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Cryptogambling / X discontinues NFT feature for premium subscribers

X discontinues NFT feature for premium subscribers

Publish Date: 12/01/2024
Stock Photo, tags: (formerly twitter) nft premium - images.unsplash.com

Stock Photo – images.unsplash.com

X (formerly Twitter) has stopped supporting non-fungible tokens (NFTs) as profile pictures for its premium subscribers.

The social media giant has also eliminated the NFT support description from its premium subscription page.

“As a Premium subscriber, you can create and customize your profile so you can show off the NFTs you own in a hex-shaped profile picture on your account,” as said on the now-deleted support page.

The NFT feature was introduced by Twitter’s previous management in January 2022. During that period, Twitter Blue subscribers could use NFTs minted on Ethereum (ERC-721 or ERC-1155 tokens) as profile pictures, displayed as hexagons. Clicking or tapping on the profile picture provides information about the NFT, including details like the NFT collection, contract address, TokenID and the app used for minting.

When it was first released, X current CEO Elon Musk, who had not acquired the company at that time, said the NFT feature was unnecessary.

“Twitter is spending engineering resources on this bs while crypto scammers are throwing a spambot block party in every thread!?” he said.

Instagram and Facebook tried displaying NFT profile pictures in 2022. However, Meta stopped supporting the feature on March 15, 2023.

While no specific reason was given, Stephane Kasriel, head of commerce and financial technologies at Meta, revealed they had ended NFT support “to focus on other ways to support creators, people, and businesses.”

Many responded to the removal of X’s NFT profile pictures. Some argued that it would be more challenging to identify fake accounts, while others speculated that it might be a step toward selling exclusive X NFTs in the future.

Kraken’s founder, Jesse Powell, described the removal as a setback, saying, “Discontinued support for NFT profile pics on @X is a step back for the industry. Reduced utility is always a loss,” Powell wrote.

Taproot Wizards co-founder Udi Wertheimer shared his reaction, saying, “X (Twitter) removes support for legacy Ethereum off-chain pointers.”

With this feature removal, X users cannot use NFTs as profile pictures anymore. Those who had an NFT as their profile picture still have hexagonal avatars. It remains unclear if X will eventually remove those too.

X to launch P2P payments

On Tuesday, X announced plans to launch peer-to-peer payments later this year in a blog post. This is part of X’s transformation into an “everything app,” featuring payments, creator tools, shopping and more.

“X is not just another app – it’s becoming the everything app, seamlessly uniting experiences into one interface, for everyone,” it said.

The blog post did not specify how the P2P payments would function or when they would officially launch. It said the feature would unlock additional user utility and create new opportunities for commerce.

According to the Nationwide Multistate Licensing System website, X Payments LLC, the payment subsidiary of X, has obtained money transmission licenses in only 14 states. The introduction of peer-to-peer commerce would be the latest major change at X since Musk acquired the company for $44 billion in late 2022.

Besides the P2P payments, the company shared its 2024 projection to enhance users’ experience through AI.

“We will increasingly power the X user and advertising experience through Artificial Intelligence — from enhancing search and improving ads to fueling a new level of customer understanding, and more,” X said.

X highlighted its commitment to enhancing the “See Similar Posts” feature, powered by xAI, to show users more relevant content. Additionally, it introduced the upcoming “See Dissimilar Posts” feature, enabling users to explore content aligned with their interests, thereby improving the quality and balance of the information they receive.

“X is set to revolutionize 2024 with groundbreaking products and services that will reshape how we connect, communicate, and transact,” said X

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