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Despite being introduced as a pioneering feature two years ago, X (formerly Twitter) under Elon Musk’s X ownership has recently discontinued the use of non-fungible token (NFT) images as profile pictures for premium subscribers.
Elon Musk X Halts NFT
This feature, initially targeted at Twitter Blue subscribers, allowed users to display verifiable NFTs as their profile pictures, setting a precedent in social media integration of NFT technology. However, recent developments reveal that the option to activate this feature through the iPhone version of the Twitter app is no longer available, signaling a shift in the platform’s approach to NFT integration.
X has removed support for NFT pfps.
— Farokh (@farokh) January 10, 2024
Just so you know:
Digital property rights are not a joke.
If any of you take screenshots of my CryptoPunk and pretend it's yours, I will sue you. pic.twitter.com/SHnSNEjXqo
The omission of this feature in the current version of the app indicates a strategic shift led by Elon Musk X; however, as of now, X has not released any official statements clarifying the reasoning behind this decision.
Elon Musk X Halts NFT – Uncertain Future for X’s NFT Profile Pictures Amidst Industry Shifts
X, formerly Twitter, has phased out the NFT profile picture feature, raising questions about the fate of Ethereum blockchain verification and the distinctive hexagonal images it offered. Users with existing NFT-equipped profile pictures now face uncertainty.
This move reflects broader industry trends, with Meta recently de-emphasizing NFTs on Instagram to focus more on AI development and its overarching metaverse vision.
The decision to remove the NFT profile picture feature on X follows a series of crypto-related incidents on Twitter, underlining the evolving landscape in the social media sphere concerning the integration and prominence of blockchain and NFT technologies.
The involvement of the FBI underscores the severity of the cybersecurity breach, as the United States Securities and Exchange Commission (SEC) takes decisive action to investigate the compromise of its official account on X, highlighting the potential consequences of lax security measures.
Resilient Surge: NFT Trading Volume Escalates Despite Elon Musk X Decision
In October, the NFT market witnessed a notable surge, hitting a trading volume of $405 million, signaling a return to levels not seen since August.
December 2023 marked a groundbreaking moment for NFT sales on the Bitcoin (BTC) network, reaching an unprecedented milestone of over $881 million. This set a record for the highest single-month sales on the platform.
The impressive December figure included 111,713 buyer addresses and 98,744 seller addresses, establishing new records for both categories. In contrast, Ethereum, the second-largest blockchain, trailed with NFT sales totaling $364.79 million.
The dominance of BTC-focused NFT sales was evident, surpassing Ethereum’s by a significant margin, with a ratio 2.34 times greater in December. These statistics underscore the growing importance of Bitcoin in the NFT space, demonstrating increased appeal to both buyers and sellers.
Behind Solana’s impressive third-place position with around $325.14 million in NFT sales, Polygon and Arbitrum emerged as the next leading blockchains in terms of NFT transactions, contributing to the overall diversification and expansion of the NFT market.
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