Meta and Twitter’s NFT Landgrab Could Backfire

#News(General) [ via IoTGroup ]

“Despite the positivity around NFT use cases there’s a lot of distrust in the community—perhaps due to the anonymity of key artists and influencers and almost certainly due to the scammers that circle like vultures and frequent rug pulls ” says PJ Cooper founder of Pandimensional Trading Co. which is launching its own NFT collection later this year.Despite those reservations Cooper is largely supportive of Twitter’s entry into the NFT space and says he will display an NFT as his profile picture when functionality rolls out to the UK.

Cooper does however have worries about the fact that people can still right-click and save NFT profile pictures and mint their own version of them as NFTs.A company spokesperson for NFT marketplace OpenSea Allie Mack confirmed that NFT profile pictures that appear on Twitter are verified through the company’s site.In fact Twitter uses API metadata and collection information from OpenSea to authenticate an NFT displayed on a user’s profile and turns it into a “soft hexagon” on the site.

Around the same time as Twitter launched NFTs OpenSea crashed.At the time