Twitter, the social media platform now owned by Elon Musk, is reportedly discussing selling usernames in an attempt to level up revenue.
The report comes as Musk has been seeking ways to increase the company's revenue.
According to the report, developers at the firm have thought about holding online auctions where buyers can bid for usernames, also known as Twitter handles. The prospective new profit stream has been considered since at least December 2022. It's uncertain whether the strategy will come to life, and if it will impact all the users or just a subset of them.
In a tweet last month, Musk stated that inactive users would be removed and that Twitter would shortly begin freeing 1.5 billion usernames. Musk indicated in a tweet response that he was eager to release accounts with preferred usernames after purchasing the social media platform in October.
The policy against usernames squatting on Twitter prohibits the exchange of usernames for money. Despite this regulation, it has long been an option to buy sought Twitter usernames on the black market. In the past, hackers were drawn to the business of selling coveted usernames.
Meanwhile., a teenager was detained in 2020 after breaking into a social network and buying well-known usernames to sell. Several notable figures' accounts were stolen by the hacker, including those of Bill Gates, former president Barack Obama, including Musk himself.
The new revelation comes after Telegram, the prominent messaging app, stated in October that it would host an auction for usernames for both individual users and channels, using a marketplace developed on top of the TON blockchain.
Following Musk's $44 billion buyout of Twitter, the American mogul has been looking for strategies to boost revenues at a time when ad revenue has been declining. According to reports, several advertisers have left Twitter since Musk acquired the social media network, and the firm has been cutting its internal income projections.
Source credit: https://techcrunch.com/2023/01/11/twitter-selling-usernames-via-online-auctions/