The tech tycoon Elon Musk plans to turn X, the social media platform that he owns, which was previously known as Twitter, into a platform that will enable its users to use it for their financial requirements as well. As per the latest reports, this feature will be available on the platform from next year onwards.
Musk was talking in an interview with The Verge. Reportedly, he said that by payments he means the entire financial life of the user. He continued that if life involves money then it would be on his platform. He further said that it does need to be necessary money; it can be their securities or whatever is related to finance in their lives. He added that he was not talking about sending 20 US dollars to a reminder or that kind of thing but rather he was mentioning that the user can use their X account as a bank account and that an X user would not even need another bank account.
This plan comes in association with another earlier plan that Musk had when he rebranded the entire platform. He had said that his ambition was to make X, the Everything app.
Will There Be a Crypto Token Launch?
As of the present reports, it is assumed that Musk does have plans to roll out the new features soon, but there have been no talks of any kind of token launch plans. It is estimated that this would not involve the launch of any crypto token.
Let us look at what changes have happened to Twitter after Elon Musk bought it as it has been one year since the billion-dollar deal was signed.
What Really Happened To X, Since It Became X? The Key Changes
Musk Rebanded Twitter as X.
- A beta version for audio/video calling was launched.
- The liver streaming quality was enhanced.
- An ad revenue share program was introduced for the creators of the platform.
- The payment to the creators increased and became twice a month.
- A total amount of approximately 20 million US dollars was awarded to the creators.
- Since last June, creators have had 10x.
- The avenger time invented in the communities grew by 300%.
- The number of monthly active users is now nearly approximately 550 million.
- Per day approximately 500 million posts are posted in X.
Per day impressions are approx 100 billion, more than that.
- 4% increase in the sign-ups since last year (1.5 million, approx).
- The average time that users spend in X increases to 14 % more.
- Massive advertiser return to X, about 90% of the top 100 returned.
- Video views increased by 90% in comparison to last year.
- Certified organizations now have a jobs/recruitment feature.
- A new all-time high in user seconds.
- Now group chats can have up to 200 members.
Launch of X Pro.
- Circles features announced to disappear.
- Ads revenue sharing was lowered from 15M to 5M.
- Vertical video ads for brands.
- Pic-in-pic features for the video were introduced on the web.
- The live stream appeared on the top bar of the feed.
- Immersive video player launch.
- Reporting a post is now easier than before.
- Introduced job cards for verified organizations in their recruitment feature.
- Removed headings from links.
- X can now do group calls.
X Blue was renamed as X Premium.
- Block feature removed except for DMs.
- Money transmission license secured for X payments in multiple states.
- You can now hide likes in X.
The key features are more than this. Also, look at the latest updates of X!
X now has badges for verified organizations and multiple organization affiliates. It has restored free speech and removed censorship. There are fewer scam accounts now and you can also hide the blue checkmark. These are only a very few of the changes in X since Elon Musk made it his own.