Meta rivals Twitter: Will the crypto community embrace Meta’s Threads?

Threads, Meta’s microblogging platform, emerged in response to Twitter’s recent difficulty with a daily post limit. The blog, which is closely related to Instagram, made its debut on July 6, 2023. Meta launched Threads on iOS and Android.

Despite the seemingly opportune timing, Threads hasn’t generated much excitement within Twitter’s crypto community. Concerns have been raised regarding data mining, privacy issues, and doubts about the app’s long-term viability. Crypto Twitter influencer Tiffany Fong, with a substantial following on Twitter but limited knowledge of Threads, expressed her lack of familiarity with the Meta alternative. Fong, however, maintains an active Instagram account with a substantial following.

In a Twitter poll conducted by crypto influencer Kyle Chassé, a significant majority of the 125 respondents, over 87%, expressed support for “Team Twitter” rather than “Team Meta.” Former Twitter CEO Jack Dorsey highlighted the Threads app’s privacy policy, which revealed that Instagram, the developer behind Threads, would have access to various user data, including financial information and identifiers. Researchers responded to Dorsey’s post, pointing out that Twitter has similar permissions and collects comparable data.

Furthermore, concerns have been raised about the app’s potential longevity, considering Meta’s history of shutting down standalone apps or integrating their features into other products. Users have expressed skepticism, citing Meta’s previous shutdown of Threads in December 2021 and its closure of another standalone app called Direct. They claim that Meta uses standalone app launches for attention and eventually incorporates their functionalities into Instagram.

Threads’ launch aligns closely with Twitter’s rate limit issue, which temporarily restricts the number of daily posts users can view. Instead of starting from scratch, Threads will import followers and following lists from Instagram users. Reports earlier this year stated that the standalone app would support ActivityPub, the decentralized social networking protocol powering Mastodon, a decentralized Twitter rival. Mastodon has experienced a surge in activity and an increase in active users since Twitter implemented its restrictions.