Is Elon Musk's acquisition of Twitter just what crypto needed for mass adoption? While the Tesla CEO is ambitious, previous efforts by Web2 to embrace Web3 has left some users hesitant.
content creators in cryptocurrency. However, the majority of social media platforms lack inherent crypto integration.
“Many in the crypto space are bracing themselves for how Elon Musk will impact the industry, and the response has been surprisingly optimistic. It’s clear Musk will drive the digital asset integration with the platform along. For instance, many platforms will offer their own crypto wallets in order to keep transactions close to their ecosystem. Twitter doing this is a logical step for a social network that already enables users to send tips in crypto.
“You can connect noncustodial wallets like MetaMask to your Instagram or Twitter and display your NFT as a profile picture. Google launched a fully managed Ethereum node service much like Infura and Alchemy. Then Coinbase and Revolut look more similar today than different in terms of crypto features and functionality. So, Musk’s Twitter will have a great impact on crypto, probably by launching something similar to Aave’s Lens Protocol, decentralizing Twitter to make it more censorship-resistant.
“I think what people often misunderstand is that Web3 is not an exclusive new internet. Inside Web3 we also find Web2, the same way we found the former World Wide Web within Web2. In the case of social media integrating crypto, we are talking about a merge of Web2 and Web3. At the end of the day, a social media platform is just a distribution channel; Web3 doesn’t make them irrelevant. They will be ever more important in a more connected future,” he said.
“While any major mainstream technology platform’s integration of cryptocurrency may be seen as a positive step for adoption, the deep-rooted capitalistic tendencies of social media companies indicate that it would damage the industry in the long term. If mishandled, these integrations will push millions of potential users away. One recent example of this is Twitter’s controversial move towards requiring verified members to pay $8+ monthly for Twitter Blue.
Currently, most popular creators on traditional social media platforms are driving platform traction, but the platforms themselves are benefiting from that traction with ad revenue, not the creators. Thus, a majority of these crypto integrations seem to bank on the trend rather than truly work within the ethos of the emerging technology.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Elon Musk’s response to fake verified Elon Twitter accounts: a new permanent ban policy for impersonationBreaking Elon’s rules risks an instant permaban.
Weiterlesen »
Paid Twitter verification is rolling out: What to know about Elon Musk's chaotic Twitter takeoverAmidst Elon Musk's tumultuous takeover, Twitter has layoffs and began rolling out a $7.99 Twitter Blue deal for paid verification and blue checkmark.
Weiterlesen »
Paid Twitter verification is rolling out: What to know about Elon Musk's chaotic Twitter takeoverAmidst Elon Musk's tumultuous takeover, Twitter has layoffs and began rolling out a $7.99 Twitter Blue deal for paid verification and blue checkmark.
Weiterlesen »
Paid Twitter verification is rolling out: What to know about Elon Musk's chaotic Twitter takeoverAn update to Twitter's iOS app mentions a Twitter Blue $7.99 offering that includes the blue checkmark and will soon have 'half the ads & much better ones,' as well as the ability to post longer videos.
Weiterlesen »
Furious Elon Musk Pledges to Ban Anyone Who Changes Their Display Name to 'Elon Musk'When it comes to making fun of the man himself, 'free speech absolutist' and new Twitter owner Elon Musk is pro-censorship and against 'impersonation.'
Weiterlesen »
An AI Elon Musk chatbot on Twitter purchase, Tesla, Biden, Epstein, YeWe wanted to ask Elon Musk about Twitter, Trump, and Tesla. But he seemed kinda busy, so we went with the next best thing: an AI version of him.
Weiterlesen »