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X, formerly Twitter, has reportedly started working on a new marketplace for handles where interested users can buy old and unused usernames.
According to emails obtained by Forbes, X has a separate team called @Handles, which is developing a new marketplace where users can buy account names left unused by people who originally created those accounts. The report suggests some handles that are up for sale can be purchased for ‘a flat fee of $50,000’, which roughly translates to Rs 41,58,000.
While the publication did not share the complete emails to protect the anonymity of its sources, it has confirmed that the emails came from employees currently working for X. Moreover, the Elon Musk social media platform seems to have made some changes to the @handle guidelines, fees and process. However, a support page on X still says that “unfortunately, we cannot release inactive usernames at this time”.
In October 2022, when Elon Musk purchased X for $44 billion, the multi-billionaire said that he planned to make a new marketplace where users could buy handles. Earlier this year, a report by The New York Times suggested that X was considering selling user names to boost revenue, which was followed by the platform purging old accounts to free up usernames.
More than a year after Elon Musk acquired Twitter (now X), the social media’s valuation has reportedly dropped to less than half of what it had in October last year. While Musk says X is now valued at $19 billion, 0ther sources suggest that the social media platform is now worth somewhere around $15.4 billion. If X starts selling unused usernames, it might generate some money that might help it get back on track.
