The cryptocurrency world has been hearing rumors that Twitter will introduce its own cryptocurrency for some time. Speculations started to spread in December 2022 as a result of an inquiry by data analyst Jane Wong.
Several users, on February 22, noted that Elon Musk‘s social media platform was selling a bundle of 150 Twitter Coins for $1.99. It appears that just a select few users now have access to make purchases of the assets. The sole payment option at the time is through Stripe, a program well-known for its infrastructure for Bitcoin Lightning Network payments.
Twitter and Stripe are going for a Big Cooperation
Twiter and Stripe have a mutually advantageous connection since Tweeter stated ten months ago that it would permit content providers to receive payment in the stablecoin USDC via Stripe.
Owji shared a snapshot of Twiter’s description of its native token. Coins are “virtual products,” asserts Owji. Once you acquire coins, he exclaims, they eventually turn into diamonds that can be exchanged for items.
With Twiter Coins, users will be able to reward tweets with the social network’s in-house money once it is launched. Coins, according to a Twitter announcement, would let content producers generate passive revenue by being rewarded by their audience and supporters.
How will Twitter Coins Fare?
Similar tipping systems exist on Twitter as well, where users may directly send Bitcoin, Ethereum, and other cryptocurrencies. Yet, unlike the tweets themselves, these gifts are only accessible through the user’s profile page.Tweeter was purchased by Elon Musk with the intention of protecting free expression. The social network appeared to be moving toward accepting cryptocurrency while being run by the entrepreneur. Will Twitter Coins will take its place beside other crypto assets is yet to be seen.
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