Blockchain News

More Details Emerge on Twitter Coins — and Crypto’s not Included

Nima Owji, a tech blogger and app researcher, said he found no evidence that cryptocurrencies were involved.

There are no references to cryptocurrency or blockchain technology in newly leaked images of “Twitter Coins,” the platform’s secret in-development digital asset.

Many people were hoping that the secret “Twitter Coins” project, which was first leaked in early December by tech bloggers Jane Manchun Wong and Nima Owji, would involve cryptocurrency in some way.

Members of the Dogecoin (DOGE) community have been especially optimistic, owing to Twitter CEO Musk’s involvement with the token. Musk stated in a Dec. 4 Twitter Spaces that he was still interested in integrating cryptocurrency with the social media platform.

However, newly leaked images of the project’s development shared by Wong and Owji on January 10 make no mention of cryptocurrency or blockchain technology.

In a Twitter post, Owji stated that no leaks have provided any indication that cryptocurrency will be used in Twitter Coins:

“It appears to be an in-app currency to help the creators. I couldn’t find anything relating to *crypto* currency.”

Instead, the leaked images shed more light on the intended uses of the in-app digital currency.

One of the images is a screenshot of the alleged Twitter Coins purchasing splash page, which claims that the in-app currency will allow users to “support creators who Tweet great content.”

This appears to be a reference to the platform’s “Twitter Awards,” which Manchun Wong also leaked a week earlier on Jan. 5.

According to Wong’s Twitter post, content creators on the platform can receive awards such as “Mind Blown,” “Bravo,” and “Super Like” for a fee denominated in Twitter Coins.

A screenshot of the Twitter Awards list. Twitter user Jane Manchun Wong

The feature is similar to Reddit’s tipping and rewards system, in which Redditors use “Reddit Coins” to award other users who make a post, comment, or live video broadcast that they enjoy.

At this time, even purchasing Twitter Coins will not involve crypto payments. According to Wong, Twitter’s digital currency will be available for purchase using fiat via Stripe.

Stripe is a payment processing platform based on fiat currency that allows merchants to accept credit and debit cards, bank transfers, and cash-based vouchers.

That is not to say that cryptocurrency will not play a role in the equation in the future.

Stripe announced on April 22, 2022, that it had begun supporting payouts to select Twitter content creators in USD Coin (USDC), with payouts taking place via the Polygon network.


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