Twitter became the latest entity to abandon its NFT collections despite a lessening of the hype surrounding non-fungible tokens.

Announcing the development today, the social media platform revealed that it has created 140 NFTs, which will be distributed for free to 140 users. Although NFTs are free, around seven of them have already been listed on the Ethereum-based platform, Rarible, with a “not for sale” disclaimer. At the time of writing, the offer price for each of the listed NFTs was 1mETH.

The new NFTs are different from the Tweet NFT, which was auctioned by Jack Dorsey in March. At the time, Dorsey digitized his first tweet and auctioned it on Valuables, a platform that allows users to tokenize and sell tweets, with the Twitter boss being the first major figure to do so on the platform. .

The newly launched Twitter digital arts include Reply Guy (the faceless man behind mansplaining), Vitamin T (Vitamin Twitter), Furry Twitter, twttr jggl, Rare Form, Building Characters, and First Born, but to name a few.

Sharing information on the development, Cinneamhain Ventures partner Adam Cochran noticed that the move “looks like Twitter has finally noticed a unique ETH value”, adding that perhaps Jack Dorsey “will slowly migrate to become a crypto maxi in general.”

Lately, Dorsey has shown more interest in the cryptocurrency industry and even said he would leave Square and Twitter for Bitcoin if he needed him more.

A renewed NFT hype?

Twitter’s move to launch a free NFT collection comes at a time when the craze surrounding non-fungible tokens has begun to wane. However, the hype seems to have renewed itself and the crypto community may see some of Twitter’s NFTs selling at ridiculous prices, as seen in the past.

Between late last year and April 2021, the NFT sector saw massive investments, with Beeple’s most expensive NFT sold for $ 69 million. As the NFT craze continued to spread, celebrities from around the world, such as FC Barcelona player Gerard Piqué and Hip Hop’s Titan Eminem, joined the bandwagon, launching their own NFT collections or recommending NFT-related projects.

The growth has forced viewers to ask if NFTs are in a bubble by comparing them to the old days of the ICO. An earlier report confirmed that the NFT hype had peaked and surpassed the ICO madness of 2017 and 2018.


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