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4 Reasons why you should fear Twitter’s ...

4 Reasons why you should fear Twitter’s new NFT feature

Feb 07, 2022

A week ago, Twitter announced it is launching a service to showcase NFTs as profile photos. It is doing so by allowing Twitter Blue users to link an account to a digital wallet, which itself uses an API to access the Ethereum Blockchain, where information about a “minted” image is stored. The resulting profile picture takes the shape of an hexagon. If that sounds like convoluted techno-babble, trust your instincts.

Here’s why this new feature is problematic.

1. The Beginning of the End for Privacy

Twitter is proposing to publicly link a person to an anonymous wallet. That means anyone will be able to see every transaction a person has made, as well as the current assets in their wallet.

2. Scams & Cybersecurity insanity

NFT aficionados are primed for social engineering schemes. Twitter just allowed these people to put a target on their backs. Not only that, but that target has their name on it. Scammers must be squealing with glee right now.

3. The centralization has begun

Only 6 wallets can be linked to a profile. These wallets access the Ethereum Blockchain through the OpenSea API. That’s one company, centralizing access. Beyond this, only people who pay Twitter monthly get to enjoy their NFTs in an hexagon.

4. Let the bullying begin

It’s possible to send anything to a digital wallet. They’re publicly accessible. So, if a Twitter user bothers me, I can pay 40$ in gas fees to send them horrifying images, which will stay in their wallet unless they pay to have them removed.

In conclusion, this feature is a great move for Twitter shareholders, and terrible news for everyone else.

Read the full article here.

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