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Threads: Meta's Twitter Competitor Launches July 6th, Will the Crypto Community Embrace it?

By Sherry Cantwell
Jul 10, 2023
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Meta, the parent company of Instagram, is set to launch its new Twitter competitor, Threads, on July 6. The platform, closely linked to Instagram, will be available for pre-order on the Apple App Store and is expected to attract users seeking an alternative to Twitter. However, Threads has received limited publicity, particularly within the Twitter crypto community. Concerns about data mining, privacy, and the longevity of standalone apps have been raised.

Crypto influencer Tiffany Fong, with a large following on Twitter and Instagram, admitted to being unaware of Threads and expressed doubts about its viability. A Twitter poll conducted by another influencer showed that a majority of respondents favored "Team Twitter" over "Team Me  ta. " Former Twitter CEO Jack Dorsey drew attention to the privacy policy of Threads, which grants Instagram access to various user data. However, researchers pointed out that Twitter has similar permissions and collects comparable data.

There are also concerns about the app's long-term prospects, as Meta has previously shut down standalone apps like Threads and incorporated their features into other products. Users have expressed skepticism about Meta's track record and its tendency to release app s for attention before discontinuing them. Despite this, Threads plans to transfer followers and watchlists from Instagram, offering users an established network from the start. While Threads prepares for its launch, the decentralized social networking platform Mastodon has experienced increased activity as users seek alternatives to Twitter following the rate-limiting incident.

In summary, Meta is launching Threads, a Twitter competitor closely tied to Instagram, on July 6. The app has received limited publicity and raised concerns about data mining, privacy, and the longevity of standalone apps. Influencers and users have expressed doubts ab out its viability compared to Twitter. However, Threads plans to transfer users' followers and watchlists from Instagram. Meanwhile, decentralized platforms like Mastodon have seen increased activity as users explore alternatives to Twitter.

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