Twitter is silently developing its own crypto wallet?

According to popular technology blogger Jane Manchun Wong, social media giant Twitter is working on developing a crypto wallet.

Rumors about the wallet

At dawn on October 25, 23-year-old coder Jane Manchun Wong revealed that Twitter was in the process of building a “wallet prototype,” a wallet that allows deposits and withdrawals of cryptocurrencies. 

Dubbed "the girl in Silicon Valley to watch out for", the researcher with more than 122,800 followers is famous for many "sensational" revelations about giants like Twitter, Instagram and Facebook, before reaching the public. 

Twitter has yet to comment on the matter. However, Wong's followers were more or less excited. Some even teased that the new wallet should be called "MetaMusk", a sarcastic combination of Metamask and Elon Musk, referring to the billionaire's "twilight" deal with Twitter. 

If the above information is correct, the "winner" for Twitter seems to be too narrow compared to the big names Coinbase , Crypto.com , Ledger ... 

As of now, Coinbase has over 105 million verified users on the platform, a quarterly trading volume of $217 billion, and is one of the most popular wallets with over 5 million downloads on the AppStore .

Or look to Ledger for proof, the company has won the hearts and loyalty of more than 2 million global users. In addition to being one of the first companies to appear on the market, Ledger is also known for its modern hardware wallet solution, which supports more than 1,800 familiar tokens on the platform.

However, it should also be noted that Twitter is home to more than 7,500 employees, over $5 billion in revenue, not to mention the acquisition by Elon Musk. Although it will be difficult to win against the big guys, it is not impossible at the hands of the new owner. 

Twitter's "methodical" entry into Web3

Twitter has been rolling out Bitcoin (BTC) tips for content creators since September 2021. By mid-February of the following year, the platform had similarly integrated with Ethereum users. 

In addition, this social network also allows users to show off NFTs on their profile pictures and collect calls to action (CTA). 

A few days ago, Twitter partnered with GuardianLink's marketplaces OpenSea, Rarible, Magic Eden, Dapper Labs and Jump.trade, turning tweet headlines into NFTs.

But today's buzz about the wallet the emergence of a crypto wallet has the potential to turn Twitter into a completely Web3 platform.

FoxCryptoNews summary

Oct 25, 2022