Twitter Presses On again with Bitcoin tips, NFTs, Recorded Spaces, Creator Fund and more

Twitter, over time, has no intention of reducing its rate on Product announcements. The social media behemoths introduced some new initiatives aimed at better serving the conversations and community using its platform, including support for tipping with crypto, NFT authentication and plans for other experiments designed to provide more context about a conversation to those just joining in. The company also said it’s preparing to launch its creator fund in a few weeks to provide audio creators with access to financial, technical and marketing support.

Twitter’s Product Lead for Creator Monetization, Esther Crawford noted in a statement that;

     “The goal is really to provide this technical and marketing expertise. “We see it as a kind of stopgap solution. We want to involve these people in other long term monetization functions. But we want to give them a first boost.”

Although Twitter was not yet ready to give details such as the fund size or the expected reach, in terms of the participants of the Creator it is a clear shot in front of a top competitor in the area of ​​social audio, Clubhouse, whose own “Accelerator”; offered to connect its content to attendees with branded offers or $ 5,000 per month during their participation in this program.

Likewise, the social networking platform views its Creator Fund as a fund that does not aim to reward creators for the content they produce – like some competing funds running on Facebook, Instagram, Snap, and elsewhere – but rather aims to encourage creators to support entry into audio productions on Twitter Spaces.

Space hosts will also be able to record and play their programs –a move likely to counter the threat posed by competing platforms that are touting recording as a key differentiator. This will start in “a few months”, the company announced.

New Features for NFTs

Twitter also announced some new products and enhancements for recently introduced features, and an interesting feature from one of these products that would allow the app to better serve creators working with NFTs or non-fungible tokens is –a way to certify digital assets that are stored on the blockchain. Artists now create NFTs of their work that are sold on NFT marketplaces like OpenSea, Rarible, Foundation, SuperRare, and others.

They also further announced they would examine support for NFT authentication. This would allow NFT creators to connect their crypto wallets to Twitter to track and showcase their NFTs on the platform. This particular plan is still in its early stages as Twitter has yet to articulate how this would work. The company said it was testing various ideas to visually highlight YouTubers with authenticated collections – perhaps with something like a profile badge or a differently shaped avatar.

Twitter CEO Jack Dorsey this summer tweeted that;

        It was “only a matter of time” before Twitter built support for the Lightning Network, a layer atop the Bitcoin blockchain, into its platform.

At the time, there was some speculation that users would first see this sort of support in a micropayments product, which has now been proven correct.

Bitcoin Tipping 

Another new feature in the crypto space is support for Bitcoin tipping. Twitter first introduced its “Tip Jar” feature in May as a beta product, allowing users to send and receive one-time payments via third-party services like PayPal, Venmo, Patreon, Cash App, Bandcamp and others. Now the feature will expand to global audiences on iOS with Android coming soon, and will add support for tipping with Bitcoin.

There will be a couple of ways Bitcoin tips can work. Users will be able to add a Bitcoin Lightning wallet or their Bitcoin address in order to start receiving Bitcoin tips. Lightning wallets are popular among users in the crypto community due to their lower transaction fees, the company said. Twitter’s implementation of this uses Strike, a payments application built on the Bitcoin Lightning Network that allows people to send and receive Bitcoin free and instantly, Twitter said.

The Tip Jar will add a few other services as well, including GoFundMe.

New Features Sets to Protect Emotional Health 

A different experiment called “Heads Up” is the first to give users a sense of the mood of a conversation before wading into it. One of Twitter’s thorniest problems is its inability to help people feel safe and share their thoughts and opinions on its network, which has served as a breeding ground for the demolition culture and where armies of trolls can fall on marginalized voices or others, that they disagree with at all time – such as activists, women in technology (as made famous by the Gamergate scandal) or journalists.

In this area, Twitter has introduced new features like those that enable users to limit who can reply to their tweets, which it says has contributed to a decline in abuse reports over the past four weeks. The safety mode was also introduced into the beta phase, which offers a kind of automated protection against harassment in times of increased abuse. It created a way for people to quietly remove followers as an alternative block. And today, Twitter says that it will soon be launching a new feature that will allow users to remove themselves from a conversation that mentions them and experiment with a new feature called “Word Filter” that would allow users to stop abusive tweets that fail to cross the line to violate Twitter guidelines.

The company has been launching new products at an incredibly fast clip in recent months, with additions that have included a rapidly improved Twitter Spaces audio chat platform, the launch of interest-based “Communities,” creator platform Super Follows, newsletters via its acquisition of Revue, tipping, a premium subscription service called Twitter Blue, crowdsourced fact-checking with Birdwatch, new e-commerce features, new profiles and labels, a reopened account verification system, conversation controls, Direct Message improvements and more.

Kayvon Beykpour, Head of Consumer Product at Twitter mentioned in a comment, 

      “It is evident how time and time again we advance this vision through experimentation and iteration”. “You will see how we publicly share our progress on this journey, as we have done over the past few years. And you won’t see that we get tied to the things that don’t work. 

        We have done that with fleets and you will see this on other explorations we test too. We believe that if we don’t unwind things from time to time, we won’t be making big enough bets” he said.

Decentralizing Twitter 

Twitter is said to be working on more Spaces discovery tools that would make it easier to find Spaces at the top of the timeline, and elsewhere in the app — a likely reference to the dedicated Spaces tab on mobile. It’s also expanding access to Ticketed Spaces, improving the discovery of newsletters, launching a new creator earnings dashboard, and working on more account labels — like those brands and those that would help memorialize the accounts of the deceased — among other things.

Twitter noted, too, how it plans to handle moderation within its Communities feature, saying that these interest-based destinations would have their moderators and norms specific to that community, above and beyond the Twitter Rules.

“It’s our first step into decentralizing moderation so that your Twitter is your space,” explained Twitter’s Product Lead for Conversational Safety, Christine Su, adding that Communities would open up to more people “soon.”

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