Elon Musk, the prominent tech tycoon and prolific tweeter, has once again captured the attention of the online world as he spearheads Twitter into an exciting new era. The social media giant is currently undergoing a remarkable transformation, bidding farewell to its avian branding and soaring ahead with a fresh identity, ‘X’, following its acquisition by Musk’s X Corp.
Musk’s Vision: Why ‘X’?
Musk, the newly minted CTO of X, took to the freshly rebranded platform to elaborate on the decision. The billionaire, who is known for his irreverent and often cryptic tweets, assured users that this transformation transcends mere nomenclature.
“Twitter made sense when it was just 140 character messages going back and forth – like birds tweeting – but now you can post almost anything, including several hours of video,” Musk tweeted.
He explained that the new name aligns better with his ambitious vision for the platform.
Elon Musk’s vision for the platform, now called ‘X’, includes comprehensive communications, finance, and payment-related services, broadening the horizons of the micro-blogging site.
Doge Tease
In a playful exchange, Musk disclosed that the team had considered, albeit jokingly, rebranding to a Shiba Inu, a dog breed popularized by the meme-inspired cryptocurrency, Dogecoin. Nevertheless, he conceded that the idea had “no impact.”
Although the doggie rebranding didn’t make the cut, the Shiba Inu still managed to grab some spotlight. Elon Musk’s endorsement of Dogecoin in his bio led to a staggering 10% surge in the cryptocurrency’s price. The 24-hour trading volume experienced an astonishing 500% increase, reflecting the fervent interest among traders. Presently, Dogecoin is trading at $0.077, a significant uptick from the 24-hour low of $0.071.
Read More: Elon Musk Triggers a Limited Dogecoin (DOGE) Price Rally; Will it Shed All the Gains?
Say Your Goodbyes to the Blue Bird
As the excitement settles surrounding this unexpected announcement, all eyes from across the globe are fixated on the future of ‘X’, the platform formerly known as Twitter. Once recognizable by its blue bird logo and short message format, the platform now stands on the brink of a dramatic shift in focus and functionality.
Source: https://coinpedia.org/news/the-crucial-reasons-behind-elon-musks-decision-to-rename-twitter-as-x/