Elon Musk was “annoyed” when a new Twitter feature made it possible for premium users to advertise their non-fungible token (NFT) purchases as their profile picture.
Elon Musk tweeted about Twitter‘s new ability for users on Twitter Blue, stating “this is annoying.” A photo of Twitter’s announcement was included in the tweet. Musk stated that the Internet giant isn’t utilizing its resources efficiently.
This is annoying pic.twitter.com/KAkDl29CTX
— Elon Musk (@elonmusk) January 21, 2022
Last week, Twitter added a new function for some users that allows them to show their NFT purchases – a blockchain-based token representing transactions – in the form of a hexagonal shaped profile image rather than the traditional circle shape.
“Twitter is spending engineering resources on this bs while crypto scammers are throwing a spambot block party in every thread!?,” Musk said in a tweet last week, further elaborating his point of view.
Elon Musk, who is generally a crypto enthusiast, noted his displeasure with the Web3 environment, stating that resources should be spent on avoiding crypto-related spam on social media instead.
To be clear, Tesla CEO Elon Musk announced that he would accept Bitcoin as payment for Tesla automobiles, but later withdrew his decision due to environmental concerns surrounding the crypto asset. He went on to state in December that Tesla would allow consumers to pay for goods using Dogecoin rather than Bitcoin.
“Elon is right on this. Twitter’s product team needs better prioritization on what’s actually important for user experience,” Adam Singer, who was previously VP of Marketing at Google, said in a tweet backing Musk.
Twitter’s Revenue Product Lead Bruce Falck replied on the chain, stating that Twitter is already working to solve the spam bot problem by saying, “allocation of engineering resources against the most essential concerns is something we take seriously,”.
On social media sites like Twitter, fraudsters have been imitating well-known personalities, such as Tesla CEO Elon Musk, promising bitcoin riches and freebies. Some Twitter users sided with Musk while others chastised him for doing the same thing and requiring Tesla engineers to work on accepting doge coin payments.
What’s an NFT?
An NFT is a non-fungible token. This means that each individual token is unique and cannot be replaced by another. They are most commonly used in digital gaming environments, but have begun to be utilized more frequently in the world of cryptocurrency.
NFTs are important for several reasons. First, they add an extra layer of security to transactions. Because each token is unique, it can be tracked and verified that it has not been duplicated or stolen. Secondly, they provide a way to represent real-world assets digitally. For example, you could create an NFT for a house and then trade it on a blockchain marketplace. Finally, they allow for more creative and interesting games and applications to be built on top of blockchain platforms.
Blockchain platforms like Ethereum have made it easier than ever to create NFTs using smart contracts. These self-executing pieces of code can be created for a variety of purposes from decentralizing the trade and ownership of digital art, to enabling nonphysical forms of currency by overcoming the limitations that physical currencies face when they enter into digital spaces.
What do you think of NFT’s and the use of them in Twitter profile pics? Let us know in the comments below!