David - Cryptocurrency Enthusiast
Twitter bids farewell to Bluebird as Elon Musk rebrands the platform to X, according to the latest cryptocurrency news. Musk, the CEO of Tesla and SpaceX recently unveiled the new branding for the popular social media platform. Twitter's iconic bird logo has been replaced with a simple X, and the colour scheme shifted from blue to black.
The rebranding includes changing Twitter's URL to x.com, a domain name linked to Musk's previous financial services start-up from 1999, which was eventually sold to PayPal. X.com originally operated as an online bank and played a crucial role in Musk's entrepreneurial journey, leading to the founding of companies like Tesla and SpaceX.
In March, Musk established X Corp. as the parent company of Twitter, paving the way for the platform's rebranding. This move aligns with Musk's vision of creating a "super app" with multifunctionality. Twitter's transformation under Musk's leadership has been a subject of controversy, but his plans to revamp the platform date back even before he assumed control.
In an interview, Musk emphasized his goal to create an "everything app," inspired by the concept popularized in China with apps like WeChat. These Chinese social media platforms integrate various functionalities such as text and video calls, bill payments, ride-hailing, restaurant reservations, and other financial activities within the app.
Musk envisions X becoming a powerful platform for finance, banking, payments, and data. With time, he believes X has the potential to become a significant player, potentially encompassing "half of the global financial system."
However, the rebranding of Twitter faced criticism from some users who were attached to the famous blue bird logo and were sceptical about adopting a completely new concept for the platform. Nonetheless, Musk remains determined to transform X into a comprehensive and innovative app that redefines the social media landscape and offers diverse financial services to its users.
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