Since Elon Musk’s acquisition of Twitter, there has been a chilly wind within Twitter. As soon as Musk took over Twitter, he kicked out all existing executives and board members, including former CEO Farag Agrawal, and fired 3,700 employees en masse. The laid-off employees were reportedly notified of their dismissal via email without hearing specific reasons.
Musk’s spillover is not just internal. In his move to turn Twitter into a pro-blockchain form, the market price of cryptocurrency Dojcoin has risen more than 100% in recent weeks. This is due to the expectation that Doji Coin will be used as a new payment method on Twitter.
Dodgecoin is also well known as the cryptocurrency chosen by Elon Musk. Musk currently allows Dogecoin as a payment method for Tesla and SpaceX, and in April, when he acquired a portion of his stake, he said, “We will use Dogecoin as a payment method for Twitter Blue subscriptions.”
Twitter Blue is a premium service launched in June last year that offers features such as tweet cancellation, account support, ad removal, and NFT.
I wonder what the profit model of Twitter, whose owner has changed, will look like. In response, the mayor says Musk will turn Twitter into a “blockchain super app.”
“Considering Musk’s sale of his first company to PayPal, we can assume that he can turn Twitter into a ‘super app’.” said Kathy Wood, founder of Arc Investment. His prediction is that he will be able to shop within Twitter and perform banking tasks such as loans.
In fact, Musk praised Tencent’s super app “WeChat” to Twitter employees, and said last month, “We will accelerate the acquisition of Twitter to create all applications.” Considering this, there is a strong tendency in the market that Musk is likely to achieve his dream of becoming a super app on Twitter. And Musk shows his ambition to achieve this through a “blockchain.”
Elon Musk’s Twitter renovation plan, which has been talked about so far, can be viewed in the following aspects: First, borrowing fake accounts. Second, freedom of speech. Third, the introduction of a cryptocurrency payment system.
