Twitter seems to have started the beta rollout of its Twitter Coins to certain users. A few Twitter users reported being able to buy Twitter Coins since Feb. 22. Rumors of Twitter releasing its own token started circulating in December 2022.
Twitter user who goes by ‘Tree of Alpha’ said a pack of 150 Twitter Coins priced at $1.99 became available for purchase on Wednesday. The only available payment method is Stripe, the user added.
CEO of IBC Group Mario Nawfal previously said that Twitter Coins, when launched, would allow users to reward Tweets.
App researcher Nima Owji posted a screenshot of Twitter’s explanation of its native token. According to Twitter, its coins are “virtual goods.” It noted, “As you receive coins they accumulate into Diamonds, which can be cashed out.”
Twitter said that its tokens will allow content creators to be rewarded by their fans and audience, and create a channel of passive income.
However, head analyst at Blockware Joe Burnett noted that Twitter rival Nostr’s zaps are “1,000x better than Twitter Coins.” Nostr is a decentralized social media platform where zaps signify micropayments made using Bitcoin’s Lightning Network.
Burnett added:
“Twitter should become a Nostr client ASAP if they wish to remain relevant for the remainder of the 21st century.”
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