Pages

Twitter May Soon Hold Auction To Free Up Unused Twitter Handles For Revenue Generation

How far are you willing to go to free up the perfect Twitter handle? Well, if you’re still unaware of that answer, we’ve got news for you.

Twitter was seen speaking about ways through which it planned to free unused Twitter handles. And to be more specific, there are nearly one billion, if not more. The app says it plans on holding an auction for such handles so that would assist in its making more funds.

As mentioned by The New York Times, Twitter has actually deemed it to be a great way to get back to business as per the instructions of the app’s chief Elon Musk. Here is where engineers feel that online auctions can really allow users to make bids for certain names they were interested in.

We certainly feel that such endeavors are making more sense now than before as it’s hard to witness how the app could go about redistributing such handles in a really great and reasonable manner.

At the moment, one of the best ways to get your designated handle back is monitoring it and then jumping on the decision of purchasing when it’s for free or paid. Some apps go about monitoring specific handles, just in case that pops up. But when there are thousands competing for the same thing, it gets tough in general as there is only one username.

Bots being set up on an automated basis can really snap up the best names as it paves the way for alternative solutions and that is what gives rise to a higher chance of users getting the handle they wish for.

As it is, new Twitter chief Elon Musk is searching for ways to produce income. Last year in November, we saw him speak about an $8 scheme of Twitter for verification. Musk mentioned how the app was losing out big time on revenue that was equivalent to $4 million a day as he took over the firm. This had to do with limited intake and a huge pile of expenses.

To better this, the Twitter CEO mentioned how he would now need to rid of Twitter staff which has caused a massive reduction of nearly 75% of the headcount. Musk is trying hard to rid staff from its trust and safety team.

Musk has set out a series of plans for the platform to generate more income through other sources such as subscriptions so that it could place less emphasis on ad spending and diversify its strategy for income.

Musk may appear to be satisfied at times but there’s a constant threat of bankruptcy on his shoulders and if the app couldn’t find better ways to generate income from its massive 238 million active users, then it would certainly be in a sticky mess.

This was all worsened by the likes of Elon Musk’s certain obligations, thanks to the loans required to buy the platform.

Just last year, the expenses of Twitter were stated to be $50 million and now that new debt has been carried forward, it’s bound to increase to a staggering value of $1 billion a year.


Read next: Twitter Says There Is No Evidence That Its Users’ Data Is Being Sold By Hackers

No comments: