So the world keeps changing and we all know well and good that there is no way. That it’s going to stop, right? Some things are inevitable like change, error, flaws, and new inventions. That being say, what is something that is being talk about all over the world. What is that one thing that has shot up dramatically in price and has become immensely popular? If you were thinking about NFTs and NFT Marketplace then you’ve got that right. The blockchain is the very foundation of what awaits us in the future. While there are some questions that might doubt the very fact there are many that verify it. NFTs are a product of the blockchain and were the second thing to come after the cryptocurrency that blew massively.
Apart from that, the window of opportunity that NFTs. Bring basically add more value to a lot of simple things in life. For example, a video shot of a particular celeb or a unique painting or photograph taken by a professional can be encrypt with the blockchain
The advantage that this brings is basically making it impossible to copy and replicate and while some may be able to view it, it is impossible to copy or duplicate it. In today’s time, this is something that is completely unique considering that everything can be replicated in several different ways. NFTs have literally and figuratively taken the world by storm with the sole fact that there are NFTs being made of literally countless companies. NFTs have become a new means of marketing and this also means that the utility of these NFTs is something that is incredibly valuable.
A good example of an NFT that blew up is the taco bell one that re-sold for $180,000 while its original price was somewhere around $4. So with all this going on now, Twitter has joined the fray, and why wouldn’t it after all with NFTs there is more to gain than to lose.
Twitter tiles and more on that
To be exact Twitter isn’t launching any NFTs of its own, rather what it’s doing is creating a platform for NFTs to be display and sell . The platform was name Twitter tiles because they were displayed as digital tiles. In simpler terms, twitter was serving as a display platform for NFTs to be trade . Sounds familiar? Well yes, this means that after tying up with 4 different NFT marketplaces, Twitter basically has created a marketplace of its own to buy and sell NFTs. This is an incredibly profitable move on twitter’s part give their already existing database is massive. So this is an incredible move on the part of Twitter to make use of what is already existent and make it even better and allows access to a part of the future.
Twitter with its recent change of hands has already caused a significant stir already and now the introduction of this marketplace has taken things to a whole new level.
Jump.trade the platforms that are in this project one particular market. So much so that this platform has decided to implement the concept in twitter where a tweet had any request pertaining to an NFT in their marketplace. Apart from Jump.trade there are other marketplaces that are taking part in this thing as well and they play an equally important role in implementing this concept. While there is no official launch date for the Twitter tiles there are constant tests that are done to test their validity and it goes without saying that these NFTs are truly revolutionary. With that to the way, it’s not only Twitter that is taking this approach though, early on in May, Instagram had also already announced that it would be allowing its users to display their NFTs and act as a medium for people to connect to the NFT marketplaces.
Taking a step back
NFT marketplaces are quite important for use and there are several reasons why this is the case. This move by Twitter was completely genius as it acts as a connection or the center of a network that displays NFTs from other marketplaces as well.
- NFT marketplaces act as a central, digital hub where users can trade their NFTs and bid for others. While it seems like forever since they came out. These marketplaces are an accumulation of different kinds of NFTs that are being sell by several different people. Prior to 2021, there was no NFT marketplace which made things incredibly difficult as the transfer. Purchase of NFTs had to be manual.
- There are no hidden costs when it comes to NFT marketplaces; they are require to have maximum transparency. This means that no user need to be charge. More than the mention rate unless there is a bidding going on for it. Where the price is to change. So people have to only pay for the NFT and the taxes that need to be add or deduct.
- NFT marketplaces have now been divide based on market. For example, if you’re into gaming NFTs then you have Gaming NFT marketplaces. If its sports, then sports NFT marketplaces. What this does is, it makes it easy for users to go to a marketplace that caters to their tastes. Needs and allows them to buy the right kind of NFTs.
Conclusion
So to summarise. The Twitter tiles concept is something that is completely applicable give that it aims to provide room for NFTs. Also allows users to buy or sell NFTs with a tweet. This makes it easy for users to purchase NFTs and also with the massive user base. Twitter has, several NFTs-oriented companies and digital creators can put their NFTs out for display. There was and still is a need for NFT marketplaces. While there are several there is always room for more. This increases the number of options and choices. Whatnot but if it’s got to do with the future and the implementation. Enablement of Web3, it’s more than worth it.
