Today, the connection between digital currencies and virtual space has reached a point that if you are also one of those interested in the digital currency market, it is better to know about it. You must have heard recently that Facebook changed its name to Meta; But what is the reason? Mark Zuckerberg, the founder of Facebook, recently announced that he plans to bring Facebook into the world of Metaus, and therefore changed the name of Facebook to Meta.

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It should be noted that Facebook was not the only virtual platform that entered the field of digital currencies. In addition to Facebook, Twitter has also added the possibility of payment through Bitcoin to its platform. In the rest of this article, we will examine the relationship between digital currencies and virtual space; So stay with us.

Twitter became borderline!

You may know Twitter as the first social network to be encrypted. Twitter was able to attract the attention of many people for the first time by adding the possibility of payment through Bitcoin. Also, Twitter plans to provide conditions in the near future so that users can connect their digital currency wallets to their Twitter account and thus confirm their ownership of NFT tokens with a special badge in tweets.

Twitter has been testing this feature for the past several months, but didn’t manage to launch it until last week. Payment with Bitcoin is currently launched for iOS operating systems and soon this feature will be launched for Android operating systems as well. Keep in mind that Twitter will not be involved in transactions, the only purpose of this project is to make it easier for users to access payment systems.

Bitcoin payments on Twitter are made through the Strike platform. In fact, Strike is a Bitcoin wallet that operates on the Lightning Network platform. It should be noted that the purpose of creating the Lightning network was to give users faster and cheaper access to Bitcoin transactions.

It is better to know that before starting to add this feature to Twitter, the CEO of Twitter, Jack Dorsey, had invested in the developer company Lightning.

How to pay with Bitcoin on Twitter

As mentioned, Bitcoin payments on Twitter are enabled by the Strike platform. Currently, Strike application is ready to serve its users in El Salvador and all American states except New York and Hawaii. In addition to Strike, Twitter users can add their Bitcoin addresses on their Twitter account page. In this case, users can copy the wallet address of their desired page by referring to the payment options section of their Twitter account and transfer Bitcoin from it. to use

Twitter will send notifications to people who have received Bitcoin through the Strike app, so that they know about the transactions as soon as possible.

It is better to know that the relationship between digital currencies and virtual space is not only limited to payment through Bitcoin. The Twitter company has announced that it plans to support the ownership verification system of non-monogamous tokens (NFTs) by adding the possibility of connecting digital currency wallets to the user account.

The spokesperson of Twitter spoke about this issue as follows:

Confirmation of the ownership of non-equivalent tokens (NFT) is shown as a sign in the user’s profile and indicates that the said user is the owner of this token.

Using NFT Tokens in Meta (Facebook)

If you are also one of those interested in checking the best ways to make money from Metaverse, you must know that some time ago Facebook company changed its name to Meta and the reason for that was the merger of Facebook with Metaverse. Therefore, the attention of many people was drawn to the connection between digital currencies and virtual space.

Using NFT on Meta and Instagram

According to new reports published in the Financial Times news agency, Facebook plans to add support for non-identical tokens to its social networks. As you know, some time ago, Mark Zuckerberg bought the rights of WhatsApp and Instagram companies and therefore added them to the Facebook subcategory. Now, when Zuckerberg’s dream comes true and this phenomenon occurs, in addition to Facebook, Instagram will also support this feature.

Currently, the NFT market is hot and many different platforms are trying to launch their projects into the non-equivalent token market. Regarding the Facebook company, we should say that according to the review of recent reports, the Facebook company has claimed that it allows users to create their own NFTs and use it as their profile picture. To learn about NFT, read the NFT definition article.

This matter came to the public right when the rival social network (Twitter) has recently announced that from now on users will be able to use non-NFT tokens for their profile pictures. Of course, it has recently been rumored that Facebook is planning to create a dedicated NFT market for itself.

Read more: How to make NFT tokens

In August 2021, David Markus (head of Facebook’s F2 group) said this in an interview with Bloomberg news agency:

Thinking of the metaverse as a digital environment is very useful in designing products that need to be future-oriented. When I think about what is needed in a metaverse, quick and easy transfer of assets, building a new infrastructure, and interoperability are important to me, as a user may have multiple wallets to participate in the metaverse. In my opinion, having programmable money and smart contract on the blockchain will make a big change in the metaverse.

Because if you are a producer and you want to create NFT, you probably want to sell or rent it. Therefore, a business model can be created around this axis, which, of course, is impossible with the current payment infrastructure and without a smart contract.

last word

In this article, we examined the relationship between digital currencies and virtual space. Undoubtedly, the future belongs to the metaverse and non-traditional tokens such as NFTs. Both Twitter and Facebook are among the top platforms in cyberspace, and considering their integration with digital currencies, we will definitely see significant growth in NFTs and the Metaverse industry. It should be noted that you need training to take advantage of all these features and emerging features of the world of digital currencies; So get ahead of others by learning digital currency and shape the future in a different way.