Elon Musk dunks on Twitter's integration with NFTs
January 21, 2022, 5:45AM EST
1 min read
Tesla CEO Elon Musk is not a fan of Twitter’s new non-fungible token (NFT) integration. In a tweet posted on Friday morning, Musk slammed Twitter for spending engineering resources on integrating NFTs while not doing enough to curb spam activity on the social media site.
"This is annoying," he wrote. "Twitter is spending engineering resources on this bs while crypto scammers are throwing a spambot block party in every thread!?"
Twitter recently began rolling out access to NFT profile pictures (PFPs) for its users. Some user accounts are already sporting hexagon-shaped avatars that display NFT images. Twitter now shows that the images are part of a verified collection on NFT marketplace OpenSea.
Musk’s criticism of Twitter’s NFT venture is likely because fake accounts often impersonate the Tesla CEO and other notable figures to promote crypto giveaway scams. In 2020, one such Musk impersonator was able to steal $2 million from unsuspecting victims. Fittingly, under Musk's tweet complaining about crypto scammers were tweets promoting fake giveaways.
Scammers pretending to be MicroStrategy CEO Michael Saylor also recently stole over $1 million worth of bitcoin from an individual. This issue is not restricted to Twitter alone, as fraudsters also employ similar tactics on government websites and several other social media platforms like YouTube.
Twitter’s NFT integration is currently only available to members of the social media company’s subscription service Twitter Blue.
For more breaking stories like this, make sure to follow The Block on Twitter.
From the removal of many Russian banks from SWIFT to a seemingly constant flow of new sanctions, Russia’s invasion of Ukraine has left many to wonder: Is the country likely to lurch towards cryptocurrencies? And if so, what does this mean for businesses that are holding and/or using crypto? Crypto and sanctions evasion Although crypto […]
Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.