(SONY), Microsoft Corporation (NASDAQ: MSFT) – You May Have a Different Profile Picture in Every Discord: Why Change Matters to NFT’s Growth

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Discord users are faced with the difficult decision of selecting a profile picture and a nickname. This photo and nickname will be used on all Discords that a person is a member of.

Discord has announced a change in this practice, but it comes at a cost.

What happened: Discord announced that Nitro users can select a unique avatar for each server they are on and change their nickname on each server.

Users can select “change nickname” and “edit server profile” in each Discord.

The new feature will only be available to members of Nitro, the subscription plan offered by Discord. Nitro costs $ 9.99 per month or $ 99.99 per year for the new functionality and other perks like server increase. A cheaper Nitro Classic subscription costs $ 4.99 per month or $ 49.99 per year.

Discord also announced that it will begin rolling out scheduled events. By scheduling future events, the belief is that communities will have more time to promote and raise awareness.

Related Link: Discord Secures Minority Investment From Rival Sony After Rejecting Microsoft Offer

Why this is important: Discord is a free text, audio, and video social platform launched in 2015 that relied heavily on video game communities.

The platform has grown and is now used by video game communities, stock trading groups, and non-fungible token projects.

The ability to change a profile picture could be a huge win in supporting the growth of NFTs. Many NFTs are considered PFPs or profile pictures. Many users who own multiple NFTs face the difficult decision of creating their profile picture or their Discord profile on other social media platforms.

Many users may be willing to shell out the monthly fee to show their NFTs in different communities.

Scheduled events could help Discord compete with people like Club house and Twitter spaces in a push for communities to have a voice with their members to ask me anything, open microphones and interviews.

Discord raised $ 500 million in a recent funding round that valued the company at $ 15 billion. The company has investments of Sony Corp (NYSE: SONY), Greylock, Spark Capital, Benchmark and Tencent Holdings (Rose: TCEHY). Discord also turned down a $ 10 billion takeover offer from Microsoft Corporation (NASDAQ: MSFT).

The company had 140 million users in December 2020, double the total from the previous year. Discord achieved $ 230 million in revenue in 2020, up from $ 45 million in 2019.

The new features for Nitro members could be a way to support the growth of communities and also increase Discord’s revenue, which could help when the company decides it’s time to go public.

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.


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