Elon Musk has finally taken charge of Twitter after finalizing the deal. The deal remained in jeopardy for almost 6 months when Musk backed off citing misinformation about fake Twitter accounts from the management. Now, when the platform is acquired, Musk has made a cinematic entry in the Twitter office. The deal was finalized for the original price of $44B, a price equal to dozens of F35s.
Musk Presents The Reason Behind Twitter Acquisition
Before taking the charge, Elon Musk communicated with the community using a long Twitter post in which he answered several questions.
The gist of the post is that he has bought the platform to make it better so that everyone could share ideas in a healthy environment. It is also expected that he is against the Twitter policy of lifetime suspension of accounts. Hence, the community is expecting a return of the ex-US president, Donald Trump on Twitter.
Musk has also tweeted that ‘the bird is freed’. This tweet also helps to understand the intention of Tesla’s owner. Keeping this in view, today marks a beggining of a new era for Twitter. It seems like Musk is much enthusiastic about this acquisition as he fired four senior executives on the very first day. These executives include the chief executive, general counsel, and the legal head and policy executive. According to Watch.Guru, the CEO was escorted out of the Twitter headquarters. Later, the Co-founder of Twitter acknowledged their contributions to the platform in a tweet.
Now, an overhaul of Twitter is likely on the cards to incorporate web3 components and the use of blockchain technology. Twitter will not be answerable to the Securities and Exchange Commission anymore because it will operate as a private firm now. In June, Musk also revealed that Twitter will integrate payments as well while addressing Twitter employees for the very first time.
At this time when major changes are expected from Twitter, an Ethereum co-founder has suggested that the Twitter headquarter should be shifted to Switzerland.
Twitter Announces Tweet Tiles for Non-Fungible Tokens
Amid the management changes, Twitter has rolled out a brand-new feature related to non-fungible tokens. This new feature is named Tweet Tiles which will be used to expand NFT links to marketplaces. This feature was announced in a tweet from Twitter’s developer’s official account. The social media platform, Reddit, has already unveiled a similar kind of platform which provides blockchain-based avatars.
Speaking about this move by Twitter, Mahesh Vellanki (SuperLayer Partner) has said that this move is influenced by Reddit. According to him, Elon Musk should be monitoring this type of advancement very closely and he will adopt some other ideas as well in the near future. He further added that they will use Bitcoin Lightning Network or Solana Pay to offer payment services. It is difficult to predict the timing right now but he will surely enter the digital asset ecosystem as he has already given clues about it.
