X App’s Upcoming Payments Feature and Cryptocurrency Integration
Elon Musk’s innovative “everything app,” known as X, has made a significant move by launching a dedicated account for its forthcoming payments feature. This development has sparked a wave of speculation among cryptocurrency enthusiasts regarding the potential integration of digital assets. The buzz is that the X app is gearing up to introduce in-app payment services around the middle of 2024. However, there is uncertainty surrounding whether this feature will only support traditional fiat currencies or extend to include cryptocurrencies.
Although the dedicated account has not yet made any official posts, its credibility is already established with a gold badge, affirming its verification as an organization. Furthermore, the account prominently showcases the X badge, underscoring its affiliation with the X platform. Crypto researcher Mason Versluis took to X to share this news with his sizable following of 169,000 individuals. In his post, he expressed optimism about the potential incorporation of cryptocurrencies, particularly naming XRP (XRP), Stellar, and XDC (XDC) as possible candidates for inclusion on the app.
Elon Musk’s Continued Embrace of Cryptocurrencies
It is significant to note that Elon Musk has already paved the way for cryptocurrency adoption by incorporating Dogecoin for payments at Tesla’s merchandise store. He also frequently references Dogecoin (DOGE) across his social media platforms. This proactive stance has led many to speculate that Dogecoin is the frontrunner if X decides to include any cryptocurrencies within its ecosystem.
Over time, observers within the crypto community have closely monitored cues from Musk and the X platform, pointing towards a growing interest in Dogecoin for potential future projects. In a noteworthy instance from October 2023, X shared a meme featuring a dog answering a phone call, a move that triggered speculation within the Dogecoin community regarding its significance.
- Furthermore, another crypto researcher, identified as Tokenicer on X, has conveyed to his substantial following of 36,200 individuals that X appears to have shifted its focus away from crypto-related content.
- In 2023, X implemented a revenue-sharing mechanism for advertisements, enabling creators to monetize their content within the app. However, Tokenicer has observed a decline in payments for crypto content recently, citing instances where payouts have decreased from previous levels.
- Tokenicer highlighted receiving significantly lower checks in recent times compared to a few months prior, indicating a notable change in the compensation structure for cryptocurrency-related content on X.
Ever since Elon Musk’s acquisition of Twitter in April 2022, there have been persistent conjectures regarding the platform’s future trajectory. Musk’s consistent discourse over the years has fueled speculations about the potential incorporation of cryptocurrencies into Twitter. Musk himself hinted at X’s evolving role, expressing his belief that the platform will eventually offer users the ability to manage their complete financial operations.
In a related development, X has discontinued a feature that allowed premium users to utilize non-fungible token (NFT) images as their profile pictures. Initially introduced two years ago, the feature targeted Twitter Blue subscribers and enabled them to exhibit a certified NFT as their profile image.
This initiative was seen as groundbreaking within the social media landscape, showcasing the validity of NFTs at a time when other major platforms like Facebook and Instagram, under Meta’s ownership, were yet to embrace this technology. However, recent updates indicate that the option to activate this feature using the iPhone version of the Twitter app is no longer available, signaling potential shifts in X’s operational strategies.
