Skip to main content

Elon Musk, Twitter Super App 'X' and Web3

 

Super App, Twitter, WeChat

As Twitter’s logo is set for a rebrand tomorrow, information about Elon Musk’s plan for Twitter is resurfacing - or should we say ‘X.’ 

This has a few implications, the main one being the adoption of Web3. We know Twitter has about half a billion users as of 2023. Elon Musk’s alleged plans to offer crypto trading services potentially lower the bar for Twitter users to enter Web3. It’s important to note that about half a billion people are currently in the Web3 space - it’s unclear how much overlap exists between Twitter users and crypto users at the time of writing.

We’ve already seen the successful adoption of super apps by the likes of WeChat (as one example). A recent announcement from Hong Kong showed Visa and Mastercard are now available as forms of payment for international travelers using WeChat in China. 

It’s not all fun and games for Super Apps, though. Singapore-based Grab had to let thousands of people go through a significant drop in share price. 

So where does this leave us with Twitter on the rise to become a super app? 

It might not be the easiest path. There’s already competition from the likes of Brian Armstrong and Coinbase. 

On one hand, Coinbase is an app where you can buy and trade cryptocurrencies. While Twitter is a space for public discourse, where you’ll allegedly be able to buy and trade cryptocurrencies soon. I think Twitter has an edge over Coinbase because they already have a “login using Twitter” option across various apps. This could mean it’ll be easier for Twitter to keep everything under its roof while Coinbase still has to branch out. 

What’s clear is that the West still doesn’t have a clear super app front-runner, but our guess is that it will soon!

Comments

Post a Comment

Popular posts from this blog

What Do We Know About Solana?

I will keep these broad strokes because I'll have to dive much more deeply into future posts and different aspects that will be touched on here.  Solana is its own blockchain, officially launched around the infamous COVID crash in March 2020. This was considered a black swan event in the market where everything tanked in price. It took Solana about 3 years to go live after introducing the idea.   In the interest of keeping this explanation high level, we'll talk about the famous tradeoff in cryptocurrency between security and efficiency.  On one side of the spectrum, we have Bitcoin, considered the most secure network, but it's insanely slow. Bitcoin uses a  "Proof-of-Work,"  where computing power dictates the following blocks created on the ledger. This uses physical hardware computers worldwide to create Bitcoin, which is starting to get an avalanche of negative press for its energy consumption and adverse environmental effects. More on another day. Many of the
Post a Comment
Read more

Welcome to Web3, Crypto and Bitcoin News Updates and Background

There are endless question marks around the crypto and web3 industry. Is it just a fad? Are things going to recover? Did FTX kill the whole industry? The truth is that any one question deserves more of a thoughtful answer, which is what I am to do with this site.  I want to dive into the topics that interest people the most so they can have some clarity about the burgeoning blockchain industry. If you're brand new to the industry or consider yourself an expert, I'd like to address topics in a digestible way to all ends of the spectrum.  Bitcoin came into my life in 2013 (granted, I bought it in 2020), and I've worked full-time in crypto for the last three years. We're now at a time when people are constantly coming to me with important questions about the industry, and the biggest goal is to create a place where they can gather all the information they need in one place.  Some topics covered here include Bitcoin, Ethereum, web3, mining, DAOs, metaverse, NFTs, and altcoi
Post a Comment
Read more