On October 27 final yr, tech billionaire Elon Musk made an fascinating acquisition. He spent $44 billion to buy the microblogging platform Twitter for $44 billion with a imaginative and prescient of turning it into an “all the pieces app.”
A yr later, BeInCrypto examines the transformative modifications, together with the rebranding and different alterations initiated by the billionaire throughout the platform.
Rebranding and Charge Introduction
Musk made a serious alteration to Twitter by implementing a subscription mannequin and rebranding the platform as ‘X.’ This determination triggered assorted responses from crypto customers, who can now generate earnings by way of their posts on the platform.
Earlier than Musk acquired the platform, the cryptocurrency group speculated that the billionaire would combine a local crypto token into the social media platform.
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Nevertheless, Musk has quashed any risk that the location will launch any cryptocurrency token, saying X will “by no means” develop a token.
The ‘Every thing App’ Dream
Regardless of killing the dream of a token launch, Musk stays focused on making X the Every thing App. Based on Musk, the app will quickly be built-in to incorporate complete monetary companies.
CEO Linda Yaccarino additionally described X as the way forward for interconnectivity, together with audio, video, messaging, funds, and banking. She mentioned:
“There’s completely no restrict to this transformation. X would be the platform that may ship, effectively….all the pieces. elonmusk and I are trying ahead to working with our groups and each single one among our companions to deliver X to the world.”
Bot Issues Persist
One yr after Musk’s acquisition, the persistent situation of bots stays. It’s price recalling that the tech billionaire vocally expressed frustration with this drawback earlier than taking on.
To fight these bots, X has launched numerous subscription fashions for its customers. The latest growth introduces a $1 subscription mannequin, aptly named “Not A Bot,” at the moment present process testing in New Zealand and the Philippines.
Nevertheless, the transfer has didn’t cease the deluge of bots and spammers because the platform continues to battle these points.
In the meantime, the platform maintains its stronghold because the go-to hub for crypto-related discussions. Influencers, CEOs, politicians, and regulators alike proceed to make use of X as a way to interact with the crypto group.
Whereas there was a decline in person numbers, its status as a pro-crypto platform stays steadfast.
Musk’s Tweet Continues to Transfer Market
Earlier than buying Twitter, Musk was identified for his frequent discussions about meme cash. His posts had a notable influence on the costs of cryptocurrencies like Dogecoin and Floki Inu.
That has continued deep into his possession of the platform, with him jokingly referring to his Floki canine as the brand new CEO of Twitter (X) in February.
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Disclaimer
In adherence to the Belief Venture tips, BeInCrypto is dedicated to unbiased, clear reporting. This information article goals to offer correct, well timed data. Nevertheless, readers are suggested to confirm details independently and seek the advice of with an expert earlier than making any selections primarily based on this content material.