Elon Musk: Twitter's NFTs are boring
Elon Musk: Twitter's NFTs are boring

Elon Musk described Twitter's non-fungible tokens as annoying. The social networking platform has taken a big step forward to integrate non-fungible tokens with the profile picture. This feature allows users to use their NFTs as profile pictures by connecting their wallets. However, this decision does not seem to move the richest man in the world.

Musk unhappy with Twitter

The Tesla CEO described it as annoying in a tweet that also included the photo of the announcement. He further added that "Twitter is spending engineering resources on this ridiculous feature while crypto scammers are throwing spambot block parties everywhere!?"

Musk's mention of crypto scammers refers to the thousands of tweets designed to steal people's cryptocurrency funds. Unfortunately, Twitter has been one of the most used platforms for attackers posing as famous people.

In May 2021, the Federal Trade Commission reported that Elon Musk impersonators stole more than $2 million in digital assets from consumers using deceptive tactics on platforms like Twitter. Not surprisingly, Elon Musk sees combating this threat as a bigger problem than NFTs.

It's clear that the billionaire who is a big advocate of the crypto industry is not a fan of non-fungible tokens. In his tweet, he called them "bullshit". Several people agreed that Twitter needs to address the problems of spambots and attackers.

Microstrategy CEO Michael Saylor proposed a solution to this problem by saying that only real people should be allowed to post and be verified on the platform.

However, some people are welcoming Twitter's NFT integration. The new feature is only available to paid subscribers of Twitter's Blue service. The verified NFT on the profile picture has a hexagonal border instead of the regular circular border.

Non-fungible token sales volume continues to soar

While the richest man in the world might have expressed displeasure with Twitter's latest pivot into the NFT space, data available in the space shows that interest is currently at an all-time high.

According to a previous report, OpenSea, the largest NFT marketplace has seen its monthly trading volume reach a new ATH of over $3.5 billion. Outside of that, a new NFT marketplace, LooksRare, alongside its native token, LOOKS, has enjoyed massive patronage in recent weeks. 

Social networking platform Twitter has just made the NFT profile photo feature available to its Blue service users. If this seems like a breakthrough in the crypto industry, it's not according to Elon Musk who considers the initiative irresponsible, accusing it of wasting resources. Indeed, the billionaire believes that the recurring piracy problem on the platform is largely prioritized to this kind of gadget. How will the general public receive Twitter's NFT profile picture?

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Nathan George

Blogger and Influencer

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