Investing.com – There have been allegations that social media giant Twitter is in the process of developing its own cryptocurrency wallet. Claimant software engineer Jane Manchun Wong said the project is currently in development and the team is still working on a prototype.
According to the first information obtained about Twitter’s crypto wallet, which is under development, funds can be deposited and withdrawn without an intermediary with the wallet. Twitter has yet to make an official statement on the matter.
The crypto wallet development, seen as a Web3-focused project, follows the crypto-friendly approach of Jack Dorsey, the former CEO of Twitter. Dorsey introduced the ability to link users’ crypto wallets to their profiles when he was Twitter CEO. Initially, wallets compatible with Bitcoin were allowed, but later this was extended specifically to Ethereum addresses and NFTs.
If this claim becomes official in the future, users will be able to use features such as sending and receiving tips, NFT profile pictures much more easily without the need to connect an external wallet to their Twitter account.
This claim comes in the middle of the process of Twitter being acquired by Elon Musk. As it is known, Elon Musk also has plans to transform Twitter into a more crypto-friendly platform.
Twitter also has a project called Bluesky. Within the scope of this project, the developers aim to create more transparent and decentralized structures where values such as Bitcoin and cryptocurrencies can be adopted beyond the company with the targeted social protocol.
On the other hand, another social media giant Facebook has started a similar formation in the past years. Facebook put a lot of effort into launching its crypto wallet called Novi, but the project failed.
Author: Gunay Caymaz