The digital world is on the verge of implementing a sophisticated identity system. This reality is rapidly approaching, according to social media developments.
Non-fungible Tokens (NFTs) are being integrated into the services of Twitter and Tiktok, two of the most popular social media sites. Both, according to analysts, are laying the groundwork for a new verification system.
For example, Twitter is experimenting with how its 185 million members can show their NFTs on their accounts. Mada Aflak, its senior engineer, predicts that users will soon utilize NFTs to identify themselves. Twitter will also give them a marking that verifies their blockchain (BC) provenance.
TikTok, for its part, announced the launch of its NFT collection in September. Immutable X would be a partner in the project. Leading creatives will inspire the Ethereum-based collection. It will include Lil Nas X, Bella Poarch, and others, in addition to Curtis Roach.
NFTs will bring in a new system of identification
Twitter’s collectibles system will allow it to address the problem of copying and pasting that it has been experiencing. It’s easier to establish control over the BC than it is on social media. Users adopted the popular ones as their profiles during this year’s NFT boom, annoying collectors who purchased them.
The lack of a verification mechanism allows NFTs to be shared on social media without being verified. However, by connecting their wallets to Twitter, users may check this. It may also develop a new web-based reputation system in addition to allowing people to exhibit their collections.
According to Alex Salnikov of Raribles, Twitter’s progress goes beyond establishing ownership of NFTs. He argues that obtaining data, the cornerstone for the new digital world reputation system is critical.
NFTs will encourage widespread use
Jesse Johnson of Aavegotchi is one of the people who are thrilled about Twitter‘s new capabilities. They will, he claims, assist people in showcasing their digital identities. He sees our physical selves intertwined with our digital personas. As a result, our wallets have become a natural form of identification for who we are.
TikTok Top Moments is the tag for TikTok’s NFT collection. It includes six videos from its most well-known artists. It will also be a celebration of the creators’ contributions to TikTok‘s worldwide prominence. In addition, profits from NFT sales will be distributed to content producers via the platform.
Salnikov, commenting on TikTok’s approach, claims that influencers would monetize their work using NFTs. He goes on to say that this will allow cryptos to gain widespread adoption.
TikTok is a major participant in the social media platforms industry, with over a billion users. It is mainstreaming BC technology by accepting it. According to Daniele Mensi of DigitalBits, TikTok is ushering its users into a new age of value creation through NFTs.
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Users, according to Mensi, can tokenize anything. As a result, artists selling their works as NFTs will again encourage fans to buy pieces of their works.
TikTok is no stranger to the world of blockchain technology. For example, Audius, a blockchain-based audio streaming company, was hired to generate TikTok sounds in August. Users of the latter can use this collaboration to create songs and send them to TikTok.
The introduction of both of these platforms into the NFT sector is the product of years of work. The adventure began in 2013 when the fledgling crypto community attempted to capture physical goods on the BC using colored coins. NFTs have brought that reality to the crypto-verse.