HomeNewsInnovation Overtakes Musk: The Birth of Twitter (X) Crypto Payment Project

Innovation Overtakes Musk: The Birth of Twitter (X) Crypto Payment Project

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  • Web3 wallet Suku partners with Polygon for an innovative NFT mint project on Twitter, challenging Elon Musk’s vision for Twitter-based crypto payments.
  • More than 50,000 NFTs were minted within a 48-hour window, and over 48,000 users opened Suku accounts to participate in this trailblazing initiative.

While Elon Musk’s plans for Twitter’s transformation into a payments platform gathers momentum, Suku, a Web3 wallet service, is making decisive strides in that direction, working in concert with Polygon, the prominent sidechain solution provider.

A Crypto NFT Minting Fiesta on Twitter

A pioneer in the crypto payments landscape, Suku has engineered a platform that enables direct transactions of digital currencies and non-fungible tokens (NFTs) via social media networks, with Twitter as their initial choice. A recent collaboration with Polygon facilitated a gala open-edition NFT minting event in honor of the Polygon 2.0 launch. In a mere 48-hour span, users minted more than 50,000 NFTs by merely tweeting and tagging both Suku and Polygon, thereby highlighting the potential of Twitter as a platform for crypto transactions.

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Users participating in the event were then guided to download the Suku Wallet chrome extension or visit the wallet’s website. Logging in with their Twitter handles granted them access to their freshly minted NFTs. The event was a resounding success, with over 48,000 new Suku accounts created during the minting period.

Suku’s CEO, Yonathan Lapchik, underlined the company’s commitment to simplifying the crypto onboarding process. He explained,

“The majority of people will not have a wallet…for us, the first phase is really to give someone a wallet immediately.”

Suku plans to lead the charge in promoting the adoption of crypto transactions by covering the gas fees typically associated with sending or receiving payments. Their pioneering initiative begins with Twitter, but there are plans to integrate other social media platforms.

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Lapchik stressed the need for a single payment system that connects all social media platforms, rather than having disparate systems for each. He asserted,

“If you use Twitter, Facebook, Instagram, Reddit, and LinkedIn all day, you don’t want to have a payment system for each one of those – you only want to have one that connects to all of the social media platforms.”

While crypto payments applications have proliferated outside of social media, Suku’s innovation brings the ease and accessibility of crypto transactions to the social media landscape, thereby putting it a step ahead of Musk’s planned Twitter crypto payment adoption.

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Jack Williams
Jack Williams
As a Blockchain Analyst, I specialize in analyzing the performance of decentralized systems and optimizing their efficiency. Through data analysis, I provide insights on blockchain technology, smart contracts, and cryptocurrencies to help businesses make informed decisions and improve their operations.
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