Twitter has had transaction-related projects under development, in the past, but none of them came to fruition. Musk, however, sees them as a major revenue vehicle. Musk reportedly told Twitter’s employees that “the payments side of things will probably be more valuable than all the rest of Twitter combined.” Whether those plans involve only fiat currency transactions, solely crypto tokens, or both, remains to be seen.
Ever since he took over Twitter’s new CEO, Musk has floated a variety of ambitious plans. Among them is allowing longer, higher-resolution video uploads. Musk is reportedly targeting the video-centric social media landscape, one that is dominated by the likes of TikTok, YouTube, and Instagram. And to achieve that, Musk is even willing to pay content creators up to a 10% higher fee compared to what they make from rival platforms.
Paywalled videos are another project that Musk reportedly sees as a potent way for creators to make a living off of Twitter. Musk is also hoping to boost Twitter’s core communications appeal. To achieve that, he has reportedly greenlit encrypted direct messaging.
Plus, there are also plans of enabling voice and video calls directly on Twitter, all of which will be encrypted. All these tricks reek of premium features, and given Musk’s enthusiasm for monetization, they will most likely be pushed beyond the Twitter Blue subscription paywall, which just might allow crypto payments in the near future.