Experts Warn Twitter Rebranding Could Be Fatal To Elon Musk

Also Read: Pro-XRP Lawyer’s Twitter Account Hacked; Beware Of Fake Rewards

advertisement

Meanwhile, the Dogecoin price has been on a rise since Elon Musk announced the rebranding plans. Also, Musk’s updated Twitter location to XÐ fueled speculation that the D refers to Dogecoin.

Huge Loss In Twitter Brand Value

According to a Bloomberg report, brand experts believe the renaming exercise could be a mistake that could eventually affect Tesla stock as well. Todd Irwin, founder of brand agency Fazer, said the actions ‘tweeting’ and ‘retweeting’ have become part of social media culture and that new vocabulary is hard to replicate such a cultural effect. On the flip side, it is believed that the rebranding move could likely not have much impact on the company’s bottom line any time soon, as per Gary Black, managing partner at The Future Fund. He said it eventually boils down to whether or not the company will improve on free cash flow by the next year.

Despite the sea change in the Twitter experience — paid verification, long form content and limits to daily activity — Musk faces another challenge in recovering the platform’s advertising revenue. The platform’s ad revenue had dropped by over 50% since October 2022.

The Everything App

Linda Yaccarino, the Twitter CEO, said the platform is set for transformation into a global marketplace for ideas, goods, services, and opportunities. Musk envisions the X platform to be the one stop place for conducting financial communications. “In the months to come, we will add comprehensive communications and the ability to conduct your entire financial world,” he said while making the rebranding announcement.

There is risk involved when it comes to making financial decisions on social media platforms, due to the trust factor. This could potentially tarnish Musk’s image and brand value as well, analysts say.

Also Read: Cardano News: 4 Recent Launches, Upgrades Investors Should Know

Comments

Post a Comment

Popular posts from this blog

Australian Regulators halt Bitcoin, Ethereum funds for Investment firm

The Australian Securities and Investments Commission has passed interim stop orders against asset manager Holon Investments from offering or distributing three crypto-related funds—tracking Bitcoin, Ethereum, and FileCoin—to investors. Per the official statement, the said decision has been passed due to Holon’s non-compliant target market determinations [TMDs]. Australia’s apex market regulator made interim orders to protect retail investors from potentially investing in funds that may not be suitable for their financial objectives, situation, or needs. ASIC has made interim stop orders preventing Holon Investments Australia Limited from offering or distributing three funds to retail investors because of non-compliant target market determinations. https://t.co/AXpqgdAQnl — ASIC Media (@asicmedia) October 16, 2022 The official statement noted, The interim orders stop Holon from issuing interests in, giving a product disclosure statement for, or providing general
Read more

Litecoin halving completes as LTC sees increased payments adoption

Image
Litecoin block rewards have now halved to 6.25 LTC as the halving clock is reset for another four years. The Litecoin halving event has been completed with block rewards now halved at 6.25 Litecoin (LTC) per block.  On Aug. 2, the Litecoin blockchain went through its automated halving procedure at block 2,520,000. LTC miners are now getting half the rewards and the clock has been reset for the next halving in roughly four years' time. Litecoin founder Charlie Lee commented on the discrepancies between the different halving countdown timers, suggesting that the NiceHash one was the most accurate. However, all of them agreed on an Aug. 2 date. This is funny. I googled "Litecoin Block Halving Countdown" and checked the first 4 hits. The ETA for the halving is all over the map! From my quick calculation, I believe NiceHash's countdown is the most accurate. I expect the halving to occur in about a 1 day, 2 hours, and 30… pic.twitter.com/7lvOKCtiOh — Charlie Lee ️️ (@
Read more

Exploring the early CBDC adoption results beyond the hype

Image
Preliminary outcomes from countries where central bank digital currencies (CBDCs) have been introduced show mixed results. Despite widespread exploration and a handful of launched projects, CBDCs are yet to achieve global adoption.  According to an Atlantic Council report, 130 countries and currency unions are exploring CBDCs, with 11 nations having launched their digital currencies.  Сountries launched, testing or developing CBDCs, as of July 2023 | Data source: Atlantic Council This rapid pace of exploration is a significant increase from May 2020, when only 35 countries were considering a CBDC. Now, 64 countries are in an advanced exploration phase, including development, pilot, or launch. The European Central Bank (ECB) is on track to pilot its digital euro, while Australia, Thailand, Russia, and several other nations are continuing their pilot testing. In contrast, the United States’ progress on retail CBDC has somewhat stalled, but it’s forging ahead with wholesale CBDC deve
Read more