Elon Musk’s Plan to Rebrand Twitter as ‘X’ Faces Resistance from Crypto Twitter Community

Twitter users and the crypto community are in for a potential transformation of the social media giant, as Elon Musk hints at rebranding the platform to “X.” In a series of tweets on July 23, Musk suggested that Twitter would undergo a significant overhaul, starting with a name change to “X” and eventually evolving into an “everything app.”

The rebranding might involve a change in Twitter’s color scheme to black and the removal of its iconic blue bird logo. The idea gained traction with the redirection of x.com, which was previously linked to Musk’s financial services startup and then to the Boring Company website, now leading to Twitter.

Musk established X Corp. as Twitter’s parent company in March, part of his vision to create a WeChat-like super-app. However, not all members of the crypto community are enthusiastic about the proposed changes. Crypto Twitter has been a stronghold for the crypto space, generating over 1 billion crypto-related tweets between 2020 and 2022.

Trust Machines marketing chief Dan Held expressed concerns, stating that Twitter was an iconic platform, and Musk’s decision to rebrand to “X” was seen as “insane.” Others, like crypto blogger Tiffany Fong, have been resistant to the idea and are determined to keep calling it Twitter.

Despite the opposition, some have supported Musk’s vision, referencing his October tweet, which implied that the Twitter purchase was an important step in realizing the creation of “X.” Suggestions have also emerged within the crypto community, such as integrating a crypto wallet called “X” on the platform to enable users to spend and tip creators.

Twitter CEO Linda Yaccarino added more details about “X” in a July 23 tweet, highlighting its “unlimited interactivity,” support for multiple media formats, and potential inclusion of payments and banking features to support crypto transactions. Yaccarino also mentioned that the upcoming app would be powered by artificial intelligence, aligning with Musk’s previous statements about utilizing AI to detect public opinion manipulation.

The rebranding comes amid Twitter’s admission of a 50% drop in advertising revenue and a heavy debt load, though the exact timeline for the revenue decline remains unknown. As the crypto community anticipates the future of Twitter’s transformation, the reactions are a mix of excitement, skepticism, and ideas for further development.

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