One proposal from Axie Infinity’s co-founder suggests retaining the name “Twitter” but introducing a separate crypto wallet called “X” for spending and tipping creators. The social media app might undergo significant changes, including replacing its iconic blue bird logo with an “X,” as part of a major rebranding effort.
However, the crypto community, especially those active on Crypto Twitter, has not been entirely enthusiastic about some of these changes.
Elon Musk, in a series of tweets on July 23, hinted at the possibility of rebranding the platform to “X” as an initial step towards transforming it into an “everything app.”
According to Musk’s tweets and a poll, the rebranding process might involve a shift in Twitter’s color scheme to black, the elimination of the blue bird logo, and adopting the name “X.” These potential changes could reshape the familiar social media app into a new and distinct version.
Musk has confirmed that the website used to access the social media platform might also undergo changes. As of now, X.com, which was the online address for his financial services start-up founded in 1999 and later sold to PayPal, now redirects to Twitter.
Before this redirection, X.com used to be a mostly empty website, simply displaying the letter “x.” At different points in the past, it redirected to Musk’s Boring Company website, PayPal, and even displayed eBay’s corporate site. In March, Musk established X Corp. as Twitter’s parent company, partly to realize his vision for a WeChat-like app.
Twitter’s Rebranding Faces Intense Criticism from Crypto Community
However, the proposed changes have not generated much enthusiasm among Crypto Twitter users. Twitter has been a significant platform for the crypto community, with a staggering 1 billion tweets about crypto recorded between 2020 and 2022, as reported by Hypebeast in March.
Trust Machines marketing chief, Dan Held, expressed that Twitter holds an iconic status, and he considered Musk’s decision to rebrand it as “insane” to X. Others have also shown resistance to the proposed rebrand. Crypto blogger Tiffany Fong mentioned that she will still refer to it as “Twitter,” and this sentiment was echoed by podcast host Peter McCormack. Nonetheless, there were some individuals who supported the idea, believing that the creation of a super-app like X has been Musk’s vision since he left PayPal. They pointed to Musk’s October tweet that hinted at his Twitter acquisition being a catalyst for X’s development.
Various individuals have also offered their own suggestions on how Musk should proceed with X. Jeff “Jiho” Zirlin, co-founder of Axie Infinity, proposed retaining the Twitter name while integrating a crypto wallet called X, enabling users to spend and tip platform creators. Additionally, in a post on July 23, Twitter chief Linda Yaccarino provided more insights about X, mentioning features such as “unlimited interactivity,” support for multiple media formats, and the inclusion of payments and banking—something Musk reportedly desires to support crypto.
Although Yaccarino didn’t specify the technical details, she hinted that the upcoming app would be powered by artificial intelligence. Musk had previously expressed the use of AI for detecting public opinion manipulation. The rebranding decision comes amid Musk’s acknowledgment on July 15 that Twitter’s advertising revenue had declined by 50%, and the company was dealing with a substantial debt load, although the timeframe of the revenue drop remains undisclosed.