Crypto Faithfuls expect Elon Musk's blockchain plans for Twitter

Crypto Faithfuls expect Elon Musk's blockchain plans for Twitter

After six months of dramatic legal back and forth, Elon Musk is now at the top of Twitter after completing his blockbuster deal over $ 44 billion.

The billionaire now wants to take over the chairmanship of the board Bloomberg . Musk dresses separately CEO positions at Tesla and SpaceX.

Twitter co-founder BIZ Stone paid tribute to her contributions in A Twitter on Friday. Meanwhile, Musk tweeted "The bird is freed", in an obvious reference to the new era of Twitter.

His arrival on Wednesday at the company headquarters in San Francisco triggered speculation about his plans for the popular microblogging platform. Some crypto believers believe that there will be a good chance that he will either integrate cryptocurrencies or decentralized blockchain networks into the website.

Musk discussed the integration of digital payments and preventing crypto-related frauds in June.

"I think it makes sense to integrate payments into Twitter so that it is easy to send money back and forth ... Both currencies and cryptos," he says said.

Despite a hectic week, Twitter introduced a new feature around NFTS on Friday. The website tests a function called tweet Tiles to expand links to certain NFT marketplaces, a

This integration currently works with four NFT-related platforms: Magic Eden, Rarible, Dapper Labs and Jump.trade.

What could come next for Twitter in relation to unique crypto integrations? The Reddit social media app has already started an NFT marketplace where users can buy blockchain-based avatars.

"You can undoubtedly bet that Elon and his team see what happens to Reddit and think about the possibilities with Twitter," Mahesh Vellanki, managing partner of the crypto venture company Superlayer, told Blockworks. "Perhaps you will choose to integrate payments in addition to NFT integrations, perhaps with Bitcoins Lightning Network or Solana Pay."

Vellanki said it was still too early to determine what Musk will do next, but he believes that the crypto supporter recognizes the potential that can do digital-asset technology for payments and NFTs.

"Just look at his interest in Dogecoin. Yes, it is a Mem Coin, but it is in Memen. He understands this power and could therefore very well make something very creative with Twitter and his role in Meme-focused investments. We enter a new world and you can bet that digital assets on Twitter will play an important role," he added.

observer weighs what Elon could do with Twitter

Now that Musk is the “Chief Twit” of the company, he essentially has freedom, the “ everything app ". In this case, financial services would be an important pillar of the website, similar to Chinas Wechat.

According to Bobby Ong, CEO of Coingecko, Twitter could be revised to integrate web3 components and find a fair way to reward its top manufacturers in the app.

The company no longer has to report financial information, since it will now work privately.

BUDD White, Chief Product Officer at Tacen, said that the Twitter takeover of the crypto supporter could be an important moment to merge cryptofocussed technologies with the mass.

"What could be nicer than realizing big things to integrate as a Twitter to integrate digital assets. He was able to make payments via stable coins. He could integrate an NFT marketplace. Damn it, he could even integrate a defi market for loans and loans that is both crypto-nativ and unique for Twitter," said White to block works.

Another new feature could be a user who completes a defi mortgage on Twitter-something that, according to the product expert, is not outside the area.

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The article Crypto Faithfuls Await Elon Musk’s Blockchain Plans for Twitter is not a financial advice.