On October 24, security researcher Jane Manchun Wong published through her social networks that Twitter is working on a “prototype wallet” that will accept cryptocurrency deposits and withdrawals.
The researcher with more than 122,800 followers on Twitter is known on social networks for unveiling the most hidden secrets of companies before they are officially published. For several years Wong has been revealing secrets of major social networks such as Twitter, Instagram and Facebook.
Twitter is working on a “wallet prototype” that supports “crypto deposit and withdrawal”
— Jane Manchun Wong (@wongmjane) October 24, 2022
So far Twitter has not commented on the matter, however, Wong’s followers have already shown their euphoria and excitement about the news. Some have even joked with the possible name of the new wallet calling it “MetaMusk” a perfect combination between Metamask and Elon Musk.
Cryptocurrency wallets are software or hardware programs that contain public and private keys that are unique to the owner, which serve to provide greater security when storing or transacting with cryptocurrencies.
Twitter and other cryptocurrency wallets
Currently, there are several cryptocurrency wallets that have been launched by large companies in the crypto sector such as Coinbase, BlockFi, SatoshiLabs, Ledger, Gemini, Crypto.com, among many others.
Coinbase has as of today more than 105 million verified users on its platform and a quarterly traded volume of $217 billion, making its wallet one of the preferred wallets in the ecosystem with more than 5 million downloads on the AppStore.
In addition, funds deposited into Coinbase’s wallet are cold-stored on the platform, offering greater security with hacks.
On the other hand, we have the company Ledger, which has won the sympathy and loyalty of cryptocurrency enthusiasts, because in addition to being one of the first to come on the market, it has an elegant and modern hardware that does not go out of fashion and supports more than 1,800 tokens on its platform.
Currently, Ledger’s products have more than 2 million users worldwide.
However, it should be noted that Twitter is a company with over 7,500 employees and revenues exceeding $5 billion, this is not to mention that the company was recently purchased by Elon Musk, the world’s most moneyed man who is known to be an enthusiast of cryptocurrencies and memecoins such as Dogecoin (DOGE) and Shiba Inu (SHIB).
While Twitter will surely not have an easy time against the big boys in the crypto industry, we will most likely see a lot of innovation from the company thanks to its new buyer.
Twitter and the Web3
Twitter is expanding its web strategy3 with a test product that will allow users to share NFTs and call-to-action (CTA) collection objects on the platform.
A few days ago, Twitter partnered with marketplaces OpenSea, Rarible, Magic Eden, Dapper Labs and GuardianLink’s Jump.trade to enable tweet tiles for NFTs.
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