Elon Musk’s plans for Twitter look increasingly audacious. The new head of the platform revealed that, in the future, he intends to incorporate a system of digital accounts into the social network. The project’s first steps would begin with the insertion of paid videos on the microblog, which would gradually help to incorporate a movement of monetary transactions into the service.
The news was announced by Musk last Wednesday (9), when the mogul met with advertisers of the platform through Twitter Spaces. According to the billionaire, one of his major goals is to transform the social network into an “everything app”, which would also include the option to carry out monetary transactions through a digital account on the network.
The system would work similarly to what we have at PayPal today. A company that, curiously, was born from the merger between the companies Confinity and X.com – the latter a digital bank created by none other than Elon Musk himself.
Despite the expertise in the matter, the Tesla owner will have a long way to go, which should start with the launch of paid videos on the platform.
The tool, which had already been disclosed by the The Washington Postwas confirmed as one of the new focuses of the social network and, if it works out, has everything to develop the first steps of this monetary system.
Twitter joins the video market
The announced feature will allow content creators to charge for unblocking posted videos. The value of the tweet will be chosen by the creator himself, who will have the options of $1, $2, $5 or $10 to monetize them.
Thanks to this tool, creators will gradually have a cash balance on the platform, which will begin to help in establishing a system of bank accounts.
Another important consequence brought by the feature is the technological changes brought to the platform, which should focus on offering better support for videos and, naturally, bringing the application closer to tools such as TikTok and Instagram Reels.
Digital account with income
In the long term, Elon Musk’s idea is that Twitter balance money can be transferred to regular digital accounts, but also used within the platform itself. In this way, a user could transfer money to other profiles on the network and even earn bonuses from the company.
Another point raised by Musk is the possibility that, even more in the future, Twitter will implement high rates of return on the digital account. A way to attract the public that has no account balance, but would find advantages to put money in the platform system.
With debit card and even check integration, “TwitterBank” can be one of the great new steps of the platform, after the changes made to Twitter Blue🇧🇷 But, like other experiments abandoned by Musk in this short space of time, it can also be reformulated or not even get off the ground.