Elon Musk Plans to Rename Twitter as X, While Crypto Twitter Proposes Alternative Concepts

Twitter, the renowned social media platform recognized for its blue bird emblem, is on the brink of a major overhaul. In an unexpected announcement, Twitter CEO Elon Musk revealed that the platform will be rebranded as “X.” This audacious choice has elicited varied responses from the crypto community and Twitter users alike.

Musk, in a series of tweets dated July 23, suggested that the transition to “X” could occur as soon as Monday. He envisions this as the initial phase in transforming Twitter into an “everything app.” Anticipated changes may involve a transition to a black color scheme and the elimination of the cherished blue bird logo, which has represented the platform for many years.

The prospective name change to “X” corresponds with Musk’s aspirations for the platform, as he founded the tech company X Corp. to serve as Twitter’s parent organization. This strategic initiative aims to develop an app similar to WeChat, consolidating various features and services into a unified platform.

Notably, Musk’s financial services startup, X.com, established in 1999 and later acquired by PayPal, now redirects to Twitter. The choice to adopt the “X” brand from a domain with historical ties to Musk adds depth to the rebranding effort.

While Musk expresses enthusiasm about the change, not all individuals within the crypto community are pleased. Twitter has been a vital hub for crypto advocates, generating over a billion crypto-related tweets from 2020 to 2022. Many have expressed their apprehensions, labeling the rebranding decision as “insane.” Trust Machines marketing chief, Dan Held, referred to Twitter as “iconic” and criticized Musk’s decision to alter it.

Although some are opposed to the concept, others have shown support for Musk’s ambition of creating a super-app. They reference Musk’s earlier tweet indicating his desire to transform Twitter into X. Nevertheless, this has not dissuaded innovative thinkers from proposing their own concepts for how the rebranded platform should function.

Jeff “Jiho” Zirlin, co-founder of Axie Infinity, proposed retaining the Twitter name while introducing a crypto wallet called “X.” This wallet would allow users to spend and tip creators on the platform, enhancing the functionality of the service.

Linda Yaccarino, Twitter’s chief, has also shared additional details regarding “X.” She disclosed that the forthcoming app would provide “unlimited interactivity,” accommodate various media formats, and integrate payment and banking capabilities. Musk’s interest in supporting cryptocurrency aligns with the notion of incorporating crypto transactions into the new app.

Furthermore, Yaccarino indicated the potential use of artificial intelligence to enhance the platform, particularly in identifying manipulation of public sentiment. This aligns with Musk’s prior comments about utilizing AI technology to foster a safer and more genuine user experience.

The rebranding initiative arrives at a moment when Twitter is encountering difficulties, with Musk acknowledging a 50% decline in advertising revenue and a substantial debt burden. However, the long-term effects of these changes remain unclear.

As Twitter prepares to say goodbye to its iconic blue bird logo, the crypto community awaits the launch of “X” with a blend of anticipation and skepticism. Only time will reveal whether this bold transformation will solidify Twitter’s status as the next-generation social media super-app.

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