The action was taken immediately before the eagerly awaited debut of the y00ts NFT collection, a follow-up to DeGods (1), the most well-liked NFT collection on Solana (2). As soon as the accounts were suspended, Austin Federa (3), the Solana Foundation's head of communications, urged Twitter to either restore the accounts or provide a convincing explanation for the suspension. The Solana Foundation then halted all ad spending until the accounts were restored.
As there was no official justification for why the accounts were suspended or quickly restored after the threat, the accounts were then said to have been reinstated and are accessible as of noon EST. A campaign for the reinstatement of the suspended accounts was initiated by one of the users, DeGods, the creator of @frankdegods, and it has already received almost 20,700 likes on a single post.
Federa then said it was important to draw a line in the sand someplace since many large web 2.0 organizations are trying to have it both ways by luring web 3.0 developers while maintaining an unaccountable level of control. Around 10,000 virtual deity treasures with unique clothes are included in the DeGods collection, with a floor price of around 519 SOL.
The project is also well-known for its infamous "bitch tax," (4) a tax of about 33.3% applied to all NFT items sold below the stated floor price. The collection's organizers assert that there are DeGod collectible owners in every nation but North Korea and that its trading turnover just topped one million SOL.
The suspension was a huge shock to the DeGods NFT group, who were already aggressively investigating what had occurred. Over 6,000 tweets regarding the topic were sent at one point, making the hashtag Y00ts (5) trend online.
Solana’s second outage
One of the biggest cryptocurrencies, Solana, plummeted more than 12% on Wednesday as its blockchain had its second failure in the past month, trailing only bitcoin and ether. As the network's validators took a while to process fresh blocks, it was necessary to take its blockchain-based applications offline.
When the outage was fixed, validators had to restart by following the instructions connected to the same Twitter account. Subsequently, the downtime was reported to last four and a half hours. The situation was flagged on Twitter (6) by the Solana Status account at noon Eastern. Solana has been gaining popularity in NFT and DeFi ecosystems in recent years since it is more affordable and convenient to use than Ethereum.
According to its website, this blockchain processes 50,000 transactions per second at an average cost of $0.00025. Compared to Solana, Ethereum (7) can only handle about 13 transactions per second, and its transaction fees are significantly higher.
During the recent crypto run-up, investors concentrating mostly on Ethereum started diversifying into Solana and other alternative blockchains. In June 2021, Solana finished a $314 million private token sale organized by Andreessen Horowitz (8) and Polychain Capital (9).
The blockchain network has already had numerous outages over the past 1.5 years, the most recent of which occurred on May 1 and lasted several hours until it was similarly brought back online after a restart of its validator network. This has made the trade-off clear.
Twitter and NFTs
Most businesses, primarily Twitter, have included non-fungible tokens into their ecosystems due to the recent surge in NFTs. For Twitter Blue users, it was stated that it would display the NFTs that individuals own as their Twitter profile picture.
Twitter introduced Twitter Blue, a paid subscription service that gives users access to premium and upcoming features. In addition to many other capabilities, users can modify published tweets, browse news without advertisements, and post longer videos.
Among its many features, NFT PFP enables users to link their cryptocurrency wallet, submit NFT as their profile image, and even run advertisements.
How to add NFT as profile picture PFP?
To sign up for this function from the side menu on Twitter, users must have a paid subscription to Twitter Blue (10). because most nations, including Australia, Canada, and many more, now offer this service.
Users can change their profile picture to an NFT by visiting the profile section of the Twitter app, which is available from the side menu. Users who wish to receive the notification can do so by visiting the profile of another user who is already utilizing an NFT and taking the following actions:
1- Tap on Choose NFT and then click on Connect my wallet.
3- Users will be redirected to the wallet and asked to connect their wallet to Twitter.
4- Once the connection is made, it will show a gallery of the NFTs available in the wallet.
5- Select an NFT and resize it as needed.
6- Tap on Done to add the NFT as the profile picture, aka NFT PFP.
How to view other users' NFT PFP
Twitter users can tap on other users' profile pictures to examine their NFTs and view additional details about each user's NFT by selecting View NFT Details from the drop-down menu. These specifics are accessible through NFT PFP once you click on it.
1-Its verification from OpenSea or any other NFT marketplace supported by Twitter.
2-The NFT’s creator.
3-Current NFT owner.
4–NFT collection and a summary.
5-NFT properties, such as if the NFT is from a rare trait
6-More details such as contract address, token ID, blockchain, and token standard.
Although Twitter has always backed NFTs and other cutting-edge technologies that foster digital growth and a decentralized economy, there is still more to learn about the recent suspension of the Solana and other Twitter NFT accounts. This NFT-driven Twitter has not given more information on why the accounts were initially suspended.