Twitter and TikTok Both Embrace NFT's With New Feature Rollout
It is now commonplace within the crypto community for owners of rare NFT art to change their profile picture to their NFT. The problem is that there currently is still no way to verify within the platform that you are the owner of this art. This type of formal NFT verification will further the demand for digital ownership in the NFT space and may soon act as a new type of reputation system on the web.
Aled Salnikov, the co-founder and head of product at Rarible, seems to think that the significance of Twitter rolling out this feature is less about provable ownership and more about the additional blockchain data that accompanies it. He says, "It's the access to data this feature unlocks that matters most here: What is the provenance of the NFT, who are the previous owners and how much was it bought for? It's a new reputation system for the digital world."
Twitter founder Jack Dorsey has long been a supporter of cryptocurrency and decentralization. Twitter also recently rolled out Bitcoin tipping for creators using the Bitcoin lightning network. Clearly, Twitter is actively working to position itself as the leader in blockchain adoption within the social media realm.
Not to be outdone, on September 28th, TikTok revealed it was launching an NFT collection inspired by its top creators including Lil Nas X, Bella Poarch, Curtis Roach, and others. The NFTs will be launched on the Ethereum network and powered by Immutable X, a new scaling solution for layer-two NFT protocol Immutable.
The collection, called TikTok Top Moments, is set to feature a selection of six TikTok videos from the network's most influential creators to celebrate their impact in helping it become one of the largest social media platforms in the world. Proceeds from the sales will go directly to content creators and NFT artists.
If there was ever a "mainstream moment" for blockchain and NFT's, this looks like it may be the one. Non-fungible tokens have already taken over the spotlight in the world of art and culture, and these integrations look like they will be the ones to bring even greater mass adoption to the crypto space.