Twitter Adds Bitcoin Tipping, Pushes Further Into NFTs

Twitter has announced that starting immediately it will now allow users around the globe to tip their favorite creators on the social network using bitcoin, making it the first major social network to encourage use of the cryptocurrency as a method of payment. It also reiterated that it will launch a fund to pay some users who host audio chat rooms on its Spaces feature.

Twitter introduced tipping as a test feature back in May as a way to experiment with helping creators earn payments from their followers for the content they post on Twitter.

The company announced that its Tips feature will now roll out globally to all Apple iOS users this week and will become available for Android users in the coming weeks. Previously, users could tip with fiat currency using more traditional payment services such as Square’s Cash app and PayPal’s Venmo.

Twitter will integrate the Strike bitcoin lighting wallet service so creators can receive bitcoin tips and will also allow users to add their bitcoin address to send and receive these cryptocurrency tips.

Twitter does not take a cut of any money sent through its Tips feature. The integration of bitcoin to Twitter’s tip feature is hardly surprising considering CEO Jack Dorsey is one of the most vocal supporters of the cryptocurrency.

In just the past few months, Dorsey has tweeted that he is trying his hand at bitcoin mining. He said he doesn’t think there is anything more important to work on than bitcoin and he has even said that his hope is bitcoin will bring about world peace.

Additionally, Twitter on Thursday said it is also experimenting with a feature that would allow users to authenticate and showcase their collections of NFT digital assets on the social network, though it did not provide much detail or any specifics about this blockchain project, but said it’s another way to support creators who make digital art.

Besides blockchain, Twitter also announced its plans to launch a creator fund for users who host Spaces audio rooms as a way to incentivize more live audio events. Last year, the company debuted Spaces, which is a feature where users can hear and chat with others in audio-only virtual rooms. The company hopes the upcoming fund will incentivize more users to host live audio events on Twitter.