In a surprising move, Elon Musk’s revolutionary “everything app,” X (formerly Twitter), has recently unveiled a dedicated account, heightening speculation within the crypto community about the imminent introduction of cryptocurrency-related features.
Insiders suggest that the X app will introduce in-app payment services by mid-2024. There are speculations on whether this feature will support cryptocurrencies.
While the dedicated account for the upcoming payments feature has yet to make any posts, it boasts a coveted gold badge, signifying its status as a verified organization. Furthermore, the account is adorned with the distinctive X badge, hinting at its affiliation with the overarching X platform.
In a recent X post, crypto analyst Mason Versluis shared his excitement about the potential inclusion of cryptocurrencies starting with the letter “X” on the app. Notable mentions include XRP, XLM, and XDC. Elon Musk’s embrace of Dogecoin for payments at Tesla’s merchandise store has also fueled speculation, with many considering it the most likely candidate for inclusion on the X platform.
Elon Musk’s Cryptic Trail
A deeper dive into Musk and X’s history reveals subtle hints and clues that suggest a particular interest in Dogecoin. In October 2023, X posted a meme featuring a dog answering a phone call, prompting the Dogecoin community to engage in decoding its hidden meaning.
Contrary to the crypto buzz, another crypto researcher, Tokenicer, shared that X may be shifting its focus away from crypto-friendly content. In the year 2023, X introduced a profit-sharing mechanism for advertisements, enabling creators to monetize their content on the platform. Tokenicer alleges that X has, of late, diminished compensations for cryptocurrency-related content, pointing to a personal encounter of markedly reduced payouts compared to prior months.
Tokenicer noted, “Feels like X has cut the payments for crypto content lately. I was getting $40-70 cheques a few months ago & just got one for $16.” However, it’s crucial to recognize that the payout system is contingent on the total impressions that content creators accumulate, leading to variations in earnings over different periods.
Since Elon Musk acquired Twitter in April 2022, speculation has run rife about the platform’s transformation into an entirely new entity and the potential integration of crypto. Musk’s consistent commentary over the years only adds to the intrigue surrounding the future trajectory of X and its role in the crypto landscape.