Twitter is going through a lot of remodeling right now, from what is obvious, "X" is now the new brand. The touted everything app that you can potentially do anything on; buy, sell, trade and so many other things.
I don't know if this is the grand scheme of things, or maybe there's still a huge box of surprises that are coming. Apparently, Musk has chosen to pay his loyal influencers who has his Twitter blue and gets up to 50M impression every month.
One thing I'll applaud here is that at least, Musk is willing to reward those who are willing to commit money, time, effort, and commitment to X.
This monetization model might create a rat race
a system where people will begin to commit more loyalty and time, provided there's money to be made.
This carrot and stick approach might have just opened the way to social media modern monetization where you don't even need to have so many followers or face earning restrictions because of geographical locations, just the power of your dedication to the network.
The ability to maintain the blue monthly payment and the potentiality of your hustle to attain 50M impressions provided you have up to 500 followers.
A lot of Nigerian creators or just regular users were Happy to be earning their first internet money. The reason why it felt even better, was because a lot of these people already had affiliate schemes that were earning them money, and having Twitter blue was just to give them more visibility.
The difference between this earning model and that of Facebook or YouTube is that this one is borderless, almost everyone can be a potential earner when they make the right move, and this alone creates additional excitement.
The man is mainly a taker, and being a giver is not in his books
The only problem I see with the borderlessness of X in terms of earnings is that there are people who will look to cheat the system.
When you look at streaming platforms, you'll see that the system is susceptible to cheating.
People who are willing to get their content to the top spot pay farming services, thereby manipulating the system and making it difficult to recognize the contents that are truly being streamed.
Say Hello To the "GAME OF FARM"
Because of the exciting new incentive of being paid on X now, we'd begin to see sophisticated farming where people will begin to target billions of impressions just to reach high earning figures.
I don't know if Elon Musk knows about this, he surely would. Although I'm not sure he cares whether impressions are fakely generated or organic, maybe numbers will just be numbers at the end of the day.
Crypto influencers are already trying schemes to generate massive impressions on their blogs, some of them deploy the open end conversations, while others just concoct fake giveaways to boost their numbers.
I basically feel that now that the money is beginning to roll in, Twitter will scale massively, more than it has, especially in the first few months when this payment system is being deployed. However, is Elon Musk ready for the outrageous numbers that will be coming in?
I don't know. One thing is sure. People now know that for 8$ a month, they wouldn't be tweeting for free anymore and this will potentially make people discover ingenious methods of earning opportunities on X.
Will this payment system be sustainable? I don't know
Elon has shown that he's a man that easily changes things, pulling the rugs from under without giving any warning. Sustainability is the biggest deal here because people will tip the scale and stretch the limit of this earning model and probably find loopholes to make money.
To be honest, your favorite web3 preacher might even change their style and scope of content to earn this new, big internet money. However, if anyone is faithfully paying for Twitter blue, then maybe..... just maybe they deserve a shot at Elon's billions.
Time Will Tell
There are lots of things that could possibly go wrong, but on the flip side, a lot of things might turn out right as well and Elon might just become the biggest thing on any social platform.
I'm not taking anything away from Elon's ingenuity. It'll take a lot to create X in Elon's image.
(X is a hideous brand name by the way) He's probably started well and created the idea that anyone from anyone, with little monetary commitment and other non-monetary commitments, can become paid for a very long time on X.
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If you have a large account with loads of engagement the Twitter monetization initiative is amazing! However, for the average account, and even above average accounts, it's pointless... it's something that will never reward them.
Exactly, I think it's even impossible for average accounts to begin to build, it might take a very long time. This is one thing about web2, it's hardly rewarding to accounts that have no standing; large following and engagement. Although this X's model isn't that bad, but it still favours big accounts.
Typical "legacy" model... rewarding the "big guys"... zero empowerment...
Well, it's web2's model, I really don't see it changing anytime soon. The idea that everyone has a chance, skyrocket's X's usage
X is such a horrible name. I laughed for minutes when I heard it.
Hive takes up all my time as it is so for a very long time, I'm sure I'll be on the sidelines,
cheeringwatching those that make the most of it and see what comes out in the end. The world of web2 daily provides entertainment everytime.It's a horrible name indeed, but Maybe because he already has the userbase and then he could do any changes to the social and brand name without being overly affected.
Those who will make the most of it will do so. It'll sure become a rat race with time.
I think the revenue model is good and will probably be copied soon by other social media platforms. It adds a new powerful incentive on why and how people should utilise the platform. Perhaps, quality content will increase but just like you've said, users will game the system to double dip on the rewards. It's bordelessness is a good selling point for users in other countries apart from the west.
It's true that for once, social media monetization will not longer be jaded because of the problem of geographical location, but in I'm still worried about it's sustainability, seeing that Elon is an erratic man, and people will look to game the system. I still think at the end big users are the one's that'll profit the most.
I have never been active in twitter. The little attention I give twitter has been possible because of hive. Now reading this update from you big Joe, nkem will start building her account oo 😂, that money must be made biko..lol
I don't know how long it will take me anyway but at least I can give it a try
..
Haha be reminded though that you have to pay 8$ every month and it might take you years to build the traction that'll at least give you 200M impression per month, plus other terms and conditions.
Hmmmm
Sounds like it will be a tedious job 😃
This is why I prefer web 3 biko 😂
I am also not a fan of twitter, and cannot also be a fan of X. but with the fact that people maybe able to make money from it, I trust people would find a way to (cheat the system) farm just like how you have said.
Hahaha Elon Musk will be surprised at what might be coming. Truth is that when money is involved, it changes the system and everything changes. I'm not a fan too, but I'm majorly there, just to promote hive man.
Nice! let's give hive the promotion that it deserves
This is interesting article, as the debate has prompted between different centralised social media, i see X taking position as time goes on but it will be like more of competition by then, giving more preveledges to the masses to take advantage
X seemed to have opened the door to this different kind of monetization, I just have mixed feelings towards this. Obviously I like the fact that anyone can earn, but gaming the system and sustainability are two major concerns.
Yes... that's cool dear friend
It will be interesting to see if the in-built monetization comes to facebook as well. Would be massive if they made it available for all users and not just top creators.
I think Facebook monetization already sucks, personally I feel that this type of monetization might never be adopted by meta and even if it was, then it'll still be difficult to make it available to everyone. I think it'll only be accessible to top users and not everyone.
I am not surprised that people are trying to game the system and earn as much as they can. So I think Elon will build some guidelines for people to be rewarded if there are enough issues. I just don't know if the people he left in charge will really do anything though.
Well, let's see how Elon will find ways to protect the system from being gamed by exploiters. I think he's opened the floodgates, and now people will no longer want to have fun, everything will be tailored at attempts to cash out big. It's going to be dramatic on Twitter soon
I'm not much of a Twitter person but I believe Elon musk would bring dynamic to the space and app, he's X has begun rewarding users and definitely, there will be more commitment even if it's just for the reward. X could mean unknown in mathematics, perhaps like you said, he'll being a lot of changes that people are not aware of.
Sustainability and porosity may actually be the challenge, we can ride along or see where it all ends.
Thank you for enlightening me this morning
As for X, I think the changes are coming in too fast, but one thing is for sure, some certain accounts and userbase will earn a lot of money from this X ad initiative, while other accounts will just add up to the numbers and help other people earn.
latitudes will affect a lot, albeit indirectly. $70 is somewhere a lot somewhere nothing ..specifically in my country it is one working day .In an average job.
I don't know if you mean 70$ is a sort of earning prerequisite for some places, but I think some people earned up to 1000$ the previous month.
payment for one working day.
somewhere they live on it for a whole month. money is relative depending on the area. that's what I think.
I don't know how the earning scheme works, but it's true some region will earn higher than the other.
The battle is getting fiercely as day goes by
It is
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It is certain that people will cheat on this one but it will also help some people but in the end only time will tell how everything will play out.
I will rather stick to my hive and make the little I can
The thing with twitter/x is that it is still controlled (centralized) they only selected certain individuals and top celebrities to take part of this first. I don’t think an average person will have decent earnings compared to what hive / leo threads can offer.
It seems as though he is going the YouTube model rather than Facebook/Meta and I think that is the right way to go. There is still a long road ahead but incentivizing creators directly is huge.