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Twitter Previews Coming NFT Display Options for Profile Images

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twitter previews coming nft display options for profile images

After sharing an initial preview of its coming NFT display option last month, Twitter has now shared some new insight into its in-development NFT showcase process, which will eventually enable Twitter users to share their NFTs with direct connection back to the ownership status of each.

As you can see in this example, posted by Twitter engineer Ethan Sutin, the new Twitter NFT display process will enable users to connect their NFT details into their image feed, which will then let profile visitors look up the info on any NFT that you use, providing direct assurance of ownership, and leaning into the rising NFT movement.

Which, confusingly at times, is rapidly rising, with people ‘investing’ thousands, even millions of dollars into still drawings that don’t really seem like art in the traditional sense.

In all honestly and transparency, I don’t really get the whole NFT thing.

I mean, I get the concept, and I understand the opportunities that they can create for digital artists, and the expansion of art investing, which could end up providing a lifeline for many creators who are looking to spend more time on their craft.

But when I see that this image of a cartoon monkey sold for the equivalent of $3.4 million, it does hurt my head a little bit.

Bored Ape example

This is a rare NFT from the Bored Ape Yacht Club collection – rare because the ape is gold, and there are apparently not many apes in this color variant.

But it’s just a picture, right? And really, not a very good one, from a craft perspective. That’s not to denigrate the artists involved, but when you consider what’s traditionally considered to be fine art that would command such a high price, and the careful brush strokes and techniques used to create those timeless images – the sheer time and effort involved in painting, say, the Mona Lisa or Monet’s waterlilies. By comparison, this hand-drawn picture doesn’t really match up. Right?

Of course, art is subjective, and whether an individual likes a piece or not is irrelevant, because as long as there’s a person, or people, willing to pay for it, the value is what the market dictates. But I see this with most of these NFT images, craft-wise, that they’re not much better than what a teenager might doodle on their notepad when they’re bored in class.

Maybe that, in itself, is part of the appeal, but I struggle to imagine that in ten or twenty years’ time, that these artworks will still be highly valued, which makes the ‘investment’ element questionable in my mind.

The other aspect that can be confusing is NFT ownership – how do you ‘own’ a digital art work that anyone can re-use, or re-share, with limited legal recourse?

For paintings and physical art, you have the actual piece, the canvas that the artist touched and worked on, and there’s only one in existence. But for digital art, there is no physical copy, so you ‘owning’ this piece and me, for example, owning a fake is actually no different at all, there’s no differentiation in what the art work actually is (though depending on the purchase agreement, the owner may be able to stop re-productions).

That’s one aspect that Twitter’s new NFT display could help to address – by providing the full details of each NFT, users would technically only be able to display art that they officially own, or it would be totally transparent in the case that they didn’t. This is arguably the most important element of this new project, and it could help ensure that artists get paid for their work, and the usage of such, by exposing those looking to fake it for NFT community cred.

Which is a real thing. The NFT movement is gradually taking over social media, and as more profile images switch to cartoonish depictions, of various form, it is definitely worth the platforms themselves looking into how they can best facilitate such, and fuel further engagement to lean into the next big art shift.

Which NFTs definitely are, whether I get them or not. Respected art house Southeby’s has already made NFTs a key focus, and as more collectors get involved in the NFT community, the movement continues to grow, and looks set to get much, much bigger as we move into the metaverse.

As such, Twitter’s new NFT project makes sense – and while I don’t know that I’ll ever get why people are paying hundreds of thousands of dollars for images like this hand-drawn parrot by Gary Vaynerchuck.

Gary Vanerchuck MFT

Like, who has that kind of cash and will this really appreciate in value?

Regardless of my misgivings, there’s very clearly significant opportunity here, which could spark whole new engagement and growth opportunities in social apps.

Socialmediatoday.com

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Josh Brolin Summarizes Dune 2 in Greatest Instagram Caption of All Time

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Josh Brolin Summarizes Dune 2 in Greatest Instagram Caption of All Time

The Dune: Part Two star took a unique approach to marketing the movie. Dune: Part Two is so close to hitting theaters, and no one is more excited than …

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Reddit’s Exclusive Data Sharing Deal with an Unnamed AI Company Could Mark a Key Industry Shift

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Reddit’s Exclusive Data Sharing Deal with an Unnamed AI Company Could Mark a Key Industry Shift

Is Reddit’s actually data worth $60 million per year?

That’s reportedly how much an as-yet-unnamed AI development company has paid to gain exclusive access to Reddit’s full data set, which will see said AI company incorporate Reddit user responses into its large language model (LLM), with a view to the system providing more human-like answers and insight, and becoming a bigger challenger in online search.

As reported by Bloomberg, after working to restrict access to its data over the last year, in order to stop AI companies from profiting off its content, Reddit has now signed an exclusive contract with “an unnamed large AI company”, which will see that company integrate Reddit insights into its models.

Which is a high price tag, considering that the top tier of X’s API access (200 million posts per month) costs around $2.5 million per year.

So could Reddit’s data be worth significantly more than that, and if it is, does it then make sense for Reddit to provide such on an exclusive basis?

The value of Reddit data is that it provides actual, human usage insight, which can often be of more value than online reviews that can be gamed and skewed by paid responses. That’s getting even worse in the age of generative AI, with some companies now employing AI tools to create human-sounding reviews online, in order to boost their product ratings.

As a result, more and more people have been turning to Reddit to get honest product reviews and performance insight. They’re still using Google, but more people are using the “site:reddit.com” qualifier to glean more specific insights from Reddit communities.

For example, if you were looking for a new hair dryer, you can look up “best hair dryer” on Google to get this:

Or you can add “best hair dryer site:reddit.com” for this:

Google example

The Reddit forum links connect through to actual people’s experiences, and include solid, functional insight from those who’ve used each device. The Reddit responses are also up and downvoted, making it easier to find the best response to guide your search process.

The more specific, personal insight can add significant value to the answers provided, and many people have found that this is now a better, more valuable discovery process than trusting Google results within themselves.

And now, one AI company will get all of this insight exclusively to itself.

That could be a big boost to its business ambitions, with a view to making AI chatbots more of a rival for traditional search behavior. Already, more people are turning to conversational chatbots for online discovery, and with this, whichever LLM can access Reddit data will have an exclusive trove of valuable consumer insights, which it can repackage within its responses.

For example, using the same hair dryer prompt in ChatGPT, the system currently gives me a listing of technical considerations and recommendations based on top sellers. But with added Reddit commentary, it could also provide a more personalized addendum:

“According to users, the best hair dryer for curly hair is the Ella Bella Ionic hair dryer, while those with straight hair tend to prefer the Dyson Supersonic.”

The system could then provide more specific answers based on your requirements, by sourcing that info from subreddit communities.

It’s a significant value-add, which will make whichever company gets this info a far more viable option as a search consideration, though the $60 million per year ongoing price tag is high, and is also at least somewhat reliant on Reddit continuing to grow, in order to maximize its value and utility.

And Reddit is growing. Reddit’s added 20 million more users over the past three years, and it continues to see strong engagement in over 100,000 active communities. The company’s been working to highlight its business value, ahead of a planned IPO, which could come next month, and this deal will now be factored into the valuation of the platform moving forward.

In some ways, it’s possible that Reddit could be limiting its opportunities by signing an exclusive data contract. But that’s why the price tag is so high, and it’ll be interesting to see which chatbot comes out with “Reddit exclusive insights” as a value add sometime soon.

I mean, it seems likely that it’ll be OpenAI, with the backing of Microsoft, as it looks to take on Google’s Search dominance. With the rise of conversational searches, that does seem like a logical investment, and with another data source taken out of the mix, that could also lead to more differentiation in the market.

It could also point to similar exclusivity deals in future, as each company tries to differentiate and dominate with their chatbot tools. Current AI chatbots have been able to scrape vast amounts of data from across the web, which means that their initial models will all be relatively similar as a result, but in future, as information evolves, and new data is required to match search intent, fresh sources will also be required to maintain relevance, and audience interest.

Meta claims to have an advantage in this respect, because it has all of the insights published to Facebook and Instagram to work with, while Elon Musk will view xAI as holding a lead, due to his platform being the leading real-time news discussion app.

But maybe, considering broader trends, Reddit insight is actually the real leader in terms of refining search queries.

And maybe, that will prove to be more important than most think.  



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EU launches probe into TikTok over child protection

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The European Commission said it launched formal infringement proceedings against TikTok over the protection of minors online

The European Commission said it launched formal infringement proceedings against TikTok over the protection of minors online – Copyright AFP KARIM JAAFAR

Raziye Akkoc

The EU on Monday announced a formal investigation into TikTok over alleged breaches of its obligations to protect minors online, under a landmark new law on policing digital content.

It is the second probe into a major online platform since Brussels introduced the Digital Services Act (DSA), after targeting tech billionaire Elon Musk’s X in December.

Brussels is particularly concerned that the video-sharing app owned by China’s ByteDance may not be doing enough to address negative impacts on young people.

A key worry is the so-called “rabbit hole” effect — which occurs when users are fed related content based on an algorithm, in some cases leading to more dangerous content.

The European Commission’s concerns also include TikTok’s age verification tools, which it said “may not be reasonable, proportionate and effective”.

The commission opened “formal proceedings to assess whether TikTok may have breached” the DSA in other areas including “advertising transparency” and “data access for researchers”.

The action comes after analysing a risk assessment report by TikTok and its replies to Brussels’ requests for more information about what measures the video-sharing platform has taken against illegal content, the protection of minors and access to data.

– ‘Spare no effort’ –

Regulators will continue to gather evidence, the commission said, adding that the move empowered it to take further enforcement steps if necessary.

“As a platform that reaches millions of children and teenagers, TikTok must fully comply with the DSA and has a particular role to play in the protection of minors online,” said the EU’s internal market commissioner, Thierry Breton.

“We are launching this formal infringement proceeding today to ensure that proportionate action is taken to protect the physical and emotional well-being of young Europeans. We must spare no effort to protect our children,” Breton added.

TikTok has over 142 million monthly users across the EU, up from 125 million last year.

“TikTok needs to take a close look at the services they offer and carefully consider the risks that they pose to their users — young as well as old,” commission executive vice president Margrethe Vestager said.

The formal probe will focus on four areas: how TikTok assesses and mitigates systemic risks; how the company is complying with protecting minors’ privacy and safety; TikTok’s measures on providing a “reliable” advertisement repository and the steps taken to increase transparency.

TikTok said it was working to protect minors online.

“TikTok has pioneered features and settings to protect teens and keep under 13s off the platform, issues the whole industry is grappling with,” a TikTok spokesperson said.

“We’ll continue to work with experts and industry to keep young people on TikTok safe, and look forward to now having the opportunity to explain this work in detail to the Commission.”

– Risk of fines –

There is no deadline for the completion of the proceedings.

The DSA gives Brussels the power to levy heavy fines, with penalties for violations that can include fines going up to six percent of a digital firm’s global revenues.

The commission can even block platforms in the 27-nation bloc for serious and repeated violations.

The EU law came into effect last year for the world’s biggest online platforms including TikTok and X as well as Facebook and Instagram.

The new rules demand companies do more to police content online, but also expect digital retailers to act swiftly and effectively to protect shoppers online.

The DSA law has applied to all platforms since February 17.

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