Social media users are swirling around rumors that Twitter is planning to introduce its own native asset called “Twitter Coin” to be used for payments and tips on the platform.
Some cite initial reports from sources such as Nima Owji, who runs an app-focused information leak account on Twitter.
On December 4, he posted a screenshot of what appears to be a prototype Twitter interface showing a “Coins” option for tipping, as well as a vector image showing a coin bearing the Twitter logo.
— Nima Owji (@nima_owji) December 3, 2022
Others pointed to tweets by tech researcher Jane Manchun Wong, who claimed to have extracted code from a specific version of Twitter’s web application to find the same information as Owji, though the post itself- meme and Wong’s account have since been deleted for unknown reasons.
There has also been a flurry of posts under the TwitterCoin hashtag, with many excited but ultimately not surprised that the social media platform can work on new payment rails and system integrations now that Elon Musk is at the helm.
New buzz circulating about a “Twitter Coin” and it’s been trending. Without a doubt, Twitter is working hard to integrate a payment system that is both fiat and crypto, and without a doubt, for crypto, #TwitterPiPayment is the most viable option. Nothing better than Pi there. Time will tell us. pic.twitter.com/kTs3lS4Tk2
— Woody Lightyear π (@WoodyLightyearx) December 5, 2022
Members of the feverish Dogecoin community on Twitter and Reddit also tried to connect the dots, with some remaining I hope Twitter Coin is just a placeholder name for Dogecoin, given Musk’s longtime affiliation with the memecoin.
— Pythadoge (@pythadoge) December 5, 2022
Speaking on a similar subject in a December 4 Twitter space, Musk suggested to an audience of 2.1 million listeners that he was still interested in bringing crypto to the social media platform.
“It’s sort of a no-brainer for Twitter to have payments, both fiat and crypto,” he said.
As it stands, Twitter has gradually expanded its payment integrations over the past two years and currently supports fiat tipping for a host method alongside Bitcoin (BTC) and Ethereum (ETH), which were integrated in September 2021.
Since the $44 billion takeover in October, Musk has overseen a slew of changes to Twitter, particularly regarding censorship policy, information disclosure and botting activities.