September 2021

Twitter presentations the NFT profile photos as hexagons, differentiating them from the usual

Tapping at the photos activates information about the artwork and its possession to appear. Like different tech companies, Twitter is speeding to coins in on crypto traits like NFTs, a form of speculative asset authenticating virtual objects along with images, motion pictures and land in digital worlds. The social media platform remaining yr brought capability for customers to ship and acquire Bitcoin. Sales of NFTs reached some $25 billion in 2021, in keeping with records from marketplace tracker DappRadar, despite the fact that there have been symptoms and symptoms of boom slowing towards the give up of the yr.

Proponents of “Web3” technology like NFTs say they decentralize possession online, growing a route for customers to earn cash from famous creations, as opposed to having the ones advantages accrue commonly to a handful of tech platforms. Critics disregard the decentralization claims, noting that some of the offerings powering adoption of these technology – just like the six crypto wallets supported via way of means of Twitter’s NFT product – are subsidized via way of means of a small organization of undertaking capitalists.

In a broadly circulated tweet https://twitter.com/wongmjane/status/1484191510455533569 after the launch, protection researcher Jane Manchun Wong highlighted one of these links, displaying how an outage at undertaking-subsidized NFT market OpenSea briefly blocked NFTs from loading on Twitter. OpenSea did now no longer right away reply to a request from Reuters for comment. (Reporting via way of means of Katie Paul; Editing via way of means of Simon Cameron-Moore)

Making a business on quickest developing layout

Which these days misplaced a 3rd of its marketplace cost after a dark profits report, has highlighted Reels as a key priority. Meta released Reels on Instagram in 2020 and on Facebook in 2021 as its solution to the explosively famous short-video app TikTok, that’s owned via way of means of Chinese tech massive ByteDance. “Reels is already our quickest developing content material layout via way of means of far, and these days we’re making it to be had to all and sundry on Facebook globally,” Meta CEO Mark Zuckerberg stated in a Facebook submit on Tuesday.

The company, which says video now debts for 1/2 of of the time human beings spend on Facebook, additionally introduced new approaches for creators to make cash via the Reels feature. It stated it became increasing its software to pay creators bonuses to greater international locations and became checking out overlay advertisements the usage of banners and stickers for creators to earn advert sales. It could roll out full-display screen advertisements among Reels soon. Meta stated for the duration of its brand new profits that it had confronted hits from Apple Inc’s privateness modifications to its working system, that have made it tougher for manufacturers to goal and degree their advertisements on Facebook and Instagram.

It additionally referred to macroeconomic troubles like supply-chain disruptions. The 18-year-vintage tech behemoth closing month additionally warned it expects slowing sales boom withinside the coming region because of extended opposition for customers’ time and a shift of engagement closer to capabilities like Reels, which generate much less sales. In its Tuesday announcement, Meta additionally stated it’d roll out updates for customers to make and spot Facebook Reels in new places, which includes in its Stories feature, its Watch tab and on the pinnacle of the information feed. In a few international locations, customers may also see cautioned Reels of their feed.