Twitter is looking to increase the number of users and ensure that old subscribers continue to use the platform. Twitter's financial resources currently prevent it from covering the expenses of the loans that Elon Musk took to cover the Twitter acquisition, whose revenues apparently cannot generate interest.
All Twitter projects since the completion of the deal were to reduce expenses and increase revenues, which does not seem to be working successfully so far.
Topic: Twitter could launch in-app ‘coins’ to help creators make money (Read 307 times)
January 15, 2023, 08:58:10 AM
One thing that I thought of when I read the proposed monetization mechanism is this move is kind of similar to what TikTok has already done. On TikTok, there is a thing called a Tiktok Gift Point where users can reward the content creators. The idea is similar to what Twitter proposes. I don't know if Reddit is the pioneer to make this kind of move, but it seems social media will thrive with this kind of program as one of the ways of monetization schemes.
It will be interesting to see how it will affect the Twitter platform as a whole, do we will see more "signals" being created on the platform or just a bunch of "noises" from creators that fool the monetization scheme?
It will be interesting to see how it will affect the Twitter platform as a whole, do we will see more "signals" being created on the platform or just a bunch of "noises" from creators that fool the monetization scheme?
January 15, 2023, 07:22:36 AM
So "coins" is targeting blue twitter users (cmiiw) who have been charged a subscription fee for the last few months? This sounds like a benefit exchange, if you're willing to be loyal you'll get some special privileges.
Btw, what's up with "twitter tips", a feature that until recently was unreachable for users on low spec devices? Coming to this thought, I'm not sure that "coins" feature will also reach all users.
Btw, what's up with "twitter tips", a feature that until recently was unreachable for users on low spec devices? Coming to this thought, I'm not sure that "coins" feature will also reach all users.
January 15, 2023, 06:52:44 AM
Again, why?
Tell me the advantages of Twitter integrating Doge into this rather than an inbuild centralized currency.
And do so from Twitter's perspective, not from the doge bagholder one!
Tell me the advantages of Twitter integrating Doge into this rather than an inbuild centralized currency.
And do so from Twitter's perspective, not from the doge bagholder one!
Simple answer - Elon. He usually goes about things in a way that ends up stirring the pot up and/or bringing visibility to anything he feels involved with.
P.S. I hold a total of 0 Dogecoin.
January 15, 2023, 04:12:28 AM
Musk seems to be obsessed with coins and tokens. He went from Bitcoin to Doge, from Doge to his own coin projects etc. I mean, why does one need to reinvent the wheel? Just use Bitcoin or Lightning ffs. He's just not really happy he can't control Bitcoin I guess.
I don't think he is sad either. I don't think he ever thought for a second that he would control Bitcoin, he should be smarter than that. One thing that you should understand is that Elon Musk is a business man, and he would only do what is good for business, and mind you that there is a big difference between a supposed endorsement tweet and an actual integration into a business.Having said that, Elon Musk can tweet/endorse/say whatever he likes about Bitcoin, Doge or any other crypto/token, but he would only integrate into his business what he can control and what would make him the most money, that is how business men do, and that is what Elon has just done/would continue to do.
If Elon Musk was prolly a Bitcoin maximalist, then he might have considered using Bitcoin/LN for this, only because he would seek to promote Bitcoin through doing that, but he is not a Bitcoin maximalist, so creating his own in-app coin is definitely what favors him and his platform.
January 15, 2023, 03:42:12 AM
Quote
The app is also working on "awards" that can be purchased with coins.
It seems Elon Musk’s Twitter is working on a new scheme to make money from the platform. The service appears to be experimenting with an in-app currency called “coins” meant to help creators earn money from the platform, according to screenshots shared by two app researchers.
The feature has been spotted in recent days by Jane Manchun Wong and Nima Owji, app researchers who often publish images of unreleased features. According to their posts, coins appear to be an extension of Twitter’s existing tipping feature. “Coins allow you to support creators who Tweet great content,” reads a screenshot shared by Wong and Owji. An image shared by Owji back in December showed a new “Coins” tab in the same section where users can keep track of their tips.
For now, it’s unclear exactly what Twitter’s plans are for coins or when the feature could launch. The company, which no longer employs communications staff, didn’t immediately respond to a request for comment. But the screenshots suggest Twitter is at least considering featuring coins prominently in its app as both Wong and Owji spotted it in the main sidebar.
But coins may not be just for tipping. Wong also spotted an “Awards” feature, which allows people to use coins to buy in-app gifts for others. According to the image shared by Wong, users would be able to buy gifts for as little as one coin (called “Mind Blown”) or as much as 5000 (called “Gold”). It’s not clear how much coins will cost, though Twitter would presumably get a cut of revenue generated from coin purchases.
So far, Elon Musk doesn’t seem to have publicly weighed in on coins or awards, but he has spoken broadly about wanting more ways for creators to be rewarded. He’s said that Twitter Blue revenue would potentially “give Twitter a revenue stream to reward content creators” and that “creator monetization for all forms of content” is also in the works.
It’s also worth noting that despite the “coins’ moniker, the feature doesn’t seem to have any cryptocurrency tie-ins, at least for now. “Twitter Coin is still under development and we don't even have any evidence that it's something related to crypto,” Owji noted. “Don’t let the scammers fool you.”
https://www.yahoo.com/lifestyle/twitter-coins-awards-creators-210326649.html
It seems Elon Musk’s Twitter is working on a new scheme to make money from the platform. The service appears to be experimenting with an in-app currency called “coins” meant to help creators earn money from the platform, according to screenshots shared by two app researchers.
The feature has been spotted in recent days by Jane Manchun Wong and Nima Owji, app researchers who often publish images of unreleased features. According to their posts, coins appear to be an extension of Twitter’s existing tipping feature. “Coins allow you to support creators who Tweet great content,” reads a screenshot shared by Wong and Owji. An image shared by Owji back in December showed a new “Coins” tab in the same section where users can keep track of their tips.
For now, it’s unclear exactly what Twitter’s plans are for coins or when the feature could launch. The company, which no longer employs communications staff, didn’t immediately respond to a request for comment. But the screenshots suggest Twitter is at least considering featuring coins prominently in its app as both Wong and Owji spotted it in the main sidebar.
But coins may not be just for tipping. Wong also spotted an “Awards” feature, which allows people to use coins to buy in-app gifts for others. According to the image shared by Wong, users would be able to buy gifts for as little as one coin (called “Mind Blown”) or as much as 5000 (called “Gold”). It’s not clear how much coins will cost, though Twitter would presumably get a cut of revenue generated from coin purchases.
So far, Elon Musk doesn’t seem to have publicly weighed in on coins or awards, but he has spoken broadly about wanting more ways for creators to be rewarded. He’s said that Twitter Blue revenue would potentially “give Twitter a revenue stream to reward content creators” and that “creator monetization for all forms of content” is also in the works.
It’s also worth noting that despite the “coins’ moniker, the feature doesn’t seem to have any cryptocurrency tie-ins, at least for now. “Twitter Coin is still under development and we don't even have any evidence that it's something related to crypto,” Owji noted. “Don’t let the scammers fool you.”
https://www.yahoo.com/lifestyle/twitter-coins-awards-creators-210326649.html
....
Aside from youtube ad revenue has there been a social media platform offering the following features?:
Quote
He’s said that Twitter Blue revenue would potentially “give Twitter a revenue stream to reward content creators” and that “creator monetization for all forms of content” is also in the works.
I'm interested as to how they propose to deploy content creation revenue given the text limit along with limitations on server video bandwidth. Could image based memes could be considered approved content?
Could they conceivable payout decent revenue based on end users publishing a few sentences of text? Could that disrupt the freelance writing market where some authors are paid by number of words published?
They're reporting twitters proposed internal currency coins feature will not be crypto based. Which is interesting development. I think most of us expected dogecoin support. Or something similar. There have been a few previous leaks that this was coming. Although unfortunately the sources were apparently deleted before anything more than a few unconfirmed screen caps could be recorded.
While twitter's launch of a watered down version of facebook's proposed diem and libracoin projects might not be the most exciting headline anyone has seen. Perhaps this could be a step in the right direction?
Musk seems to be obsessed with coins and tokens. He went from Bitcoin to Doge, from Doge to his own coin projects etc. I mean, why does one need to reinvent the wheel? Just use Bitcoin or Lightning ffs. He's just not really happy he can't control Bitcoin I guess.
January 15, 2023, 02:18:52 AM
yes, that's right, let's see what happens next. We better not trust the elites. They only care about money. there is no name in their dictionary, caring for others. Including elon. many people might want to worship him like a free speech savior on twitter, but in the end all elites are the same.
Making money is action. saving money is a behavior. Growing money is knowledge.
Everyone should not immediately blame others because basically everyone is working for himself and enriching himself with the capabilities of the capital he has so there is clearly no savior here. So if you already understand how to do business in this life by continuing to work without listening to other people's words that you may not need, then do it. Apply the best possible focus to achieve your goals so that what you want to produce can be realized in a not so long time. Making money is action. saving money is a behavior. Growing money is knowledge.
January 15, 2023, 12:59:21 AM
Everything he is doing is for his own benefits. He want to force us to start paying for Twitter through the idea of freedom of speech which many of us knows that this is going to make him more richer than what he his now. Elon musk is a wise man and he knows how to manipulate his ways to get what he wants.
I would not be surprised if he finally great a coin for Twitter where he is going to monetize to make more money for himself because all the drama we had been seeing is for a reason. Let's watch out on how everything will go.
yes, that's right, let's see what happens next. We better not trust the elites. They only care about money. there is no name in their dictionary, caring for others. Including elon. many people might want to worship him like a free speech savior on twitter, but in the end all elites are the same.I would not be surprised if he finally great a coin for Twitter where he is going to monetize to make more money for himself because all the drama we had been seeing is for a reason. Let's watch out on how everything will go.
Making money is action. saving money is a behavior. Growing money is knowledge.
January 14, 2023, 09:50:02 PM
Elon is searching for ways to get revenue out of Twitter, basically I expect Twitter to implement something similar to the coins of Reddit, he will take advantage of people being willing to spend money on coins to get in-app gifts to their favorite starts, influencers and content creators.
As soon as I read this news some days ago I knew this had nothing to do with Bitcoin or any other crypto currency, he over paid for Twitter and now needs people to spend, wants money to flow in.
As soon as I read this news some days ago I knew this had nothing to do with Bitcoin or any other crypto currency, he over paid for Twitter and now needs people to spend, wants money to flow in.
January 14, 2023, 06:53:04 PM
Elon Musk is doing a great job with Twitter, but it's a work in progress. will it be like STEEM? we have had decentralized Social Media for many years now. $STEEM owns SteemIt until JS "buys" STEEM. The community then forked, and moved everything over to $HIVE.
So.... Elon drops Dogecoin?
Everything he is doing is for his own benefits. He want to force us to start paying for Twitter through the idea of freedom of speech which many of us knows that this is going to make him more richer than what he his now. Elon musk is a wise man and he knows how to manipulate his ways to get what he wants.So.... Elon drops Dogecoin?
I would not be surprised if he finally great a coin for Twitter where he is going to monetize to make more money for himself because all the drama we had been seeing is for a reason. Let's watch out on how everything will go.
January 14, 2023, 04:25:21 PM
Looks like Twitter has copied the idea from Reddit and who knows how many other places, it's definitely not a new or inspirational idea. Elon is scrambling around trying to collect pennies while he overspent much more on the acquisition because of his own fragile ego and wanting to be the center of attention. I'm glad to see that his wealth has imploded after all his disastrous mistakes and just goes to show that he is definitely more lucky (being able to take advantage of companies with many other creative people who actually deliver the projects) than smart. I have a feeling that these sort of charms and rewards will do little to plug the huge holes, along with the massive reputation damage he has done to it as a relatively responsible platform so far.
It's true that the idea of an in-app currency for content creators is not a new concept, as it has been implemented by other platforms such as Reddit. It's also possible that Twitter's proposed internal currency feature, is a copycat of those other platforms. It's not clear yet, how the proposed internal currency feature will be implemented and how much revenue it will generate for content creators. It could also have implications on the freelance writing market, as authors may not be able to monetize longer text-based posts. 
January 14, 2023, 02:18:52 PM
Elon Musk is doing a great job with Twitter, but it's a work in progress. will it be like STEEM? we have had decentralized Social Media for many years now. $STEEM owns SteemIt until JS "buys" STEEM. The community then forked, and moved everything over to $HIVE.
So.... Elon drops Dogecoin?
Everything he is doing is for his own benefits. He want to force us to start paying for Twitter through the idea of freedom of speech which many of us knows that this is going to make him more richer than what he his now. Elon musk is a wise man and he knows how to manipulate his ways to get what he wants.So.... Elon drops Dogecoin?
I would not be surprised if he finally great a coin for Twitter where he is going to monetize to make more money for himself because all the drama we had been seeing is for a reason. Let's watch out on how everything will go.
January 14, 2023, 02:10:47 PM
Elon Musk is doing a great job with Twitter, but it's a work in progress. will it be like STEEM? we have had decentralized Social Media for many years now. $STEEM owns SteemIt until JS "buys" STEEM. The community then forked, and moved everything over to $HIVE.
So.... Elon drops Dogecoin?
So.... Elon drops Dogecoin?
January 14, 2023, 12:01:05 PM
Quote
They're reporting twitters proposed internal currency coins feature will not be crypto based. Which is interesting development. I think most of us expected dogecoin support. Or something similar. There have been a few previous leaks that this was coming. Although unfortunately the sources were apparently deleted before anything more than a few unconfirmed screen caps could be recorded.
It's neither interesting nor surprising to see they are not going to use the doge or crypto coins for the payment purpose because it's "we" who want to see everything digitalised with the crypto currencies. We are into crypto all the time and thats we think it should have been the crypto taking the payment processor place. But the question is why? Just why that matters considering twitter is not even closely related to the crypto neither it is the agenda for them to think about it.
Just because Elon is involved into it does not mean we need doge dream come true!
January 14, 2023, 08:08:44 AM
What does this have to do with freelance writing? Freelance writers get hired to write texts for someone. Twitter is just a microblogging platform. It's a completely different field.
Well, let's say that freelance writers are paid $0.05 per word written on average.
The limited word and character restrictions of twitter restrict long form content.
Which could significantly raise the revenue writers are paid per word.
It doesn't work like that, Twitter users are not going to get paid at a fixed rate and nobody is going to use Twitter for writing essays it's gain the main reason this platform and its character limit count exists when doing freelance work as a writer your skills and price come first, with Twitter the first thing and the second and the third and so on will be followers and interactions count. One meme will probably earn more than 1000 pages about any historic event or economic model!
Freelancers don't care about the traffic the platform that pays them has as it's not their business, with this, you will care first about traffic as no matter how good you are at writing if you're not attracting followers you won't make a penny!
Extremely weird there's no mention of Doge,
Again, why?
Tell me the advantages of Twitter integrating Doge into this rather than an inbuild centralized currency.
And do so from Twitter's perspective, not from the doge bagholder one!
January 13, 2023, 06:13:36 PM
The $8 a month subscriber fee might limit some from making thousands of accounts.
Twitter is still free to use, the $8 subscription is for the blue checkmark. And this blue checkmark gives privileges like higher priority for replies, so it's actually very attractive for someone who runs bots. Countries that casually dump millions of dollars for social media manipulation can easily afford thousands of "verified" bots.
Which could significantly raise the revenue writers are paid per word.
If a tweet contains 5 words and earns $20, that comes out to $4 per word. Even if it were a fraction of that amount, it still be a lot more than most writers are paid on average on a word per word basis. To be successful, I think twitter has to pay more cash per word to make the feature attractive due to their ban of long form content found on medium for example.
Which could result in many authors and writers targeting twitter as a source for revenue. Knowing they might be paid significantly more, per word, by using the platform.
If a tweet contains 5 words and earns $20, that comes out to $4 per word. Even if it were a fraction of that amount, it still be a lot more than most writers are paid on average on a word per word basis. To be successful, I think twitter has to pay more cash per word to make the feature attractive due to their ban of long form content found on medium for example.
Which could result in many authors and writers targeting twitter as a source for revenue. Knowing they might be paid significantly more, per word, by using the platform.
Freelance writers get hired to write texts, from a few hundred words to many thousands. Twitter is not hiring any writers, any sort of content monetization is based on the auditory that a creator can attract. It's a completely different thing from freelance writing, and a freelance writer can't just suddenly switch to being a "Twitter writer", because they lack brand.
January 13, 2023, 01:59:57 PM
I'm interested as to how they propose to deploy content creation revenue given the text limit along with limitations on server video bandwidth. Could image based memes could be considered approved content?
Could they conceivable payout decent revenue based on end users publishing a few sentences of text? Could that disrupt the freelance writing market where some authors are paid by number of words published?
They're reporting twitters proposed internal currency coins feature will not be crypto based. Which is interesting development. I think most of us expected dogecoin support. Or something similar. There have been a few previous leaks that this was coming. Although unfortunately the sources were apparently deleted before anything more than a few unconfirmed screen caps could be recorded.
While twitter's launch of a watered down version of facebook's proposed diem and libracoin projects might not be the most exciting headline anyone has seen. Perhaps this could be a step in the right direction?
Could they conceivable payout decent revenue based on end users publishing a few sentences of text? Could that disrupt the freelance writing market where some authors are paid by number of words published?
They're reporting twitters proposed internal currency coins feature will not be crypto based. Which is interesting development. I think most of us expected dogecoin support. Or something similar. There have been a few previous leaks that this was coming. Although unfortunately the sources were apparently deleted before anything more than a few unconfirmed screen caps could be recorded.
While twitter's launch of a watered down version of facebook's proposed diem and libracoin projects might not be the most exciting headline anyone has seen. Perhaps this could be a step in the right direction?
Looks like Twitter has copied the idea from Reddit and who knows how many other places, it's definitely not a new or inspirational idea. Elon is scrambling around trying to collect pennies while he overspent much more on the acquisition because of his own fragile ego and wanting to be the center of attention. I'm glad to see that his wealth has imploded after all his disastrous mistakes and just goes to show that he is definitely more lucky (being able to take advantage of companies with many other creative people who actually deliver the projects) than smart. I have a feeling that these sort of charms and rewards will do little to plug the huge holes, along with the massive reputation damage he has done to it as a relatively responsible platform so far.
January 13, 2023, 12:57:40 PM
Well, obviously people will like these systems use right now there are many people who are active on Twitter and posting or sharing tweets without earning anything directly so they have to advertise some products to earn some money for the posts they write or the tweets they share even of the Twitter page is very famous they can even earn more, now if Twitter creates systems for content creators and they start earning money directly for their activity there will be even more interest on Twitter from the people who are looking for a way to make money.
January 13, 2023, 12:57:21 PM
Extremely weird there's no mention of Doge, but on the other hand, maybe it would be a bit too obvious and could lead to backlash/bad press from the mainstream side of things.
January 13, 2023, 12:39:11 PM
Coins for in-app gifts sounds like something that Musk would do. So people pay real money to get in-app money, and creators, instead of monetizing their content, get to use the in-ap money for in-app gifts. Lovely. Maybe it will be different and creators will be able to get the money they are entitled to (because the audience is buying the coins to support the creators, not Elon Musk), or maybe it will be another idea that never gets implemented. Or maybe, just maybe, creators will actually get their financial support. In any case, the currency could have easily been Bitcoin or some other crypto like Musk's beloved Dogecoin, but apparently, they need to invent a bicycle again to ensure they have full control of it.
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