In the new leaked images about “Twitter Coins”, the secret digital asset under development of the platform, there are no references to cryptocurrencies or blockchain technology.
Many members of the community hoped that the secret “Twitter Coins” project would somehow include cryptocurrencies, after tech bloggers Jane Manchun Wong and Nima Owji leaked the project in early December.
Members of the Dogecoin (DOGE) community have been especially hopeful given Twitter CEO Elon Musk’s affiliation with the token.. At a Twitter Spaces event on December 4, Musk said that he remained interested in integrating cryptocurrency with the platform.
Nevertheless, The new leaked images of the development of the project, shared by Wong and Owji on January 10, do not mention cryptocurrencies or blockchain technology.
Owji tweeted that No leaks so far have provided any indication that cryptocurrencies will be involved in regards to Twitter Coins:
“It appears to be an in-app currency to support creators. I have not found anything that relates it to *cryptocurrencies*.”
The leaked images shed more light on the intended uses of the in-app digital currency.
One of the images is a screenshot of the purported Twitter Coins purchase page, which explains that the in-app currency will allow users to “support creators who tweet good content.”
“Coins allow you to support creators who Tweet great content. Unused coins are kept in your balance.” pic.twitter.com/ksNu75mI2r
— Nima Owji (@nima_owji) January 10, 2023
“Coins allow you to support creators who tweet great content. Unused coins are saved to your balance.”
This seems to refer to the platform’s “Twitter Awards”, which Manchun Wong also leaked. a week earlier, on January 5.
According to a Tweet Wong’s, Awards such as “Mind Blown”, “Bravo” and “Super Like” can be sent to content creators on the platform, at a cost denominated in Twitter Coins.
The feature bears similarities to Reddit’s tip and reward system, in which Redditors use “Reddit Coins” to send rewards to other users. who make a post, comment, or live video stream that they liked.
Even the purchase of Twitter Coins will not involve crypto payments at this stage. According to Wong, the purchase of Twitter’s digital currency will be made through fiat payments through Stripe.
Stripe is a fiat-based payment processing platform that allows merchants to accept credit and debit cards, bank transfers, and cash vouchers.
Nevertheless, that’s not to say that cryptocurrencies don’t have a role in the equation.
On April 22, Stripe announced that it had begun supporting payments to select Twitter content creators in USD Coin (USDC). Payments occur through the Polygon network.
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