TWTR - Why Twitter's NFT Profile Pics Are a Really Big Deal
Non-fungible tokens, or NFTs, have become a growing part of the digital economy. In 2021, the sale of NFTs exploded to $24.9 billion from just $94.9 million a year earlier. Cryptocurrencies like Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL) are building out ecosystems of marketplaces to create, buy, and sell NFTs. Games and websites are using NFTs to depict ownership and gate users' access to digital goods and locations. Whether you're in the NFT space or not, it's undeniable that it's growing like crazy.
As the technology ecosystem is built out, other parts of the NFT ecosystem need to mature, and one is in discovery and community. Starting a project is one thing, but reaching the 1,000 to 10,000 niche users who highly value a specific project is difficult. But once you find them, the community discussion is a critical piece of almost every project. Twitter (NYSE: TWTR) has long played a role in this discovery and community-building phase , and now it's trying to find a way to add value to the NFT community itself.
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Why Twitter's NFT Profile Pics Are a Really Big Deal