Social media giant Twitter is currently undergoing a significant rebranding process, changing its name to X, according to owner Elon Musk. Musk, who acquired the platform last year, made the announcement that Twitter would have a new name, logo, look, and feel on July 24. The new name, X, will also serve as the broader ecosystem platform that Musk intends to develop in the coming months.
Evidence of this rebranding effort emerged with a screenshot shared on alternative social media platform Stacker.News. The screenshot showed an email from representatives of X, informing a user who had originally registered the @X Twitter profile that the account would be taken over by the platform.
The email explained that the @X handle was now “affiliated with X Corp” and would subsequently be changed to a new user handle. The user was given the option to choose an unclaimed or inactive handle as a replacement, with their followers and following data set to be transferred to the new profile.
However, controversy arose as the email showed that the user was not offered any compensation, merely a selection of company merchandise and a visit to X’s headquarters in San Francisco as a gesture of appreciation. Cointelegraph has reached out to X to confirm the authenticity of the email.
According to a report from Mashable, it was revealed that Gene X. Hwang was the previous owner of the @X username before it was taken over. Hwang had not initially heard from the social media company following the reports of the rebranding to X.
This rebranding effort by Twitter signifies a major shift for the platform. With Musk at the helm, X aims to create an entirely new financial world in the coming months, expanding beyond its current social media functions. The decision to rebrand highlights Musk’s ambition to transform the platform into a more comprehensive ecosystem that offers a range of financial services.
Although some users may be disappointed with the lack of compensation offered for the username transition, the promise of exclusive merchandise and a visit to X’s headquarters may soften the blow for those affected. It remains to be seen how this rebranding effort will be received by the Twitter community at large and whether it will ultimately align with Musk’s vision for the platform’s future.
As the rebranding process unfolds, it is clear that Twitter, soon to be known as X, is positioning itself for an exciting new chapter. With Musk’s ambitious plans of building a broader ecosystem, it will be fascinating to witness the platform’s evolution and the potential impact it could have on the financial world in the near future.