In an unexpected move, Twitter, dubbed the “X” of the online world, has disabled support for non-fungible tokens (NFTs) in its premium membership section.
Premium subscribers initially had the unique ability to showcase their NFT holdings through personalized profile pictures, adorned with a distinct hexadecimal profile photo.
Users could seamlessly feature an NFT as their profile image after establishing a temporary link to their cryptocurrency wallets.
When finished, the digital asset would take on a distinct hexagonal shape, serving as a visual reminder of the user’s ownership.
However, as of the time of publication, the option to display NFTs had been removed from Twitter’s premium support section.
On January 20, 2022, NFT profile images were officially introduced on Twitter, complete with a verification system. Paid users who use non-fungible tokens had their avatars adorned with a distinct hexagonal border, indicating their use of non-fungible tokens.
Interestingly, Twitter’s decision follows a similar one made by Meta, the parent company of Facebook and Instagram.
Meta deactivated support for NFT profile images on its platforms on March 15, 2023, just ten months after the integration was announced.
According to Stephane Kasriel, Meta’s head of commerce and financial technologies, the decision to discontinue NFT support was made to “focus on other ways to support creators, people, and businesses.” However, no specific reasons for the withdrawal were given.
The NFT market has seen significant fluctuations, including a significant drop in trade volume. NFT trade volume had already dropped by over 98% in September 2022, just a few months after the crypto bear market began.
According to NonFungible.com, the decline continued into 2023, with sales peaking at 18,939 on January 5, only to plummet to 1,796 by December 20.
