Hey, are you excited to spend thousands of dollars on digital image files that might, and may not, end up worth even more money at some stage in the future?
Whatever your personal feelings about the current craze for NFT, it’s clear that this is a new trend and that many people are now ‘investing’ in digital artwork through cryptocurrency, with the aim of showing their connection to web culture, but also that highlight the rich when these unique profile pictures, featuring monkeys, lions and cats, among others, become even more valuable in the theoretical metaverse.
In the long run, it is unlikely to be a sustainable market, but nonetheless, NFTs are the madness of the moment, with various NFT-related events and encounters taking place around the world.
Some of the major social platforms are now also relying on it, and Instagram is working on a new NFT display option, and Twitter is developing an updated profile image display process that will allow users to show off their NFTs by directly linking their images to their crypto wallet. .
And that option seems to be approaching. Yesterday, an application researcher Alessandro Paluzzi, shared this introductory screen for the image option of Twitter’s NFT profiles, which notes that NFT profiles will be displayed in a different format than regular round images.
Today, she is the queen of hacking social applications Jane Manchun Wong has revealed even more details about it, including new hexagonal images will actually look, and how the whole NFT connection process will work.
As you can see in these pictures, Twitter will soon offer a new option ‘Select NFT’ when you go to update your profile picture. As it says on the introductory screen, users will then need to link their crypto wallet to link their NFT collection directly to Twitter’s display tool.
In these images, you can see that the linked NFT profile image is hexagonal, which could make your NFT screen stand out more in the feeds. Twitter will also encourage users to alert their followers about the new profile picture, citing the creator of the NFT in the automatically generated message.
When you tap the NFT profile image, users will also be able to see more information about the NFT, including the creator, owner, and more.
The idea is to provide a more direct link to the original contractor, while confirming official ownership, and the alternative image format also provides more security that the user actually owns the NFT he displays as his profile picture.
Because anyone can right-click and save any image, right? This is a key argument against NFT, that they aren’t really worth anything because anyone can download an image and use it as they wish, even as a picture of their Twitter profile. And unlike physical works of art, which involve an actual, physical copy, there is no difference between the original NFT and the copied file – so there is no reason to pay for it. Is not it?
Well, that’s partly true.
This is true in the basic form of the content, because the original and each copy will be essentially the same, while the purchase of NFT does not include ownership of the core work that NFT represents, just that digital copy, which means you don’t actually have the rights to the original artwork. It becomes unclear in terms of how that work can be reused, but as the law stands, even if you own NFT, that wouldn’t stop the creator from selling the original piece in a separate contract.
As for using Twitter, the question arises as to what happens when someone uses your NFT as their profile picture. Do you have a legal right to stop them? Can you ask Twitter to get them to download it?
Again, there are some legal complexities here, but this new display option seeks to dispel potential disputes by providing an alternative visual format for NFTs that you officially own. So if you see someone with a round NFT profile, it would probably indicate that he doesn’t actually own it – and maybe that would then be enough to deter people from ‘stealing’ NFTs from people they would use as a picture of their profile.
Which is a smart solution, and you know the NFT community will love having a unique profile format for their images.
Of course, based on the above ownership gaps, from a legal standpoint, this points to further questions about the true value of NFT, while the market is also flooded with so many digital images and collections that, again, it seems like an unsustainable trend, at least from a value perspective.
Also, the metaverse, as intended, does not yet exist, so anyone who sells their NFTs with claims such as ‘metaverse ready’ or the like clearly extends the truth, which also puts the cloud above the long-term value of such works from this perspective.
At the same time, providing more opportunities for artists is great, in any form, and the fact that NFTs, if they can be shown in a connected capacity like this, ensures that these artists are both paid and get more exposure is a huge bonus , and as such, we hope that the wider NFT market will find a balance, and that ownership issues can be sorted, so that it remains a permanent option for creators.
It will take some time to calm down, and the current hype to some extent masks the real potential. But in terms of broader applications, Twitter’s system really does seem like a good way to share NFTs and address ownership inquiries, which could provide a pathway for other platforms to establish similar display options.
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