Traders in the crypto market enter the sector intending to make profits. This is why most traders adopt different strategies to carry out their trading activities. While most of their activities boil down to their respective strategies, there is also a tiny room for input from their crypto community. Crypto traders use their community to share trading tips, strategies, and updates that bring traders close to achieving their goals. One such app is the Discord app which allows users to build their respective communities. In this article, we will be discussing the Discord app and its recent reverse on the decision to integrate crypto wallets on the platform.
What is Discord?
Discord is a community-focused app built to allow gamers to have their unique communities for chats. Launched in 2015, the app is open to a lot of communities across the internet. The coronavirus pandemic was the major push that the platform needed as users flocked on the platform during the period. Presently, the app has more than 350 million registered users. Discord allows its users to communicate via texts, video calls, and voice calls. Users can message each other or form communities that are referred to as servers.
What is Discord Nitro?
Asides from the benefits that users can enjoy on the Discord app, the platform allows users to buy a premium service with a $9.99 charge per month. Users who subscribe to the Discord Nitro will enjoy some benefits such as unlimited upload time, animated avatars, and other cool features on the platform. Discord Nitro can also be said to be the primary way the company generates revenue on the app.
According to a report by Wall Street Journal, the platform was able to recoup $45 million and $130 million in 2019 and 2020 from the service. With this, the company has received mouth-watering investment offers from investors who want to profit from the service.
Presently, Discord’s value is around $15 billion, with the company recording a massive $500 million investment in September. With the company growing in leaps and bounds, there have been rumors that crypto companies are dictating the pace in the company. Though one cannot expressly point out the total crypto-focused servers on the platform to other servers, the CEO, Jason Citron, maintains that the company will continue to make its users happy.
Discord’s Wallet Integration And Reversal
The founder of Discord, Jason Citron, teased users regarding integrating crypto wallets on the platform. Taking to microblogging platform Twitter, Citron showed a new layout of the platform along with images of MetaMask and Wallet Connect. Before posting the tweet, the CEO created a poll on the microblogging platform Twitter. In the survey, Citron asked users if they would want the platform to have its crypto wallet.
Days after the post on Twitter, Citron clarified that the platform presently has no plans to carry out the wallet integration. In his post, he said that the developers are pulling their weight in other directions of concern on the platform. He noted that Discord developers are working tirelessly to protect their users from illicit acts like scams, spams, and fraud. He said that even though people are enjoying the massive benefits from Web3, other problems need solving.
Reasons For Wallet Integration Reversal
At this moment, nobody knows the reason behind the track back in the integration moves. However, it is possible to hang it on the massive amounts of negative feedbacks the first tweet got. It was clear that users of the platform were not buying the move and had shown their displeasure by posting negative comments on the platforms. A user said that he will let everyone who intends to sign up on the app that Discord now allows pyramid schemes. Another user tweeted that if the integration goes live, he will cancel his Nitro subscription, a tweet that garnered more than 3,000 replies to the same effect.
Although the latest tweet by Citron points to the fact that the company will not go ahead with the integration plans, most users are not convinced. According to a user, the integration should not go on because most Discord Nitro users do not support it. He went further to say that if Citron values and respects his users, he should drop any plans related to a wallet integration. Although Citron has dropped every plan to integrate a crypto wallet on the platform, for now, one cannot say what he plans for the future.