This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

In 2020, the market for non-fungible tokens (NFTs ) grew by almost 300%. Currently the operations that involve these digital assets exceed 300 million dollars in transaction volume.

But what are NTFs and why have they grown so much? Non-convertible tokens, or NFTs (Non-Fungible Token), have contributed to the development of digital art, such as GIFs and tweets. Thanks to these technological developments, tweets of famous people are already being auctioned.

Digital tokens function as certificates of ownership of virtual or physical assets, that is, they allow to demonstrate the exclusive ownership of digital content such as a photo, a video, a meme, etc. NTFs are also used in finance, especially in cryptography.

NTFs on Twitter and the steps to achieve it

At the end of last month, Twitter dabbled in these new technological developments. The software engineering and consumer product marketing areas of the social network published a video in a tweet showing the first phases of this experiment.

The steps to obtain an NTF, according to the audiovisual material, are the following:

• Click on the avatar and select an NFT of the cryptographic wallet that you have. They can be from providers like Coinbase, Metamask, and Crypto.com.
• Download all your NFTs from OpenSea.
• Once you have chosen the NFTs to use as your profile picture, an “Ethereum” check mark will appear very similar to the check mark that Twitter gives to verified users.
• The entire NFT collection will then be stored in a profile tab, called Collectibles.

The development of NTFs continues to be refined, so users can submit comments and suggestions for improvement.

Among some of the improvements that Twitter continues to work on are:

• A view that allows the user to see an NFT up close.
• Access to a page where detailed information about the NFT is displayed, which will include details such as description, name of the creator, details of the property and any information related to the collection.
• The “Collectibles” tab will take the place of the “Like” tab on each user’s profile and you will have to scroll horizontally to get to it.

In addition, Twitter is expected to integrate crypto wallets or add recommendation functions between NFT users. NFT’s own marketplace is also expected, in which users can generate, buy and sell said intangible digital assets without leaving the platform.