Elon Musk Slams Twitter, Calls NFT Profile Pictures Waste of Resources
While some anticipated this to be a breakthrough moment as Twitter-backed NFT profile picture service would popularise crypto adoption among the mainstream audience, some others just aren’t happy with the idea. One of the latter is the DOGEfather himself.
Twitter Didn’t Do It Right
Elon Musk in a tweet today voiced his displeasure with Twitter’s decision about enabling verified NFT pictures for your account. Not only did he call the service annoying he went on to say that:
“Twitter is spending engineering resources on this bs while crypto scammers are throwing a spambot block party in every thread!?”
And he wasn’t the only one to have this opinion. Many people on Twitter have been very vocal about the pointlessness of NFT profile pictures, including the like of popular trader Michael van de Poppe who agreed with Musk.
Finally, it was about time someone large started to mention this.
— Michaël van de Poppe (@CryptoMichNL) January 21, 2022
Twitter receiving negative reactions for this also has to do with the fact that despite the $3 subscription and verification process, the NFTs in profile pictures can still be easily downloaded by anyone.
Thus making the service merely a decoration tool for profiles.
But yet this was considerably surprising given Elon Musk has been an avid supporter of crypto and cryptocurrencies for more than a year now.
After accumulating about 42,902 BTC, worth around $1.8 billion at the moment, the SpaceX CEO ended up renouncing the king coin.
Citing environmental concerns, he decided to not support Bitcoin payments for Tesla until it would become environmentally sustainable.
Soon after then, he began supporting Dogecoin and for both these decisions, he was equally criticized and praised. Regardless, Elon continued with his bullishness on DOGE and even enabled payments on Tesla’s website.
How Will Twitter Help NFTs?
As discussed above NFTs is a booming market and its hype spreading all over the globe. Twitter capitalizing on it will in return make NFTs more popular. As it is till date NFTs have managed to amass $27 billion in volume cumulatively out of which $4.3 billion came just from this month.