Twitter's real intention for Tip Jar is not crypto! Musk: Creators will have ad revenue sharing, the return of X.com

The cryptocurrency community favors the social media platform Twitter, which is undergoing continuous reforms under the leadership of Elon Musk, with a focus on "increasing profits." Musk stated on the 4th that "post creators will have ad revenue sharing." Many indications show that the introduction of cryptocurrency payment services on Twitter, which the crypto community is anticipating, is not the primary goal.

Enabling YouTube Ad Revenue?

Elon Musk stated that Twitter will distribute revenue to creators whose tweets contain ads, but this will be limited to verified accounts with the blue checkmark.

While Musk did not provide specific details, inserting ads into content may resemble the ad revenue mechanism on the video platform YouTube. The introduction of this mechanism may encourage more diverse content from Twitter creators and help monetize existing content, a move supported by many crypto KOLs.

Renowned scientist Lex Fridman also expressed support, believing this to be a significant event that could lead to more quality content rather than divisive soap operas.

Super App: Twitter Explores Payment Services

According to a recent report by the Financial Times, Twitter has applied for payment regulatory permits in the United States to launch new business ventures. Musk has also expressed hopes for Twitter to offer fintech services such as peer-to-peer transactions, deposit accounts, and debit cards. Twitter applied for a Money Services Business (MSB) license last year and is now seeking permits from various U.S. states. In 2022, Twitter also established Twitter Payments LLC, a payment company aimed at propelling it towards becoming a payment processor.

Super App: Cryptocurrency Payments Not the Primary Focus

Following Twitter's application for a payment license, many crypto media outlets and communities speculated that this could be favorable for Dogecoin (DOGE) or other cryptocurrency payment applications.

However, Twitter's foray into payment services may have more to do with Musk's vision for X.com than cryptocurrency payments.

X.com was Musk's second startup payment company, which eventually became PayPal. Musk repurchased the X.com domain in 2017. In October 2022, he mentioned that acquiring Twitter was to drive X, an app that encompasses everything. Musk has likened this vision to "WeChat" and expressed his idea of building a super app through X.com. "X.com has a grander vision, and I think Twitter will accelerate it by three to five years," he stated.

This is Twitter's true purpose: a social platform with extensive financial services.

Currently, cryptocurrency payments are facilitated through various third-party payment processors, so Twitter does not need to bear additional compliance costs in the U.S. to become a wallet provider offering cryptocurrency payments. If cryptocurrency payments are integrated, it will likely be just one of many payment options provided by other payment processors.

Currently, Tesla only accepts Dogecoin for a few select peripheral products:

Tesla Accepts Dogecoin Payments! How many products can be purchased? What details should you pay attention to?