Social media platform Twetch – a Web3 competitor to X that runs on the Bitcoin SV (BSV) blockchain – was unexpectedly shut down on June 6 without notice.
Soon after, many cryptocurrency investors found themselves unable to redeem or trade non-fungible tokens (NFTs) and virtual collections. In response to an investor, the company said: “We are working on it. »
The Twetch site did not explain the reasons for its possible closure. However, as of this writing, users can still download the Twetch mobile app from the Apple and Google app stores.
Bitcoin SV was founded by Craig Wright, who has been trying to claim credit for the creation of Bitcoin (BTC) for years.
On March 14, a British court ruled that Craig Wright was not Satoshi Nakamoto, the pseudonymous creator of the Bitcoin network.
It is important to note that Josh Beatty was the CEO and founder of Twetch.com and that BSV had no connection to Wright.
Leave behind a legacy of wishful thinking
In a subsequent tweet, Twitch indicated that the social media platform may still have a future. The company aims to keep the idea of Twitch alive by opening up its code.
“We’re also seriously considering open source, so everyone can develop whatever version of Twetch they want.”
Challenges Facing Web3 Platforms
While competitors like Twetch struggle to attract a solid user base, X faces a different set of challenges.
about: CoinGecko X accounts hacked in phishing attack
Hackers on X continue to hijack prominent social media accounts to dump fake investments and cryptocurrency funds. Recently, unusual activity on the Near protocol
Several tweets came out of Near Protocol’s official X account, asking its 2 million followers to “take back your sovereignty,” among other unusual directives.
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