Twitter has acquired Vine, a mobile app that allows you to create and upload 6-second, continuously looping videos to Twitter for dissemination. While no one is sure how popular the app will be (sure, it may be one of the most popular in the Apple app store right now, but so was Facebook Poke and we all know how that turned out…), we can make the following predictions:

1. Expect to start reading a lot of bad Vine-themed puns. “Twisted Vine”, “Facebook Cut the Vine”, “Vine Swings to the Top”, “Twitter Heard it Through the Grapevine, And its Just About to Lose its Mind” (Ok, we made that last one up).

2. This is an app made with the marketer at heart. Twitter’s already experimenting with ways to display these short videos in informative but non-irritating ways. Vine videos have already proven they can actually relay enjoyable and useful information (check out this cool video of a man making steak tartar in six seconds). So if your business is looking for new, non-invasive, easily shareable ads, Vine may be the way to go.

3. This will change Twitter. Twitter has always been about social media at its barest bones. You can share links, send messages, follow people, and that’s it. Now that the site offers embeddable video, the entire user experience will change. Will people like a more powerful Twitter? Will this be the first step on Twitter’s road to its own Myspace-style debacle? Time will tell.

4. Cue the social media Wars! Twitter blocked Instagram almost two months ago, after it was acquired and exploited by Facebook. Now, Facebook has retaliated by blocking Facebook sharing on Vine. Both sides are well funded, popular, and are currently creating master strategies for total victory. Let the battle commence!

UPDATE 1-28-13 11:22AM: People are already doing crazy stuff with Vine videos. Vinepeek, which isn’t affiliated with Vine or Twitter in any way, actually lets you spy on strangers’ lives in real time, and quickly became the hottest site on the internet over the weekend.