Rebranding of Twitter to "X" is seen as something that was on Elon Musk plan of making the social media platform a payments application. However, a crypto company Suku might just beat him to it.
What is Suku?
Suku is a web3 wallet, a crypto payments application facilitating transactions over social media platforms. Suku is reportedly starting with Twitter to allow Twitter users send crypto and NFTs directly to each other.
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Suzuki has plans to add other social media platforms however, it is beginning their first push into cryptocurrency payments with Twitter. While on the other hand as per Musk planning, he also is planning of evolving Twitter into a payments application.
Crypto payments applications have been there for some time now outside of social media platforms. Several companies are now looking to take their products to social platforms.
Telegram also have announced in July, it will now allow users send crypto payments within chats.
I believe this is something that is made possible by the blockchain technology. Who would have thought of sending digital currencies on social media platforms.
Hive as a web3 social media platform allow users earn on the content they share, users can transfer their native tokens without any fee on the chain is something that I believe gives Hive an edge over Twitter and Facebook etc, but still Hive needs to work on its development side and grab a good traffic.
Let's see how Twitter is going to perform after integrating digital currency payments feature. But it looks like they already have a rival Suku.
Any thoughts?