Twitter Inc. has unveiled a new team to focus on cryptocurrencies, NFTs, decentralized applications, and other aspects of blockchain technology.
Engineer Tess Rinearson, a former associate at Cosmos, will lead the team that will focus on decentralized technologies beyond the financial domain.
The new team is seeking to improve the company’s bitcoin tipping feature and the NFT proof-of-identity solution through non-fungible tokens.
Rinearson plans to focus later on community building, identity-centered solutions, and Dapps in the long term. She has invited candidates interested in the Twitter crypto project to apply to join the Web 3.0-centered team.
Twitter traditional investors are not happy with the company’s decentralization move, with the company’s stocks down 25% in two weeks.
Twitter recently implemented the Lightning network, which allows users to send and receive tips in Bitcoin. The social media company CEO Jack Dorsey also unveiled the Bluesky initiative aimed at decentralizing social networks.