Twitter Unleashes New Awards Feature: A security researcher named Jane Manchun Wong, who is known for discovering hidden features in popular social networking apps, has exposed Twitter’s forthcoming awards system in its entirety.
It has been speculated that with the introduction of Twitter Awards, users will be able to spend virtual currency on a variety of awards that can then be applied to tweets that they like in order to generate revenue for the author.
Since Elon Musk’s takeover of the platform in October, many controversies have surrounded it, leading to the dismissal of hundreds of employees and the departure of even more as the platform’s identity seemed to shift overnight.
There has been a lot of backlash to Twitter’s decisions over the past few months, and some have speculated that Elon Musk may step down as CEO. The most recent monetization strategy adopted by the company is one that is widely used on other social media platforms like Reddit.
Jane Manchun Wong recently tweeted that Twitter has plans to roll out more than ten distinct awards for tweets. The badges appear to operate in the same way as Reddit’s do, in that they can be purchased with the site’s currency.
Those who purchase Twitter Awards are able to “award” their favorite tweets with a special badge that draws attention to the tweet and earns the author real money. A user can withdraw funds from the app into their real-world currency once they reach the minimum payout threshold of $50.
Another major shift in Twitter’s strategy to generate revenue, this one follows the widely panned decision to sell verification badges. It’s no surprise that Twitter is introducing a new way to monetize, in the form of awards, in light of Elon Musk’s recent setting of a new record for the most money lost in history.
— Jane Manchun Wong (@wongmjane) January 5, 2023
Users of the social media site might be surprised to learn that the feature has been in the works for over a year, well before Musk’s takeover of the site.
The Gold award, presumably the most prestigious, will cost its recipients 5,000 Twitter Coins, a new currency that will be introduced in tandem with the award system.
Despite the fact that Twitter’s award system won’t help the company’s public relations (especially since users have been voting for Elon Musk to resign as CEO), it does provide additional motivation for content creators to keep using the platform.
Many people would benefit greatly from being able to earn and withdraw money through the Twitter app.