Social Medium X Removes NFT Profile Picture Feature for Paid Subscribers
On January 9, social medium X announced its 2024 vision, which includes the introduction of more AI tools and peer-to-peer payments. However, TechCrunch observed that the platform made a significant change for paid subscribers – they can no longer set an NFT as their profile picture. This feature was initially launched in January 2022, allowing Twitter Blue subscribers to showcase NFTs minted on Ethereum as profile pictures in the shape of hexagons.
Twitter Blue Subscribers No Longer Able to Set NFT Profile Pictures
Previously, Twitter Blue subscribers had the option to set NFTs minted on Ethereum as their profile pictures. These NFTs appeared as hexagonal shapes. By clicking or tapping on the profile picture, users could access additional information about the token, such as the contact address, collection details, TokenID, and the app used for minting. The platform removed the NFT profile picture description from its Premium support page, indicating that this feature is no longer available for users.
Decline in NFT Popularity Prompts X to Remove Feature
The decision to remove the NFT profile picture feature from social medium X is not surprising given the current decline in NFT popularity across various social media platforms. In 2022, Facebook and Instagram also experimented with displaying and posting NFTs, but Facebook stopped supporting these tokens in March of that year. Even highly popular NFTs like Bored Ape Yacht Club (BAYC) experienced a significant decrease in value. However, the NFT market has shown signs of recovery, with NFT trading volumes surpassing $1.6 billion in recent months, according to data cited by TechCrunch.
Other Social Media Platforms Also Showing Waning Interest in NFTs
The removal of the NFT profile picture feature by social medium X reflects a broader trend among social media platforms, which are demonstrating a waning interest in NFTs. Facebook and Instagram, for example, initially embraced NFTs but ultimately decided to discontinue their support. It remains to be seen how other platforms will respond to the changing landscape of NFT popularity and whether they will follow suit in removing NFT-related features.
NFT Market Shows Signs of Recovery with Trading Volumes Exceeding $1.6 Billion
Despite the decline in NFT popularity, the market has recently shown signs of recovery. Trading volumes for NFTs have exceeded $1.6 billion in the past few months, indicating a renewed interest and potential growth in the NFT space. While social medium X has decided to remove the NFT profile picture feature, it remains to be seen whether this trend will continue or if the NFT market will experience another downturn in the future.
In conclusion, social medium X has removed the NFT profile picture feature for paid subscribers as part of its 2024 vision. This change reflects a broader trend of waning interest in NFTs among social media platforms. Despite the decline in NFT popularity, recent data indicates a recovery in the market, with trading volumes surpassing $1.6 billion. The future of NFTs and their role in social media platforms remains uncertain, but these recent developments highlight the evolving nature of the NFT landscape.
Analyst comment
Neutral news.
As an analyst, the removal of the NFT profile picture feature for paid subscribers by social medium X reflects a broader trend of waning interest in NFTs among social media platforms. The recent recovery in the NFT market, with trading volumes surpassing $1.6 billion, suggests a potential growth in the NFT space. The future of NFTs in social media platforms remains uncertain, but these developments highlight the evolving nature of the NFT landscape.
