last year. It is a new feature that users can use to hear and chat with other users in audio-only virtual rooms. The upcoming fund will allow more users to host live audio events on the platform.