From Twitter to X: How Musk transformed social media into a universal app

Compilation: Blockchain Knight

On October 27 last year, tech billionaire Elon Musk made an interesting acquisition. He bought the social media platform Twitter for $44 billion, with the goal of turning it into a "one-size-fits-all app."

A year later, BeInCrypto conducted research on its transformational changes, including the rebranding and other changes initiated by the billionaire on the platform.

Musk has made a major overhaul of Twitter, implementing a subscription model that allows users to earn revenue by publishing posts on the platform and rebranding the platform to "X".

Before Musk bought the platform, the Crypto community had speculated that the billionaire would integrate a native token on the social media platform.

However, Musk has denied the possibility of launching any crypto assets on the platform, saying that X will "never" develop a token.

Despite killing the dream of launching a token, Musk is still focused on making X a "one-size-fits-all app". According to Musk, the app will soon be integrated into integrated financial services.

CEO Linda Yaccarino also describes X as the future of connectivity, including audio, video, messaging, payments and banking. She said:

"There are no limits to this transition. X will be a platform that can offer everything. Musk and I look forward to working with our team and all of our partners to bring X to the world." ”

A year after Musk bought Twitter, the bot problem persists. It is worth mentioning that the billionaire in the tech world had publicly expressed his dissatisfaction with the issue before taking over.

To combat these bots, X has launched various subscription models for its users. The latest development is the launch of a $1 subscription model called "Not A Bot", which is currently being tested in New Zealand and the Philippines.

However, the move failed to stop the proliferation of bots and spam, which the platform is still battling with these issues.

At the same time, the platform remains the go-to hub for discussions related to Crypto assets. Influencers, CEOs, politicians, and regulators all continue to use X as a platform to engage with the Crypto community. While the number of users has declined, its reputation as a platform that supports crypto assets has remained the same.

Prior to his acquisition of Twitter, Musk was known for frequently discussing meme coins, and his posts had a significant impact on the price of crypto assets such as Dogecoin and Floki Inu.

This continued until after he owned the platform, and in February of this year, he jokingly called his Floki Shiba Inu the new CEO of Twitter (X).