Elon Musk Drops NFT Profile Pictures On X
NFT Profile Pictures

Elon Musk Drops NFT Profile Pictures On X

Elon Musk’s X Drops NFT Profile Pictures Feature, Moving Away from Ethereum Integration???

X (previously known as Twitter), now under Elon Musk’s leadership, has recently phased out a feature that enabled premium users to use NFT profile pictures on their profiles.

Launched in January two years prior, this service was targeted at Twitter Blue subscribers, allowing them to use a verifiable NFT for their profile picture.

This initiative was a trailblazing move in the realm of social media, endorsing NFTs at a time when other significant platforms such as Facebook and Instagram, part of Meta, had not yet embraced this technology.

Current updates, however, reveal that this functionality, particularly through the iPhone app of X, is no longer accessible.

The removal of this feature in the latest version of the app implies a strategic shift under Elon Musk’s direction, though X has not officially commented on this change yet.

Twitter’s NFT Profile Picture Feature

The NFT profile pictures function enabled users to authenticate NFT ownership through Ethereum’s blockchain, displaying it as a hexagonal image to set it apart from regular circular avatars.

The continuation of this feature and its unique hexagonal format remains uncertain, particularly for those who currently use an NFT as their profile image.

This development unfolds against the backdrop of shifting perspectives on NFTs and blockchain technology within the social media sector. For instance, Meta has scaled back its focus on NFTs within Instagram, opting to prioritize AI advancement and its larger metaverse strategy.

The removal of the NFT profile image option also comes after several crypto-related issues on Twitter. A significant incident involved the hacking of the U.S. Securities and Exchange Commission’s (SEC) official account on X, falsely declaring the approval of Bitcoin ETFs. This security breach, stemming from weak two-factor authentication and compromised phone access, led to an FBI involvement to investigate this cybersecurity oversight.

NFT Profile Pictures

Musk’s Decision Had No Impact On NFT Trading Volume

In October, the NFT market experienced a dramatic increase, with trading volumes soaring by $99 million to a high of $405 million, a peak not witnessed since August.

Similarly, December 2023 marked a historic moment for NFT sales on the Bitcoin (BTC) network, as they exceeded $881 million for the first time, setting an all-time record.

The Bitcoin network saw NFT transactions amounting to $881,223,753.92, the highest for any single month so far. This surge included a record-breaking 111,713 buyers and 98,744 sellers.

Meanwhile, Ethereum, ranking as the second-largest blockchain, followed with its NFT sales reaching $364.79 million.

In comparison, NFT transactions focused on BTC overwhelmingly surpassed those on ETH, with Bitcoin-based sales being 2.34 times higher in December.

Solana claimed the third position, recording about $325.14 million in NFT transactions, which is a remarkable 312% jump from the previous month’s figures.

Following closely, Polygon and Arbitrum emerged as other leading blockchains in the realm of NFT sales.

Share the Post:

Related Posts

Never miss the lastest crypto news

Bull Report newsletters give you the latest industry newss, movements, oppertunities, advice and more ...
Bitcoin's Bullish Signals