Just-In: Elon Musk Unveils New Twitter Feature That Could Benefit Crypto Influencers

Elon Musk's recent announcement of a new Twitter initiative will enable content creators to earn money for their contributions.
By Pratik Bhuyan
April 29, 2023 Updated April 29, 2023
bons
bons
elon musk

Twitter CEO Elon Musk has disclosed yet another innovative initiative aimed at improving Twitter’s profitability and helping content creators on the network. This new plan is an addition to the expanding list of unconventional implementations that Twitter is using to improve its user experience and promote free speech. As a result of this change, content creators on the micro-blogging platform — such as crypto influencers — are now able to earn incentives for the contributions they make to the site.

Musk Unveils Subscription Feature

Twitter’s most recent modification, which emphasizes user-focused enhancements, intends to improve follower engagement and develop new revenue streams on the site by enabling people all over the world to monetize different kinds of tweets. Twitter users now have the opportunity to charge a monthly fee to their followers by using the newly launched “Subscriptions” feature. Users can choose one of the price points that Twitter has established for this service and once the payment has been processed, subscribers are granted access to the creator’s exclusive content, which is hidden from the view of the general public.

advertisement

The new effort has garnered positive acclaim from crypto influencers, who might utilize the tool to publish critical fundamental or technical analyses on digital assets like tokens and NFTs, as well as relay key information relating to the world of cryptocurrencies. Moreover, Twitter will not charge a dime and instead direct all earnings to such creators. In a response to the official tweet, the 51-year-old DOGE evangelist was quoted as saying:

All proceeds go to content creators, we keep nothing.

Read More: Hong Kong Sets Sight On Stablecoins, Considers Them As National Threat

Elon Musk Ushers New Change

Since Musk took control of Twitter, the company has implemented a number of significant changes in an effort to transform itself into a profitable business. These changes include the implementation of widespread layoffs as well as the launch of the Twitter Blue subscription service. However, Musk saw it as a critical revenue stream for the company, even though many people who had already been verified on Twitter opposed the request to pay a monthly fee in order to get a blue checkmark on their profiles.

In related news, Musk discussed forthcoming improvements to the messaging protocol used by Twitter. Musk highlighted the introduction of encrypted direct messages in addition to other messaging system changes that are scheduled to take place in the following week. In addition to this, Twitter is working on a feature that would enable media publishers to charge users for individual articles with the simple click of a button. This is intended to allow customers who do not wish to commit on a monthly subscription and instead pay a certain price per article for occasional reading.

Musk went on to say that this new development “should be a major win-win for both media organizations and the public.”

Also Read: U.S. SEC Runs Down Another Crypto Firm, Imposes Hefty $4M Fine

Pratik has been a crypto evangelist since 2016 & been through almost all that crypto has to offer. Be it the ICO boom, bear markets of 2018, Bitcoin halving to till now - he has seen it all.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

Next Story