Thursday, 18 July 2024

Why is Elon Musk’s X now offering for-sale account handles

  • It has been reported that “X” has started a new initiative to sell user accounts.
  • For a one-time fee of $50,000, these accounts are available.
  • X had already begun purging inactive accounts from its platform in May.

It has been reported that “X,” the tech company owned by billionaire Elon Musk, has started a new initiative to sell user accounts that are no longer necessary. For a one-time fee of $50,000, these accounts are available.

Elon Musk first announced in November 2022 that he thought it would be a good idea to restore accounts that had been compromised by “bots and trolls.” This action comes after his initial announcement.

Elon Musk’s X

One of Musk’s supporters proposed the idea of a “Handle Marketplace” where users could sell their unused accounts to buyer interest. It looks like the “@Handle Team,” an X team, is currently working on developing this marketplace where account names that were initially registered but are currently being held by their owners can be purchased.

X has contacted prospective buyers, according to emails Forbes was able to obtain, asking for a fixed fee of $50,000 to begin the purchase process. The organization has updated its policies, procedures, and related costs concerning these account transactions.

Regarding this purported development, neither X nor Elon Musk have made an official statement. Elon Musk reportedly wanted to release a significant amount of usernames shortly—possibly as many as 1.5 billion—according to earlier reports.

X had already begun purging inactive accounts from its platform in May. It is noteworthy that X is currently valued at $19 billion, less than half of the $44 billion Musk paid for the social media network only a year ago.

According to X’s CEO, Linda Yaccarino, the business plans to turn a profit by the beginning of 2024. She added that about 1,700 advertisers have returned to the platform, which now has 200–250 million daily active users.

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