Twitter will play an important part in Web3 Ecosystem: CEO Agrawal

• Web 3 has won the hearts of developers all across the world, according to Twitter CEO Parag Agrawal, who also cites a talent migration. He believes Twitter has a significant role to play in this trend.

• In Twitter’s fourth-quarter earnings call, business CEO Parag Agrawal discussed the increasing levels of migration of developers to Web 3.0.

The first business call

In recent months, there has been an increase in the number of developers migrating to Web 3. Two YouTube executives left their positions last month to take on new responsibilities at Web 3 firms. The great promise of blockchain technology, as well as the thrill of stepping into the unexplored ground, have been underlying themes in these migrations.

“When you think about the entire crypto ecosystem, which includes cryptocurrency, DeFi initiatives, and all the decentralized technology and apps created on top of the major blockchains,” Agwaral remarked during a Q&A session. what you notice is this incredible amount of developer energy that is interested in solving problems.”

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In Twitter’s fourth-quarter earnings call, business CEO Parag Agrawal discussed the increasing levels of migration of developers to Web 3.0. This is the new CEO’s first earnings call since taking over from Jack Dorsey in December as the company’s CTO.

The CEO also stated that Twitter is critical to the evolution of the ecosystem. Twitter, according to Parag, is “the site where this entire ecosystem goes to find out what’s going on across the ecosystem.” Blockchain fans have seen their Twitter networks grow in size, with the phrases crypto and bitcoin being referenced more than 100 million times in 2021.

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Twitter and Cryptocurrencies

Twitter has been a leading player in the use of blockchain technology, in addition to being a melting pot of Web 3.0 enthusiasts. This adoption streak started with Jack Dorsey as CEO and has lasted long into Parag’s time as CEO.

 The company launched the Bitcoin tipping option in September 2021, allowing customers to reward their favorite creators on the platform. Following the success of the move, Twitter announced the formation of a crypto team led by Tess Rinearson and has since hinted at the creation of a decentralized protocol project.

The latest Web 3 technology adoption is the NFT profile image verification, which allows users to validate the legitimacy of NFTs and show their NFTs. The new capability is only available to Twitter Blue users, however, all users can check the NFT’s uniqueness.