Following his $44 billion purchase of Twitter, Elon Musk has been making fast and furious changes to the social platform. However, those changes are unlikely to stop any time soon. The latest development is that Musk wants to set up the platform so Twitter creators can get financial compensation for their content. The news about the monetization of content on Twitter has been a hot debate in the last week. Unsurprisingly, when there is a change at the helm of any company, various aspects of the company’s structure also change. Unfortunately, this has also been the case with Twitter.
‘Kings and Peasants System’
Musk has fired some Twitter executives and changed the way users can get Twitter’s blue checkmark since he acquired the platform. Additionally, the new Twitter is set to change the way the platform rewards its content creators. Using a Twitter thread, Musk argued against what he called the “kings and peasants system” that currently exists on the platform. He, too, is committed to making healthy changes to that system. His first step was to make changes to the price of Twitter Blue. Musk justified charging a fee to those who have the blue Twitter badge. He explained that the special benefits would go to those with the badge. For example, they will get priority for their queries and see nearly 50% fewer ads than they currently see. Musk also noted that the fees would be a source of revenue for the social platform to financially compensate its content creators. When a user tweeted that rewarding creators is a massive incentive to create content, Musk responded by saying that it’s essential since creators need to make a living too.
creator payments is HUGE to incentivize content creation. love this idea 🙂—Gali (@Gfilche) November 1, 2022
While the details of the rewards system for content creators are not yet known, there is enough evidence to suggest that Musk’s content monetization for Twitter’s creator plan would happen sooner rather than later.
Musk sparks new DOGE payment speculation
In a related development, some Twitter influencers claim that Musk has confirmed speculation about the Dogecoin (DOGE) payment integration on Twitter. Musk was recently asked by a Twitter user if he had started working with developers on a doge payment integration on Twitter. Musk neither confirmed nor denied the move. Instead, Musk tweeted the eyes emoji, indicating something of interest. Meanwhile, the CEO of Ethereum, Vitalik Buterin, has shared some concerns regarding Musk’s idea of charging a monthly fee for Twitter’s blue branding. Buterin suggests that Musk’s new idea would be effective if the platform does its due diligence before allowing someone to pay their monthly fee for Twitter’s blue tick. According to the CEO of Ethereum, allowing anyone to pay and get the blue mark would destroy the anti-scam role, which was the original intention of the platform behind the blue mark delivery.
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