Following Elon Musk’s $44 billion Twitter acquisition, the social media platform starts stepping into the crypto space with several updates, including NFTs.
First, the entrepreneur fired four Twitter executives, including CEO Parag Agrawal, CFO Ned Segal, general counsel Sean Edgett, and head legal and policy executive Vijaya Gadde. Musk will be obligated to pay out approximately $200,000,000 to the ex-executives – this sum includes Twitter stock and a year’s salary and benefits. The new “Chief Twit” reportedly plans to take the CEO position himself.
Following, the Twitter developers’ team has introduced a new NFT-related update dubbed Tweet Tiles.
“You can bet that digital assets will play a more prominent role on Twitter,”
told Elon Musk to Blockworks.
With the new feature, linked NFTs will show up in larger pictures alongside details about the artworks, including title and creator. Tweet Tiles currently supports NFTs linked from Rarible, Magic Eden, Dapper Labs, and Jump.Trade NFT Marketplaces.
Several of Elon’s 110.6 million followers are suggesting he add more NFT marketplaces, such as OpenSea, Looks Rare, Jpg.store, VIV3, Reservoir, and Art Blocks.
Twitter is not the only social media platform vastly used by the crypto community. Reddit, which specializes in discussions and content rating, also stepped into the crypto space with major important updates. In July this year, the platform rolled out a new blockchain-based NFT marketplace that lets users purchase PFPs for a set price from $9,99 to $99,99. As of October 20, Reddit saw the creation of 2.5 million wallets, surpassing the largest NFT marketplace OpenSea in terms of active users.
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