The upcoming payment feature of X sparks speculation about integrating crypto like Dogecoin and affects content monetization.
The crypto community is excited with anticipation as X, previously known as Twitter and now rebranded under Elon Musk’s leadership, unveils a specialized account for its forthcoming payment feature. Scheduled for release in mid-2024, this development has sparked widespread discussions regarding the potential incorporation of cryptocurrencies within the platform.
X’s new payments account, though currently empty of content, has already earned a verified gold badge and an X badge, solidifying its connection to the platform. This move has generated significant interest, especially among cryptocurrency enthusiasts, who are keenly observing any indications that X might support digital currencies beyond traditional fiat.
Cryptocurrency analysts are closely monitoring the situation. Mason Versluis, a well-known crypto researcher, expressed his enthusiasm on X, hinting at the possibility of cryptocurrencies like XRP, Stellar (XLM), and XDC (XDC) being integrated into the app. This speculation is underpinned by the fact that these currencies all start with the letter ‘X,’ mirroring the platform’s name.
Dogecoin and Content Monetization
Elon Musk’s history with Dogecoin (DOGE), including its use for payments in Tesla’s merchandise store and his frequent social media mentions, has led many to believe that DOGE could be a frontrunner for integration into X’s payment system. The crypto community has been diligently piecing together subtle hints from Musk and X, pointing to a possible preference for DOGE in future ventures.
In a report from October 2023, many noticed an X post featuring a meme of a dog on a phone call, which the Dogecoin community eagerly interpreted as a cryptic signal. Such events have continually fueled the community’s expectations regarding the role of cryptocurrencies in X’s evolution.
Another angle to this evolving story is the monetization aspect. X, under Musk’s direction, has begun sharing ad revenue, enabling content creators to profit from their contributions within the app. However, Tokenicer, a crypto researcher, noted a recent shift in X’s focus, moving away from pro-crypto content. He observed a reduction in his earnings from the platform, suggesting that payments for crypto-related content might be diminishing. This variation, though, comes from the impression-based payout system used by X.