In a surprising move, X, previously known as Twitter, has quietly removed the ability to use non-fungible tokens (NFTs) as profile pictures, leaving the crypto community in suspense. This unannounced decision, discovered by TechCrunch on January 10, 2024, adds a layer of mystery to the transformational plans X has in store for the year.
Unpacking the Feature:
Back in January 2022, Twitter introduced a feature allowing users with a premium subscription to connect their Ethereum wallets, displaying NFTs as unique profile avatars. The hexagonal design set these NFT avatars apart, reflecting the growing interest in digital collectables. Even with plans to expand to other blockchains, this innovative feature faced criticism from none other than Elon Musk himself, who believed the focus should be on tackling crypto spambots and scammers.
The Elon Musk Twist:
Fast forward to April 2022, Elon Musk acquires Twitter, rebrands it as X, and now, unexpectedly, removes the NFT profile picture feature. The questions arise: Why was this feature axed, and what lies ahead for X?
The Mysterious Removal:
TechCrunch reports the removal on January 10, 2024, without any official announcements. Even the pages explaining the feature have vanished, leaving only archived versions for reference. Oddly enough, X had recently shared ambitious plans for 2024, emphasizing a transformative journey for the company, but no mention of changes to the premium subscription features, including the NFT profile pictures.
X’s Vision for 2024:
#Elon Musk’s vision for X as the “Everything App” includes the launch of “peer-to-peer payments.” While details are scarce, Musk has emphasized the absence of a native token, urging caution against scams. The move suggests a shift toward facilitating exchanges with real money, a direction #X has been working on with regulatory approvals.
Crypto Community Response:
The removal of NFT profile pictures has stirred confusion within the crypto community. Despite not being widely utilized, the feature had potential for platform development, according to Kraken co-founder Jesse Powell. Powell, while acknowledging the limited utility of the feature, speculates on a potential return, albeit in an enhanced form.
NFTs Beyond the Twitter/X Realm:
Despite market fluctuations, NFTs continue to capture interest globally. Countries like the United Arab Emirates, China, Italy, Mongolia, and India are exploring NFT applications to streamline bureaucratic processes, while companies like Lufthansa Airlines and brands like Casio and Adidas are actively embracing NFTs.
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