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Elon Musk to Rebrand Twitter to X, but Crypto Twitter Has Other Ideas

Twitter, the iconic social media app known for its blue bird logo, is on the verge of a significant transformation. In a surprising move, Twitter CEO Elon Musk recently announced that the platform will be rebranded as “X.” This bold decision has stirred up mixed reactions within the crypto community and among Twitter users.

Musk, in a series of tweets on July 23, hinted that the rebranding to “X” could happen as early as Monday. He sees this as the first step towards turning Twitter into an “everything app.” The changes may include a shift in the color scheme to black and the removal of the beloved blue bird logo, which has been synonymous with the platform for years.

The potential name change to “X” aligns with Musk’s vision for the platform, as he established the tech firm X Corp. to be Twitter’s parent company. This strategic move aims to create a WeChat-like app, integrating multiple features and services into a single platform.

Interestingly, Musk’s 1999-founded financial services start-up, X.com, which was later sold to PayPal, now redirects to Twitter. The decision to use the “X” brand from a domain that has a history with Musk adds significance to the rebranding.

Despite Musk’s enthusiasm about the transformation, not all members of the crypto community are thrilled. Twitter has been a significant hub for crypto enthusiasts, with over a billion crypto-related tweets between 2020 and 2022. Many have voiced their concerns, calling the rebrand decision “insane.” Trust Machines marketing chief, Dan Held, went as far as calling Twitter “iconic” and criticized Musk’s move to change it.

While some are resistant to the idea, others have shown support for Musk’s vision of creating a super-app. They point to Musk’s earlier tweet where he hinted at his intention to turn Twitter into X. However, this has not deterred creative minds from pitching their own ideas on how the rebranded platform should operate.

Axie Infinity co-founder, Jeff “Jiho” Zirlin, suggested keeping the Twitter name but introducing a crypto wallet called “X.” This wallet would enable users to spend and tip platform creators, adding an exciting dimension to the platform’s functionality.

Twitter’s chief, Linda Yaccarino, has also provided more insights into “X.” She revealed that the upcoming app would offer “unlimited interactivity,” support various media formats, and incorporate payment and banking features. Musk’s interest in supporting crypto aligns with the idea of integrating cryptocurrency transactions into the new app.

Additionally, Yaccarino hinted at the use of artificial intelligence to power the platform, especially in detecting manipulation of public opinion. This reflects Musk’s previous statements about employing AI technology to ensure a safer and more authentic user experience.

The rebranding decision comes at a time when Twitter faces challenges, with Musk admitting a 50% drop in advertising revenue and a heavy debt load. However, the long-term impact of these changes remains uncertain.

As Twitter prepares to bid farewell to its iconic blue bird logo, the crypto community awaits the arrival of “X” with a mix of excitement and skepticism. Only time will tell if this daring transformation will cement Twitter’s position as the next-generation social media super-app.

 

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