Social Networking Giant Twitter Claims to Produce Crypto Wallet Prototype

Popular social networking app Twitter is working on an in-house wallet prototype to support cryptocurrency deposits and withdrawals.

Engineer Jane Manchun Wong announced the news to the public on Twitter. In the statement made by Wong, "Twitter is working on a wallet prototype that supports crypto currency deposits and withdrawals". However, no official statement has yet been made from Twitter regarding the crypto wallet project. Twitter introduced a new feature by adding a payment services link to users' Twitter profiles. The new feature allowed users to link a third-party wallet or crypto wallets to users' accounts. This also allowed users to support the people they follow with these wallets. If users wanted to take advantage of this feature, they had to create their own wallets and addresses. While cryptocurrency leader Bitcoin is compatible with this functionality, Twitter has expanded it to include NFTs and Ethereum addresses. Earlier this year, the platform rolled out an NFT profile picture feature as part of a paid subscription service called 'Twitter Blue'. However, the feature has had limited success. According to reports, the plan is to include a crypto wallet offered by Twitter on the platform, eliminating the need for any third-party service. This will bring the social media site closer to the "everything app" concept that Elon Musk wants. The latest announcement came with the launch of Twitter's decentralized social media platform BlueSky, which launched its beta application last Tuesday. Jay Graber, CEO of BlueSky, emphasized that the platform will not have crypto features. However, he stated that the wallet feature would potentially turn Twitter into a Web3 platform. Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!