Twitter, the iconic social media platform with the blue bird logo, is about to undergo a major rebrand. The platform will soon change to “X”, which has kept both the crypto community and Twitter users on edge.
Twitter users and the passionate crypto community have observed a significant change on the social media platform. The iconic blue bird logo has been replaced with an “X”, a drastic change as part of a massive rebranding. However, this change does not seem to be well received by everyone in the crypto community.
On July 23, Musk indicated in a series of tweets that the platform has already been rebranded as “X,” marking an early stage in its eventual transformation into an “all-in-one app.”
The recent rebrand hints at a possible change in Twitter’s color scheme to black, replacing the familiar blue bird logo, and adopting the new name “X,” according to several Musk tweets and an accompanying survey.
Not only has the social media platform Twitter undergone a rebrand, but it also seems that the website that provides access to the platform will undergo a transformation in the near future. X.com, formerly the online location of Musk’s 1999 financial services startup — which was later sold to PayPal — could soon link to Twitter.
So far, the Wayback Machine shows that X.com is an almost empty website with just the letter “x”. Previously, the website URL led to Musk’s Boring Company. In the early 2000s, the address also referred to PayPal for a long time and even functioned as eBay’s corporate website for a time.
In March, Musk X Corp. founded, a technology company that acts as Twitter’s parent company. This venture was co-founded to realize Musk’s vision for a WeChat-like app.
Proponents and opponents
The proposed changes have clearly alarmed some of the Crypto Twitter user community. Twitter has become a fortress of the crypto community, with a plethora of crypto-related posts that, according to a March 2020 Hypebeast report, will cross the 1 billion mark by 2022.
Dan Held, head of marketing at Trust Machines, underlined Twitter’s “iconic” status and called Musk’s decision to change the name to X “bizarre.”
There was also resistance to the proposed X rebrand from other members of the community. Cryptoblogger Tiffany Fong firmly stated that she would continue to call the platform “Twitter,” a sentiment echoed by podcast host Peter McCormack.
Nevertheless, there were proponents of the idea too, arguing that the super app had been Musk’s vision for quite some time since he left PayPal. They pointed to Musk’s earlier tweet in October, indirectly suggesting that his acquisition of Twitter was the accelerator for the creation of X.
Others have offered their own ideas about how Musk should proceed with X. Jeff “Jiho” Zirlin, co-founder of Axie Infinity, argued that the Twitter name should be kept, but that a crypto wallet called X should be integrated. This would allow users to spend money and give tips to the creators of the platform.
On July 23, Twitter CEO Linda Yaccarino added more insight about X in a tweet, indicating that the upcoming app will feature “unlimited interactivity,” support for diverse media formats, and integration of payment and banking services — a feature Musk has reportedly indicated will support crypto.
However, Yaccarino did not reveal in detail how the upcoming app would be powered by artificial intelligence, although Musk previously indicated that AI would be deployed to detect public opinion manipulation.
Following a revelation by Musk on July 15, in which he acknowledged that Twitter’s ad revenue had dropped by 50% and that the company was heavily indebted, the decision to rebrand has been made. However, the exact time frame of the revenue decline has not been made public.
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