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Twitter CEO Agrawal Sees 'Incredible Amount of Developer Energy' in Web3

Twitter's newly minted CEO had praise for the Web3 and broader crypto community on Twitter's Q4 earnings call.

2 min read
Crypto Twitter

Newly minted Twitter CEO Parag Agrawal spoke about Web3 on today's Twitter Q4 earnings call, Agrawal's first earnings call as CEO since he took over for the outgoing Jack Dorsey at the end of November.

In response to a question submitted via Twitter, Agrawal said, "If you think about the broader crypto ecosystem, which includes cryptocurrency, DeFi projects, and all the decentralized technology and applications being built on top of the biggest blockchains, what you notice is this incredible amount of developer energy—developer energy which is interested in solving problems."

Agrawal added that this energy creates an opportunity for Twitter, which he described as "the place where this entire ecosystem goes to find out about what's happening across the ecosystem."

Parag Agrawal was previously Twitter's CTO. When he was named CEO, a person with knowledge of the executive's reputation inside Twitter told Decrypt, "Parag has been integral to Bluesky (the decentralized protocol project), so safe to say he's a crypto believer."

Agrawal’s comments come a few weeks after Twitter launched NFT profile picture verification for some iPhone users using NFT marketplace OpenSea’s API. The verified NFT PFPs display with a hexagon around them. When people tap on it, they can see all the information about the NFT collection.

The initiative has received mixed response. NFT critics grew even louder about the problems they see with NFTs, while many NFT advocates believe the move could bring NFTs mainstream.

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