X Discontinues NFT Profile Feature, Sparks Community Speculation on Future Plans
Summary:
X, formerly known as Twitter, has discontinued the feature allowing paid users to display non-fungible tokens (NFTs) as profile images. This move has sparked mixed reactions among community members, with some users citing fears of potentially increased fraudulent activity. Meanwhile, online speculations suggest this could be paving the way for X to introduce its own line of exclusive NFTs.
The decision by X, the social platform previously known as Twitter, to discontinue the feature allowing users to display non-fungible tokens (NFTs) as profile images has stirred significant conversation within its community. This change was implemented on January 10, almost one year after the feature was introduced on January 20, 2022. The feature had made it possible for paid subscribers to use their NFTs as their profile image, marking them with a unique hexagonal shape as a sort of authentication stamp.
Reactions to this change were varied, with numerous users questioning the removal of NFT profile pictures, arguing this might pave the way for increased difficulties in identifying fraudulent accounts. Others saw this as anticipatory move by X to potentially introduce its own branded NFTs sometime in the future.
One user, who is an NFT holder, highlighted the ongoing issues with fake accounts on the platform, and claimed that the removal of NFT profile images would only add fuel to the fire. Another user pointed out that this move would put another dent in the reputation of the industry. According to them, NFT profile images were a valuable check against deception, aiding in validating interactions with other users.
Moreover, one community member went as far as suggesting that the discontinuation signifies "end of an era", while others used humor and memes to express their concerns about fraudulent activity on the platform.
Meanwhile, online speculations on billionaire Elon Musk's future plans regarding the platform are ramping up. Some Reddit users believe this move could be a precursor to the platform launching its own exclusive line of NFTs. This speculation was backed up by comparisons to Reddit's own digital collectibles, which have successfully drawn in a staggering 10 million users into the NFT sphere.
Published At
1/11/2024 12:33:00 PM
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