Since Eron Musk acquired Twitter for $44 billion last fall, Twitter has transformed at an astounding rate.
First, he laid off about half of its 7,500 staff to cut costs, then implemented premium services.
It also renamed the social network from Twitter to X and began sharing advertising revenue with contributors.
And just recently, the company obtained licenses to transact and settle virtual currency transactions in seven states, including Rhode Island.
This effectively allows X to offer a virtual currency wallet service.
In addition, X invested in XBIRD Cryptopayments, Inc. and has finally started creating social media including blockchain-based payments, which he advocates in his autobiography to be released on January 12.
When he made the acquisition, Elon Musk declared to the market that he would revolutionize social networking, and he has done exactly what he said he would do.
And now the details of the token that is the centerpiece of this great revolution have been revealed.
The token includes the following
Payment for virtual currency premium services on X.
Users can pay for premium services at half price by paying for premium services with XBIRD coins.
Users can also receive advertising revenue in XBIRD tokens.
In addition, users will be able to receive dividends based on the number of XBIRD tokens they hold.
In other words, advertising revenue, which until now could only be received by posting, will now also be distributed to investors who hold XBIRD coins.
This means that by posting on X, users will receive monthly ad revenue in XBIRD tokens, and if they continue to hold these coins without selling them, they will also receive a dividend for holding XBIRD tokens.
X also announced that it will burn 10% of the revenue received from premium services and virtual currency transfers on a quarterly basis.
The token’s development team is said to include the developers of DogeCoin, who have stated that the XBIRDcoin’s impact on the market will be the largest this year.
Despite initial skepticism as to why Elon Musk would spend $44 billion to acquire the loss-making Twitter, he is literally revolutionizing the social networking site.
In particular, the fact that he will receive dividends from advertising revenues by owning X has attracted the attention of investors, and several funds have already pledged to invest as much as $100 million in the company once the private sale begins.
Tesla’s stock has increased 126 times in the 13 years since it went public, and the market’s expectations are high for how many millionaires will be created by the next revolution of the Millionaire Maker, which turned an investor with only $10,000 into a Millionaire.