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X (previously known as Twitter) will cease to support the functionality of using non-fungible tokens (NFTs) as profile pictures for accounts.
The updated Premium subscription guidelines for X, formerly Twitter, no longer mention the support for NFT avatars.
In the past, users who subscribed to the Premium service could utilize NFTs stored in their cryptocurrency wallets as their profile images. The platform’s verification system enabled users to showcase static NFT images adhering to the ERC-721 and ERC-1155 standards, along with others developed on the Ethereum blockchain. These profile images were distinguished by a hexagonal frame.
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The introduction of NFT avatars on X occurred in January 2022 and remained accessible to users until January 10, 2024. It is noteworthy that the project team did not officially communicate the termination of support for non-fungible tokens.
Additionally, in March 2023, NFT avatars became unavailable for users of Facebook and Instagram, as Meta opted to concentrate on alternative methods to support creators.
Data from CryptoSlam! indicates that the trading volume of non-fungible tokens in 2023 reached only $8.7 billion, which is nearly three times lower than its peak in 2022. There is a prevailing belief that the NFT market may never return to its all-time high due to the speculative nature of that period.
The message X Stops Supporting NFT Avatars first appeared on CoinsPaid Media.
