Twitter has announced its NFT collection, which is based on the Ethereum network and will be distributed for free.
Despite the fact that it was launched on the Ethereum network, Jack Dorsey has stated that he is still a Bitcoin Maxi and has no plans to invest in ETH.
Jack Dorsey, the CEO of Twitter, has pledged his support for Bitcoin. Since joining the movement, not even Ethereum, which is supported by significant technological advancements, has piqued the Twitter CEO’s interest. Dorsey has, however, backed and been actively involved in certain of the Ethereum network’s projects after making his position apparent. The Bitcoin Maximalist sold his first-ever tweet as NFT for $2.9 million in Ethereum in March, though he noted that the ETH revenues were converted to Bitcoin and donated to charity immediately.
Elon Musk and Jack Dorsey are expected to have “The Talk” about institutional Bitcoin adoption.
Twitter issued its first set of NFTs on the Ethereum network just a few days ago. The 140 Twitter NFTs will be handed away for free and will represent a moving image of the brand logo. Users can, however, sell them on Rarible, an Ethereum-based NFT marketplace.
The Ethereum community reacted positively to his NFT move. One of the numerous Ethereum supporters, packanimalETH, couldn’t contain his joy, tweeting that it’s just a matter of time before Dorsey invests in the cryptocurrency. However, the CEO of Twitter’s response was unsatisfactory. A simple “No” was the CEO’s response.
In his NFT plan, Dorsey has a contradicting concept.
He re-emphasized his resolute resolve to make Bitcoin the internet’s money at the Bitcoin conference in Miami last month. No other crypto, including their related networks, mattered to him.
All of the other coins, in my opinion, are irrelevant.
This remark was a little conflicting. He only spoke about investing in Ethereum-based NFTs a week ago.
The idea of what NFTs represent, of just looking critically at how artists are compensated and proving it, is something we want to devote a lot of time and energy to in the future.
In the last few years, his digital payment startup, Square, has invested $220 million on Bitcoin. His team, he claims, is looking into ways to use blockchain to promote business. His Bitcoin maximalism ideology raises issues about how he plans to decentralize Twitter using only the Bitcoin Blockchain and the Blue Sky initiative. Adam Cochran, a partner at venture capital firm Cinneamhain Ventures, noticed him going back and forth with his idea:
While Twitter produces Ethereum-based NFTs on Rariblecom, Jack remains a BTC maxi. I’m amazed he won’t be representing the United States at the 2021 Olympics in Tokyo this year, given his mental gymnastics…
Twitter NFT Ethereum/n
