- Elon Musk says Twitter blue will be available to users on a subscription of $8 a month.
- IOHK’s Charles Hoskinson soon reacted to the tweet in agreement with Musk’s move.
- Buterin questions the authenticity of people on Twitter.
The new CEO of Twitter, Elon Musk, has just confirmed that he is scrapping out the criteria system of the blue checkmark and making it available for the masses on subscription bases for merely $8 a month. IOHK’s Charles Hoskinson soon reacted to the tweet in agreement with Musk’s move.
More than half a billion a year in revenue just from this one move. Second, yes it makes total sense. It solves a ton of issues. Just add DIDs for verified tweets https://t.co/jnaOl2iieS— Charles Hoskinson (@IOHK_Charles) November 1, 2022
Hoskinson believes that the move will help Musk generate annual revenue of over half a million dollars. Furthermore, doing so will solve a lot of fuss around the criteria of getting verified, etc. The IOHK founder further added that adding a Digital IDentity (DID) for verified tweets would be necessary.
On the contrary, the Ethereum founder Vitalik Buterin believes that Musk’s idea of putting a price tag on verification tag could damage the blue check’s anti-scam role.
Buterin exclaimed:
How well this works depends on exactly how much due diligence is done to make sure blue checks are who they say they are. Pay $8/month and call yourself whatever would damage the blue check’s anti-scam role. But if there’s more actual verification, the result is very different
Buterin has been questioning the authenticity of the people on Twitter after being able to add a blue tick against the name for a mere sum subscription. He further notes that the current system is way more exclusive than even the $20/month level from yesterday.
Joining the bandwagon is a crypto enthusiast, who goes by the name Bigbob7987, replying to Buterin’s tweet saying that by already integrating crypto payments on the platform they could have KYC built into the validation system.
To add to this, the CEO of Pixelmatic, Samson Mow remarked with his best humor asking Elon to make the price $7.99. Earlier this week, Musk confirmed that creators on the platform will be able to monetize their content. The new changes will also give Twitter a revenue stream to reward content creators.
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