From Twitter to X How did Musk transform social media platforms into a universal application?

Musk's Social Media Revolution How Twitter Paved the Way to a Universal Application

Compiled by: Blockchain Knight

On October 27th, tech billionaire Elon Musk made an interesting acquisition. He spent $44 billion to acquire the social media platform Twitter, with the goal of turning it into a “universal app.”

A year later, BeInCrypto conducted a study on its transformation, including the brand restructuring and other changes initiated by this billionaire on the platform.

Musk made significant reforms to Twitter by implementing a subscription model that allows users to earn income by posting on the platform, and renamed it “X.”

• Brazil’s adoption rate of USDT soars, accounting for 80% of the total cryptocurrency market.
• Marquee Insurance Leads the RWA Wave Building a New Generation of On-chain Insurance System
• Cryptocurrency VC SLianGuairtan Founder How does SLianGuairtan invest in the cryptocurrency industry

Prior to Musk’s acquisition of the platform, the crypto community speculated that he would integrate a native token on the social media platform.

However, Musk has denied the possibility of the platform launching any crypto assets, stating that X will “never” develop a token.

Despite killing the dream of launching a token, Musk is still focused on transforming X into a “universal app.” According to Musk, the application will soon be integrated into comprehensive financial services.

CEO Linda Yaccarino also describes X as the future of interconnectedness, encompassing audio, video, messaging, payments, and banking. She said:

“This transformation has no limits. X will be a platform that can provide everything. Musk and I look forward to taking X worldwide with our team and all our partners.”

A year after Musk’s acquisition of Twitter, the problem of bots still persists. It’s worth mentioning that the tech billionaire openly expressed dissatisfaction with this issue before taking over.

To combat these bots, X has introduced various subscription models for users. The latest development is the introduction of a $1 subscription model called “Not A Bot,” currently being tested in New Zealand and the Philippines.

However, this move has failed to prevent the proliferation of bots and spam emails, and the platform is still grappling with these issues.

Meanwhile, the platform remains the preferred hub for discussions related to crypto assets. Influencers, CEOs, politicians, and regulators continue to interact with the crypto community through X. While the user count has declined, its reputation as a platform supporting crypto assets remains steadfast.

Prior to the Twitter acquisition, Musk was known for frequently discussing meme coins, and his posts had a significant influence on the prices of crypto assets like Dogecoin and Floki Inu.

This situation has continued even after he acquired the platform. In February of this year, he jokingly referred to his Floki Shiba Inu as the new CEO of Twitter (X).

We will continue to update Blocking; if you have any questions or suggestions, please contact us!