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No reference to crypto or blockchain technology can be found anywhere in the newly leaked images of “Twitter Coins,” the platform’s secret in-development digital assets.
Many in the community had hoped cryptocurrencies would be involved in some way after the secret ‘Twitter Coins’ project was first leaked by tech bloggers Jane Manchun Wong and Nima Owji in early December. .
Members of the Dogecoin (DOGE) community are particularly hopeful given that Twitter CEO Elon Musk has partnered with the token. At his Twitter Spaces event on Dec. 4, Musk said he is still interested in integrating cryptocurrencies into social media platforms.
However, newly leaked images of the project’s development shared by Wong and Owji on Jan. 10 make no mention of crypto or blockchain technology.
Owji tweeted that so far there have been no leaks indicating cryptocurrency involvement with Twitter Coins.
“Seems like an in-app currency to support creators. Couldn’t find anything related to *crypto* currency.”
Leaked images instead provide more light on the planned use of in-app digital currency.
One of the images is a screenshot of the purported splash page for purchasing Twitter Coins, which describes the in-app currency as allowing users to “support creators who Tweet great content.”
“With coins, you can support creators who tweet great content. Unspent coins will be stored in your balance.” pic.twitter.com/ksNu75mI2r
— Nimaoji (@nima_owji) January 10, 2023
This seems to refer to the platform’s “Twitter Awards,” which was leaked by Manchun Wong a week ago on January 5th.
according to Tweet Awards such as ‘Mindblown’, ‘Bravo’ and ‘Super Like’ will be awarded by Wong to content creators on the platform. Fees are per Twitter coin.
This feature is similar to Reddit’s tip and reward system. In this system, Reddit users use “Reddit Coins” to send rewards to other users who have enjoyed their posts, comments or live video broadcasts.
Related: Twitter Data Breach: Hackers Steal Personal Information of 200 Million Users
Purchasing Twitter Coins does not require a cryptocurrency payment at this stage. Purchases of Twitter’s digital currency will be possible through fiat currency using Stripe, Wong said.
Stripe is a fiat-based payment processing platform that allows merchants to accept credit and debit cards, bank transfers, and cash-based vouchers.
This is not to say, however, that cryptocurrencies may not ultimately enter the equation.
On April 22nd, Stripe announced that it is now supporting payments to select Twitter content creators in USD Coin (USDC), and payments will be made through the Polygon network.
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