Rumors suggest that Elon Musk is planning to introduce a native coin of Twitter, possibly called Twitter Coin, at an appropriate time. The social media giant may use the digital coin for payments and tipping on its platform.
In a Twitter Spaces conversation early this week, he said, “It’s kind of a no brainer for Twitter to have payments, both fiat currency and crypto, and to make that easy and simple for people to use.”
At least two prominent online tech investigators revealed that they have uncovered what appears to be Twitter’s cryptocurrency, a secret project as of now. They also produced pictures of the Twitter Coin that they claimed they procured from Twitter’s web page. The coin depicts the same Twitter bird but in white, set against a coin-shaped 3D yellow background.
The rumors’ focus soon shifted to Dogecoin and there were speculations about whether Musk will junk Dogecoin or he will make Dogecoin the Twitter coin.
Twitter which faced a major exodus of advertisers from its platform since Musk took over the company has been able to get them back. Over the past two weeks, speculations ran rife over an impending clash between two Musk and Tim Cook-led Apple over Twitter.
The truce came off after Twitter on December 1 sent an incentive plan to advertising agencies which promised American companies spending an incremental $500,000 a 100% matching bonus, capped at $1 million. For other markets, the minimum incremental ad spends to claim the incentives is $250,000.
A meeting between Musk and Cook helped them clear misunderstanding and it seems Twitter and its advertisers are back to business as usual.