JAKARTA Social media platform with the blue bird logo, Twitter, is reportedly developing the Coins feature in its service. This was revealed by a leading app blogger and researcher named Nima Owji.
Owji found that Coins' Twitter is not integrated with one of the cryptocurrencies as rumored recently, considering Elon Musk is a heavy supporter of cryptocurrencies with dog logos. The reason is, he did not find any references that lead to crypto or blockchain in leaked images of Coins' Twitter feature.
Twitter Coins Developed quietly
Launching Cointelegraph, many parties in the crypto community hope the "Twitter Coins" covert project will involve cryptocurrencies in several ways after the project was first leaked in early December by technology blogger Jane Manchun Wong and Nima Owji.
The Dogecoin community really hopes that Elon Musk will implement their favorite coins, given the Twitter CEO's affiliation with the token. At the Twitter Spaces on December 4, Musk said he was still interested in in integrating crypto with social media platforms.
Even so, newly leaked images of the project development shared by Wong and Owji on January 10 did not mention crypto technology or blockchain. Owji tweeted that so far no leaks had indicated that crypto would be involved in Coins Twitter.
"It seems to be an in-app currency to support its creators. I didn't find anything linking it to *crypto* currencies," wrote Owji.
The leaked images actually shed more light into the plan to use digital currencies in the app. One image is a screenshot of a claimed purchase splash page for Twitter Coins, which explains that the in-app currency will allow users to "support creators who tweet great content."
"Coins allows you to support creators who tweet great content. Unused coins are stored in your balance," wrote Nima Owji (@nima_owji), January 10, 2023.
This appears to be referring to the platform's "Twitter Awards", which Manchun Wong also leaked a week earlier, on January 5. According to Wong's tweet, awards like "Mind Blown," "Bravo" and "Super Like" can be sent to content creators on the platform at the expense stated in the Twitter Coin.
Similar to Reddit Coins
Based on Mashable's report, this feature bears similarities with Reddit's tip and award system, where Redditor uses "Reddit Coins" to send awards to other users who make posts, comments, or live video broadcasts they enjoy.
Even buying Twitter Coins won't involve crypto payments at this stage. According to Wong, Twitter's digital currency purchases will be activated via Stripe.
Stripe is a fiat-based payment processing platform that allows merchants to receive credit and debit cards, bank transfers, and cash-based vouchers.
Stripe Integrated with Crypto
On April 22, Stripe announced it had begun supporting payments to select Twitter content creators in the USD Coin. Twitter is working on a feature called Coins, which allows users to support creators on the platform.
Launching Mashable, hacker Jane Manchun Wong, who managed to see a feature that partially finished, stated that Coins' feature would be available in Stripe. Although there is no mention of crypto, Stripe has already received payments with crypto. That means, it is possible that Twitter users can buy Coins using cryptocurrencies.
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