Posts on Twitter become NFTs. This is something that has been created by Cent, a social media company that has launched Valuables.
Thanks to this platform, users can literally buy tweets, paying for them with Ethereum. Valuables already has a volume of over $150,000.
Cent had already made a name for itself by enabling Ethereum transfers between users of its social network.
This time they have done more: they have made it possible for people to make offers to buy the tweets they produce, which are in fact tokenized and become NFTs.
How do Twitter NFTs work
According to Voice, the social network based on the EOS blockchain, the original idea was to create “tradable” posts. It was supposed to be just another function of Cent, to increase engagement on the platform, creating a market that wasn’t there before.
The operation is simple: it is necessary to use a browser such as Google Chrome or Brave, with an extension for the Metamask wallet, or it can be done through the MetaMask app and Coinbase wallet in their internal browser.
Via Valuable, the user has to paste the link to the tweet they want to buy and make their offer. The author has to accept it. After the transaction, exclusively in Ethereum, a certificate of ownership is issued on the Matic blockchain. The tweet never leaves Twitter.
The creators of this system, Matthew and Cameron from Cent, are aware that the transformation of Twitter into a large NFT marketplace is currently not a breakthrough for either the economy or the crypto ecosystem. It is mostly a game, something to spend time on.
They speculate, for example, that one day they might make an offer to Elon Musk to buy one of his tweets.
“I think he would laugh if he saw the offer tweet and for essentially no other reason. It’s a little weird I suppose but my instinct says to me that if I get this much amusement from this concept, it’s worth picking up and running with (to a degree) for that reason alone”.
After all, they say, part of the crypto world is based on memes, and in this sense the case of Dogecoin is emblematic.
The ambition though goes outside the context of the game:
“However, if it works, it could end up doing something truly remarkable. I’ll be closely following this, because if we start to see Twitter users provide a real stream of value to meme-makers and curators we may soon see Valuables begin to take over all of today’s social media platforms and add an agnostic layer to the tech stack we use to interact with every single one of them. How? Simply by allowing people to pay creators for making things they like, wherever they’re found”.
It’s something that is bound to broaden the debate over social media platforms, which have been called into question since Donald Trump has had his accounts banned.