BENGALURU: Twitter has announced that it is testing a new feature ‘NFT Tweet Tiles’. This will show a larger picture of the NFT (non-fungible tokens) alongside details such as the title and creator, and this is the platform’s newest experimental display format for NFTs.
Jump.trade, GuardianLink’s NFT marketplace and B2C platform that focuses on gaming NFTs and international brands, has been shortlisted by Twitter for NFT Tweet Tiles. Apart from Jump.trade, other marketplaces included in the experiment are Rarible, Magic Eden and Dapper Labs.
Facebook, Instagram, and now Twitter have incorporated NFTs into their interface and experiences.
“If social networking companies that have a very strong reputation have openly endorsed this new dimension of technology, it cannot be denied that NFTs are bound to be the order of the future,” Kameshwaran Elangovan, co-founder and COO at GuardianLink told TNIE.
When asked about NFT Tweet Tiles, Edul Patel, CEO and co-founder of Mudrex, a crypto investing platform, said, “With Elon Musk now at the helm of affairs at Twitter, we can expect a few surprises
from time to time. Considering the ‘degen’ population that constitutes Twitter, the crypto market would remain on its toes.”
According to a report by Grand View Research, the global NFT market size will reach $211.72 billion by 2030, at a CAGR (compound annual growth rate) of 33.9% from 2022. It says the growing use of cryptocurrency globally is also anticipated to drive the growth of the market. NFTs have set in motion a revolutionary period in web technologies, with popular platforms such as Twitter working on building specific NFT verification mechanisms.
Potentially, these digital tokens could be leveraged as digital passports, university library cards, event tickets, ownership deeds in the metaverse and much more, said Abhay Aggarwal, founder and CEO of Colexion.
Vikram R Singh, founder and CEO of Antier, a blockchain development and consultancy company, said that with the growing scope of Web3, organisations are coming up with new innovations and concepts. He added that NFTs are being incorporated into games and there is a rising focus on the building utilities of NFTs rather than price speculation.