Twitter, the iconic social media app best 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 would be renamed “X”. This bold decision elicited 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 shifting the color scheme to black and removing 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 founded technology company X Corp. become Twitter’s parent company. This strategic step aims to create a WeChat-like application, integrating various features and services into one platform.
Interestingly, Musk’s financial services startup founded in 1999, X.com, which was later sold to PayPal, is now transitioning to Twitter. The decision to use an “X” brand from a domain with which Musk has a history adds to the significance of the rebranding.
Despite Musk’s enthusiasm about the transformation, not all members of the crypto community are happy. Twitter has become a significant hub for crypto enthusiasts, with more than one billion crypto-related tweets between 2020 and 2022. Many have voiced their concern, calling the decision to change the brand “crazy”. Trust Machines’ head of marketing, Dan Held, called Twitter “iconic” and criticized Musk’s move to change it.
While some are against the idea, others have shown support for Musk’s vision of creating a super app. They pointed to Musk’s previous tweet in which he hinted at his intention to turn Twitter into X. However, this has not prevented creative thinkers from coming up with their own ideas for how the rebranded platform should operate.
Axie Infinity co-founder, Jeff “Jiho” Zirlin, suggested sticking with the Twitter name but introducing a crypto wallet called “X.” This wallet will allow users to spend and tip platform creators, adding an interesting dimension to the platform’s functionality.
The head of Twitter, Linda Yaccarino, also provided more insight into “X”. He revealed that the upcoming app will offer “limitless interactivity”, support multiple media formats, and incorporate payment and banking features. Musk’s interest in supporting crypto goes hand in hand with the idea of integrating cryptocurrency transactions into new applications.
In addition, Yaccarino hinted at the use of artificial intelligence to drive the platform, especially in detecting manipulation of public opinion. This mirrors Musk’s previous statements about using AI technology to ensure a more secure and authentic user experience.
The rebranding decision comes at a time when Twitter is facing challenges, with Musk acknowledging a 50% drop in ad revenue and a heavy debt burden. However, the long-term impact of these changes is still uncertain.
As Twitter prepares to say goodbye to its iconic blue bird logo, the crypto community awaits the arrival of the “X” with a mix of excitement and skepticism. Only time will tell whether this bold transformation will cement Twitter’s position as the next generation of social media super app.