Twitter Reportedly Plans to Launch In-App Coins
Which can be spent on gifts.
With Elon Musk revealing that the company was losing $4 million USD a day in November and Fidelity recently lowering its valuation by 56 percent, Twitter continues to experiment with new ways to cut costs and monetize its platform to both find alternative forms of revenue and reward top content creators. Joining ambitious plans such as Twitter Blue, the social media giant may now introduce an in-app currency.
Appearing as gold coins with Twitter logos, the platform’s new Awards system teased by software developer Jane Wong looks to be much like that of Reddit‘s with fun gifts such as “Mind Blown,” Bullseye,” and “Rose,” as well as bronze, silver, and gold trophies. Found on the main sidebar, Awards looks to build off Twitter’s existing tipping feature. The new program arrives following Musk’s comments hinting at plans for “creator monetization for all forms of content,” which looks to be partially funded by Twitter Blue revenue.
There’s no confirmation yet on when the features will launch or the pricing for the coins. Stay tuned for more
Here’s the list of Twitter Awards: https://t.co/PpgHebBWD6 pic.twitter.com/BePDVAkzhy
— Jane Manchun Wong (@wongmjane) January 5, 2023
Elsewhere in tech, OpenAI opens a waitlist for the premium tier of ChatGPT.