The Twitter, The Techno-king and The Bard
It’s Musky..But I like it!
Elon Musk is the CEO of Tesla and SpaceX. He's also the chairman of OpenAI and Neuralink. He’s been named one of Time magazine's 100 most influential people in the world three times. That's why it's so surprising that Elon Musk hasn't joined Twitter—until now. After successfully acquiring Twitter in a deal worth $44 billion dollars early last week, Elon Musk hasn’t wasted any time in implementing ideas to help improve the experience of users, Web3 users would benefit most from recent proposals, “NFT Tweet Tiles,”.
This will allow the users to buy, sell, and display NFTs via tweets, this is a monumental step for everyone advertising their service or products on the Web3. This opportunity will encourage more users into the NFT, and cryptocurrency space and accessibility and notoriety are key for companies and individuals to grow. This is a net positive situation. These NFT Tweet Tiles display the artwork of an NFT inside a panel within a tweet that includes information like the title and creator of the NFT. This will include a link that allows users to go directly through to the listings on that marketplace. Now that’s great advertising! Researching other companies that launched a similar function this year that allows users to share their NFTs across digital wallets associated with their social media accounts. Meta being one of them with Telegram introducing a new ecosystem. Telegram launched a new collectible marketplace, Fragment, for purchasing decentralized usernames. The messaging app kicked off the marketplace by offering rare Telegram usernames as collectibles to be grabbed via auctions. The platform will eventually support both direct sales and auctions. As more companies adopt this strategy a NFT PFP will be a normalcy. Recently, Elon Musk started tweeting about NFTs (non-fungible tokens) on Ethereum—and he seems to be pretty excited about them! We know that NFTs are unique digital assets that you can use to represent something else—like a specific piece of art or even a piece of your identity. Like yours truly! integration is limited to Magic Eden, Rarible, Dapper Labs, and Jump.trade, however, that list may grow in the future, with the direction Twitter is taking with NFTs. Good news, these marketplaces cover a wide spread of blockchain networks including Ethereum, Solana, Flow, Polygon, and Tezos. This is not the first time the platform has experimented with the implementation of NFTs on the site. Back in January, Twitter began allowing the use of NFTs as verified profile pictures, but the scope of this function was limited. The NFT profile pictures are only available with a subscription to Twitter Blue, a monthly subscription service that the company started offering in June 2021 and supports NFTs from the Ethereum blockchain at the moment.
Here’s a reason why it’s beneficial,
When you buy an NFT, you're essentially buying ownership over something that has value. And when someone buys an NFT from you, they're buying those rights from you as well. But unlike with traditional money or property, there aren't any centralized parties managing who owns what or how much each thing is worth: all of those decisions are made by users on the network itself through smart contracts. This makes NFTs great opportunities for artists who want to sell their artwork online without having to deal with third party mediation.
Let’s take a look at how the crypto market performed from October 20th to Today!
Here’s what happened:
Bitcoin (BTC) was up 0.64% over the period, hitting $7,932.71 on November 3rd and averaging $8,009.32 for the week.
Ethereum (ETH) was down -2.75% over the period, hitting $206.85 on November 3rd and averaging $209.15 for the week.
The crypto market has been through some ups and downs lately, but it looks like there's a light at the end of the tunnel, thankfully. The total market cap for all cryptocurrencies peaked at $123 billion on October 20th and has been falling ever since. But we're finally starting to see some green! On November 3rd, the total market cap was just over $105 billion—a 10% increase from its lowest point. So, what caused this recent surge? Well, one of the biggest reasons is that Bitcoin (BTC) has recovered somewhat from its recent crash. It went from $6,200 on October 20th to $3,600 on November 2nd before climbing back up over $5K by November 3rd. In addition, Ethereum (ETH) surged by almost 50% during this time period after stabilizing at around $150 per coin for several weeks.
Things are looking up!
Stay Tuned for more updates,
Happy Hunting!
🧭 Blockchain Explorers 🧭
