Rumours surface of Twitter donations being integrated into digital tokens
Twitter began testing an option called Coins, which lets users reward content creators with digital tokens in the form of various reactions. Recipients will be able to exchange the assets for fiat via Stripe’s payment system, blogger Jane Wong said.
Twitter is working on Coins purchasing screen
On the web, Twitter Coins purchase will be done through Stripe https://t.co/RFpWswnZfG pic.twitter.com/eAzPWjfoye
— Jane Manchun Wong (@wongmjane) January 10, 2023
Coins will be purchasable by invoking the corresponding window in the interface. The minimum payout to Twitter creators will be $50.
The community did not rule out that the initiative could mark the start of Twitter’s foray into cryptocurrency. At present, there are no indications that the tokens will be issued on a blockchain.
Twitter Coin is still under development and we don’t even have any evidence that it’s something related to crypto.
Don’t let the scammers fool you!
— Nima Owji (@nima_owji) January 11, 2023
In July 2022, Stripe announced a pilot with Twitter aimed at enabling crypto payouts to content creators.
Hey Tim—great question! Currently, crypto payouts are being tested with Twitter, which you can find more details on here: https://t.co/xJnpLmb0lN.
— Stripe (@stripe) July 8, 2022
In April 2022, Twitter added the ability to pay out rewards in USDC on the Polygon blockchain via Stripe Connect — a system for integrating payments into online marketplaces.
In October, Twitter‘s ownership became Elon Musk. Subsequently, the Tesla founder oversaw a major overhaul of the platform’s features, which could have touched the aforementioned initiative.
New York Times journalists, citing informed sources, reported that Twitter is studying the possibility of selling usernames to create an additional source of income. Potential buyers could purchase accounts at online auctions.
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Sources noted that the project’s fate remains unclear — whether it will ultimately be implemented, whether it will affect all user names or only those that meet certain criteria.
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In December, Musk said he wanted to delete inactive accounts on Twitter and free up 1.5 billion usernames.
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Back in November, Musk shared slides from the Twitter 2.0 update. The community spawned unverified speculation about the forthcoming integration of Dogecoin as a payment method. The billionaire made a corresponding proposal as early as April 2022.
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In December, on the social platform appeared price-chart widgets for Bitcoin and Ethereum.
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