Social media giant X discontinues NFT profile service, sparking debate in cryptocurrency community
- X’s bold move: Take a look at X’s unexpected decision to discontinue NFT profile photo service and the reactions that followed.
- Community Reaction: Highlights the diverse reactions within the cryptocurrency community, including both support and disappointment over the removal of NFT features.
In an unexpected move, popular social media platform This decision sparked mixed reactions within the cryptocurrency community. Jesse Powell, founder of Kraken, said: “Take a step back from the industry”
The Heart of X: Goodbye NFT Profile Service Bidding
Elon MuskThe social media giant, the brainchild of , appears to have bid farewell to its NFT profile feature. Previously, the service allowed X subscribers to showcase their Ethereum-based NFTs as their profile images on the platform. The journey of embracing NFT and Bitcoin (BTC) tipping began in September 2021, when X was still known as Twitter. The NFT profile extension, introduced in January 2022, was extended until October of the same year. “NFT Tweet Tile.”
This unexpected move sparked mixed reactions from the cryptocurrency community. While some applauded X’s decision to remove the NFT feature, others expressed disappointment.
Developer Jimmy Song noted the disappearance of the hexagonal NFT profile picture from X, raising questions about the whereabouts of marketers and VCs who once praised NFTs as revolutionary. Udi Wertheimer, co-founder of Taproot Wizards, echoed this sentiment when he humorously commented on X removing support for “legacy Ethereum off-chain pointers.”
BREAKING NEWS: X (Twitter) removes support for legacy Ethereum off-chain pointers. pic.twitter.com/R7gludA9fO
— Woody Wertheimer (@udiWertheimer) January 10, 2024
Industry Perspective: Jesse Powell’s Views
Kraken founder Jesse Powell weighed in on the development, claiming that X’s discontinuation of NFT profile photos was a setback for the industry. Powell emphasized that while NFT profile pictures have not been widely adopted, their disruption would mean a loss of utility.
He pointed out that despite being a Minimum Viable Product (MVP), it did not receive the attention and development it deserved due to its lack of essential community building, message signing, and proof of ownership features.
Powell said:
“NFT PFP wasn’t widely used, but it was an MVP and didn’t get the treatment it deserved, including community, message signing, and features built around proof of ownership.”
Paradigm Shift: Blockchain in Social Media
X’s decision to discontinue its NFT profile service sparks reflections on the broader integration of blockchain technology on social media platforms. The move is a reminder of the ever-changing nature of the industry, where innovation is permanent but not all experiments succeed.
As the market adapts to these changes, the future of digital collectibles and their role on mainstream platforms continues to unfold, potentially paving the way for more sophisticated and impactful applications of blockchain technology in the digital realm.