• Twitter is reportedly working on a feature that will allow users to purchase crypto coins.
• The feature will be powered by payment giant Stripe and will be used to support content creators.
• This is part of Twitter’s initiative to diversify its revenue following a huge slump in advertising revenues.
Twitter Inc., the social media platform owned by Elon Musk, is preparing to launch a new feature that will allow users to purchase crypto coins. The feature, which is being developed in collaboration with payment giant Stripe, is expected to provide users with an easy way to support content creators of their choice at a small fee. This comes as part of Twitter’s initiative to diversify its revenue streams following a slump in advertising revenues.
This new feature will be available in the form of a „Coins“ menu item, which will take users to a purchase screen. The feature is currently in its development phase, and Twitter is working on ways to improve its compatibility with other cryptocurrencies. For instance, the company is reportedly exploring ways to integrate Dogecoin into its platform, which could potentially increase its usage and drive its price to $0.10.
This move by Twitter is part of its larger mission to become the „everything app“ that Musk envisioned before the company’s acquisition. The company has already released a crypto feature that enables users to search for up-to-date price information and has also launched a paid subscription service, Twitter Blue, which has so far not been well received.
Twitter is also exploring ways to incorporate blockchain technology and the crypto market into its platform. This could potentially open the platform up to a range of new possibilities, such as the ability to send and receive cryptocurrency payments, or use crypto tokens to access exclusive content.
Ultimately, this new feature could be a game-changer for Twitter, allowing it to generate additional revenue and attract more users to its platform. In addition, the integration of blockchain technology into the platform could provide a much-needed boost to the crypto market and strengthen its presence in the mainstream.