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Elon Musk initiates Twitter’s rebranding with an ‘X’ Symbol; X-branded tokens emerge

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TL;DR Breakdown

  • Elon Musk replaces Twitter’s blue bird logo with a stylized ‘X’ as part of his vision to transform the platform into an “everything app.”
  • The ‘X’ logo becomes Twitter’s new brand identity, projected on offices and embraced by CEO Linda Yaccarino, representing an AI-powered global marketplace for ideas and services.
  • Concurrently, ‘X’ tokens appear on decentralized exchanges following Musk’s announcement, sparking interest and volatility in the cryptocurrency market.

Description

Billionaire entrepreneur Elon Musk has transformed Twitter’s iconic blue bird logo into a stylized X to metamorphose the 17-year-old social media platform into an all-encompassing application. However, the decision came shortly after Musk invited his vast following of 149 million users to suggest an X logo, which he promptly integrated into the platform’s branding. Over … Read more

Billionaire entrepreneur Elon Musk has transformed Twitter’s iconic blue bird logo into a stylized X to metamorphose the 17-year-old social media platform into an all-encompassing application. However, the decision came shortly after Musk invited his vast following of 149 million users to suggest an X logo, which he promptly integrated into the platform’s branding.

Over a span of just 24 hours, the newly unveiled X logo has been incorporated not only into the social platform’s homepage but also finds its place in Musk’s profile photo and loading animations. The tech mogul confirmed that this change would serve as an interim design, with possible refinements in the future.

Twitter CEO Linda Yaccarino enthusiastically endorsed the X logo, projecting it onto the company’s San Francisco offices and adopting it as her background image. Yaccarino described X as an AI-powered “global marketplace for ideas, goods, services, and opportunities” that would encompass audio, video, messaging, payments, and banking.

Musk’s decision to pivot away from Twitter’s long-standing blue bird insignia is part of a broader overhaul aimed at stripping away all familiar “Twitter” and bird branding. This transformative shift occurs at a critical juncture as Twitter grapples with a decline in advertising revenue and faces fierce competition from Meta Platforms Inc.’s Threads, which gained 100 million users within just five days of its recent launch.

The visionary entrepreneur’s intentions for Twitter have been subject to evolution, initially focusing on eradicating bots and preserving free speech. Over time, Musk has articulated a grander ambition for Twitter, envisioning it as an instrumental tool in realizing his concept of an everything-app comparable to Tencent Holdings Ltd.’s WeChat.

X-branded tokens emerge on decentralized exchanges following Twitter’s rebranding

The aftermath of Musk’s announcement witnessed a flurry of X-branded tokens appearing on decentralized exchanges (DEX). Following the rebranding, scores of X tokens emerged across various blockchain networks, displaying a mix of legitimate projects with comprehensive roadmaps and pump-and-dump schemes capitalizing on the X frenzy. Some of these tokens experienced astonishing surges in value, with one token skyrocketing by as much as 162,000% within 24 hours.

Screenshot 2023 07 24 at 11.12.26 AMElon Musk initiates Twitter’s rebranding with an ‘X’ Symbol; X-branded tokens emerge
A screenshot of X-branded tokens. Source Dextools.io

Notable among the new tokens is “AI-X,” resembling Musk’s space technology company, SpaceX. The token witnessed a remarkable 10-fold increase in value earlier but has declined by 6% at the time of press. Additionally, “X JAPAN” has witnessed an increase of 360.2%.

Professional traders attribute the current enthusiasm for meme coins and low-cap tokens to the low volatility experienced by major cryptocurrencies like bitcoin (BTC) and ether (ETH). As traders seek alternative opportunities, meme coins have taken center stage, offering the potential for high returns even in the bear market.

Musk’s radical rebranding of Twitter and the subsequent emergence of X tokens have sent ripples through the crypto community, sparking intrigue and speculation. 

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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