Elon Musk slams Twitter’s integration with NFT
Elon Musk, the CEO of Tesla, is critical of Twitter’s new non-fungible token (NFT) integration. Musk chastised Twitter in a tweet posted Friday morning for allocating technical resources to integrating NFTs while failing to do more to control spam behaviour on the social media platform.
“I find this vexing,” he wrote. “How come Twitter is devoting technical resources to this nonsense while cryptocurrency fraudsters have a spambot block party on every post!”
Twitter has begun providing users with access to NFT profile photos (PFPs). Several user profiles already include hexagon-shaped avatars with NFT graphics. The photographs are now visible on Twitter as part of a verified collection on the NFT marketplace OpenSea.
Musk’s criticism of Twitter’s NFT initiative is likely due to the fact that phoney accounts often imitate Tesla CEO Elon Musk and other prominent persons in order to promote cryptocurrency giveaway schemes. In 2020, one such Musk impostor was able to defraud unsuspecting victims of $2 million. Musk’s tweet criticising cryptocurrency fraudsters was followed by tweets offering bogus giveaways.
Recently, scammers posing as MicroStrategy CEO Michael Saylor stole almost $1 million in bitcoin from one person. This is not a problem exclusive to Twitter; fraudsters often use identical strategies on government websites and a variety of other social media platforms, including YouTube. Twitter’s NFT integration is presently only accessible to subscribers of Twitter Blue.