Musk has revealed his vision of making Twitter 2.0 an “everything app” that combines several services.
A slide from a presentation he gave at Twitter, titled “The Everything App,” included two subheadings: entertainment advertising and video advertising.
Slides from my Twitter company talk pic.twitter.com/8LLXrwylta
— Elon Musk (@elonmusk) November 27, 2022
The plan for Twitter
Previously, Musk said that buying Twitter would be an “acceleration” towards making X, the all-in-one app where people could socialize, make payments, and even shop. Twitter’s overall performance was also shown in other slides from Musk’s presentation.
The presentation showed that new user signups and active minutes were at a record high, and Impersonations spiked and then plummeted due to Twitter’s pay-for-verification program.
The plan he envisioned for pay-for-verification, however, backfired, causing chaos online as fake accounts masquerading as celebrities and companies began appearing.
It is now reported that the plan will be launched on December 2 in light of the confusion surrounding its rollout, which was originally set for November 29.
A gold tick will be assigned to companies, a gray check will be assigned to governments, and a blue check will be assigned to individuals to avoid confusion.
Trigger Dogecoin Price
The announcement by billionaire entrepreneur Elon Musk, creator of Twitter 2.0 – “The Everything App” – fueled a short-lived 19.4% price spike for meme-inspired cryptocurrency Dogecoin (DOGE).
The fact that Musk did not mention Dogecoin in the tweet or in the attached slides did not appear to deter some investors from expecting Dogecoin to be involved in some way.
The Dogecoin (DOGE) price increased 19.4% over several hours from $0.089 to $0.107 after the tweet before settling at $0.096.
A co-founder of the Swiss blockchain software company Jelurida, Lior Yaffe, told Cointelegraph recently that Musk should not integrate Dogecoin on Twitter, even if Musk wanted to.
“Even if they do manage to build a payment system around Twitter, there are much better blockchain solutions than Dogecoin to choose from with regards to security, privacy, smart contracts and scaling,” Yaffe said.