Twitter is currently working on a new feature called Coins. This will allow users to support their favorite contributors by rewarding them with money. The social network should also reserve a share of the reward to replenish its coffers.
Since the arrival of Elon Musk in business, the blue bird has been trying to find new sources of income. We think in particular of Twitter Blue, a paid subscription which allows access to some additional features. Researcher Jane Manchun Wong has just lifted the veil on a new option that is about to arrive on the platform. This allows users to remunerate the contributors they appreciate. A way also for Twitter to suck up some money.
It is a virtual currency called “Coins”. This is reminiscent of Twitch bits or even Reddit Coins. The principle is as follows: users can access a list of rewards that they can assign to their favorite creator, for a fee. For example, a “Mind Blown” corresponds to one coin while a Gold is equal to 5000 coins.
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Twitter wants to reward its popular contributors
According to a screenshot posted by Wong last week, it looks like recipients of the rewards will be able to redeem them for real money. However, they will have to wait until their balance exceeds $50. This is the same minimum payment amount as for contributors benefiting from “Super Follows”.
To make your token market, you will have to go through the Stripe payment platform. For the moment, there is no indication that the Coins functionality has a connection with cryptocurrencies. “Twitter generally does not transmit sensitive information about such things when they are not ready”explains developer Nima Owji to the Decrypt site. “I guess even if it has to be crypto related, they’ll add it to the code when they want to release it.”
