The social media giant wants to figure out what crypto can do for Twitter as it plans to invest in decentralized technology. The new team will create strategies to help its app’s creators.
Twitter announced on Wednesday the creation of a new team dedicated to working with crypto and blockchain. The team will focus on boosting the decentralized technology industry and developing solutions for crypto, DApps, and DeFi. While making the announcement, team leader Tess Rinearson explained that while cryptocurrencies such as Bitcoin and NFTs were becoming more relevant to Twitter, the company wants to go far beyond when it comes to decentralized technologies.
In a tweet, Tess stated:
“As I build out the team, we’ll be working to figure out what crypto can do for Twitter, as well as what Twitter can do for crypto. Twitter truly “gets” crypto (hello Bitcoin tipping & NFTs!), but there’s so much more to explore here.”
Twitter Crypto will deal with all matters related to Web 3.0.
The development has come only one month after Twitter announced its intentions to enter the blockchain space via an NFT authentication solution and new Tips feature for accepting Bitcoin payments. After perfecting the NFT proof-of-identity and Bitcoin tipping service, the team will support DApps and other identity-oriented solutions, asset ownership, and community building.
The team that will work under the name “Twitter Crypto” will deal with all matters related to Web 3.0. While there’s no job listing yet, Tess has opened her DMs for anyone interested in participating in the project to apply. Tess explained:
“Blockchain and crypto are unlocking new possibilities that align with many of our big product bets, including creator monetization and new forms of self-expression. It’s time for Twitter to explore that technology in earnest.”
Fantastic opportunities for artists and creatives
Cryptocurrencies and blockchain technology are playing a critical role in the development of Web 3.0. They have, over time, become integral components of a more open, collaborative experience that’s enabling more fantastic opportunities for artists and creatives. NFTs have become the latest craze offering opportunities for digital artists, offering them a new opportunity to monetize their work. Twitter explained:
“There’s massive and growing interest among creators to use decentralized apps to manage virtual goods and currencies – Tess will focus here, with a long-term goal of exploring how ideas from crypto can help us push the boundaries of what’s possible with identity, community, and more.”
Tom is a freelance writer with over 10-years’ experience in content creation, blog writing, and SEO specializing in the blockchain and cryptocurrency niche. As a philosophical figurehead, he believes that to make our world a better place, we must invest in incorruptible products and procedures, of which Bitcoin and other cryptocurrencies are leading examples.