Monday, May 27, 2024
RSS

X is reportedly selling usernames and handles for $50,000

Did you know that X, the struggling social media platform, is reportedly selling usernames and handles for a whopping $50,000? In an effort to make more money and retain users, CEO Elon Musk is resorting to selling off unused account handles. According to emails obtained by Forbes, a team called @Handle is building a marketplace for the purchase of usernames left unused by their original registrants. In some cases, these handles come with a flat fee of $50,000. This move comes after Musk’s previous statements about addressing unused accounts and freeing up the name space on the platform. While the selling of usernames goes against X’s terms of service, there is an established black market for handles.

X is reportedly selling usernames and handles for $50,000

X is reportedly selling usernames and handles for $50,000

This image is property of images.unsplash.com.

Buy Your Username Now!

Background

As X struggles to make money and retain users, CEO Elon Musk is trying to balance his bottom line by selling off unused account handles. According to emails obtained by Forbes, a team called @Handle is building a marketplace for the purchase of usernames left unused by the people who originally registered them. And how much do they cost? In some cases, Forbes reports, a flat fee of $50,000. The emails reviewed by Forbes were sent from active X employees and were not published in their entirety to protect the anonymity of their recipients.

The Marketplace for Unused Usernames

The selling of usernames has been against the platform’s terms of service since it was known as Twitter, though there is an established black market for handles. As of publication time, a help article on the X Help Center still read, “Username squatting is prohibited by the X Rules… We will not release squatted usernames except in cases of trademark infringement… Attempts to sell, buy, or solicit other forms of payment in exchange for usernames are also violations and may result in permanent account suspension.” However, with X reportedly selling usernames and handles for $50,000, it seems that the platform is now actively participating in the sale of these unused account names.

X is reportedly selling usernames and handles for $50,000

Get Your Handle For $50,000

Cost of Unused Usernames

The high cost of $50,000 for unused usernames reflects the value placed on these handles in the marketplace. With X struggling to make money, this move to sell off unused account handles can be seen as an attempt to generate revenue. While it may seem like a steep price to pay for an account name, it is likely that there are individuals and businesses willing to invest in these usernames for various reasons, such as brand recognition or personal identity.

Source of Information

The information regarding X selling usernames and handles for $50,000 comes from emails obtained by Forbes. These emails were sent by active X employees and were not published in their entirety to protect the anonymity of the recipients. While the authenticity of these emails cannot be independently verified, Forbes is a reputable source of news and has provided valuable insights into the tech industry in the past.

X is reportedly selling usernames and handles for $50,000

Oct. 2022 – Musk’s Announcement

In October 2022, just a few days after acquiring the platform, Elon Musk addressed the issue of unused accounts. In a post, Musk stated that he was “definitely” going to address the issue of unused accounts. This announcement laid the foundation for the subsequent developments regarding the selling of usernames and handles by X.

Nov. 2022 – Aim to Start Freeing Unused Handles

In November 2022, Elon Musk announced his aim to start freeing up unused handles the following month. This tweet indicated that X was planning to take action to address the large number of inactive accounts and make these usernames available for others to use. It was clear that Musk was committed to implementing changes on the platform to optimize its user base.

X is reportedly selling usernames and handles for $50,000

This image is property of helios-i.mashable.com.

Dec. 2022 – Name Space of 1.5 Billion Accounts

On December 9, 2022, Elon Musk tweeted that Twitter would soon start freeing the name space of 1.5 billion accounts. This tweet further confirmed X’s intentions to make unused usernames available for others by releasing them from inactive accounts. The scale of 1.5 billion accounts highlights the vast potential for new usernames to become available to the marketplace.

May 2023 – Purging Inactive Accounts

In May 2023, Elon Musk tweeted that X had begun purging accounts that had no activity for several years. This action was aimed at reducing the number of inactive accounts and freeing up usernames associated with them. However, this move raised concerns among some users who requested that X spare the inactive accounts of deceased account holders. It is important for X to consider the ethical implications and sensitivity surrounding the deletion of accounts belonging to deceased users.

X is reportedly selling usernames and handles for $50,000

This image is property of images.unsplash.com.

Platform’s Terms of Service

The selling of usernames has been prohibited by the platform’s terms of service since it was known as Twitter. The X Help Center explicitly stated that username squatting is not allowed and attempts to sell or buy usernames are violations that may result in permanent account suspension. However, the reported selling of usernames by X for $50,000 indicates a shift in the platform’s policies. It remains to be seen how X will address these policy changes and how users will react to this new development.

Established Black Market

Even though the selling of usernames has been against the platform’s terms of service, an established black market for handles has existed for some time. This black market has catered to individuals and businesses looking to acquire specific usernames that are in high demand or have significant brand value. The emergence of X’s own marketplace for the purchase of unused usernames may disrupt this black market and provide a legitimate avenue for individuals and businesses to acquire desired usernames.

In conclusion, the reported selling of usernames and handles by X for $50,000 signifies a significant shift in the platform’s approach to unused account names. With CEO Elon Musk taking steps to free up inactive accounts and actively sell these usernames, X is exploring new avenues to generate revenue and optimize its user base. While this move raises ethical and policy concerns, it also opens up opportunities for individuals and businesses to acquire coveted usernames. The establishment of a marketplace for unused usernames may also disrupt the existing black market for handles. It will be interesting to see how X continues to navigate this issue and how users respond to these developments.

Purchase Your Desired Username!

Source: https://mashable.com/article/x-twitter-user-names-and-handles-marketplace