In a larger effort to support creators on its platform, Twitter plans to roll out Bitcoin-based payments starting on Thursday, including Lightning wallet support.
The company announced the features in a call with reporters, noting that Bitcoin is "a global currency without geographical limitations" and that its crypto initiatives will help it keep up with "evolving decentralized news."
Two options will be available to Twitter users for employing Bitcoin tips. In the first case, there are various ways to pay, including Square Cash, Go Fund Me, and traditional credit cards.
The other option is to use Strike, a Bitcoin payment application based on the Lightning Network, which is intended to improve performance and reduce transaction costs.
From Thursday, iOS users will be able to tip with bitcoin, and Android users will follow shortly. An extensive series of tweets were sent out by the company detailing how the crypto tipping system would work.
As part of its effort to help its users make money off their activities off the platform, Bitconnect is rolling out Bitcoin tipping.
Users of "Super Followers" and "Spaces," among other features, can host events for a limited audience.
It also stated it would "examine the potential of nonfungible tokens for authentication." NFTs, aka non-fungible tokens, are unique digital objects created on a blockchain.
The company provided a photo titled "Twitter NFTs," but provided few details about what they intend to use them on.
Esther Crawford, a Twitter executive, explained, "This is a way to support artists who make these works of art, and demonstrate their authenticity.". Twitter users can track and display their NFT ownership by connecting their Bitcoin wallets."
Crowford described the NFTs as badges and said they could be used to "make it clear when a user is authenticated," suggesting the tools could be used to supplement Twitter's blue checkmarks system.
In addition, the company announced a fund for creators using Spaces and plans to increase the limit on tweets to 280 characters.