Elon Musk's Twitter Ad Revenue Initiative Boosts Dogecoin Price

Elon Musk has kept his word to increase revenue for the social media 

Network beginning with the acquisition in October 2022.

Elon Musk, the CEO of Twitter, announced that starting today, artists would begin receiving a portion of ad revenue. The initiative is relevant to adverts that show up in reply threads from creators. This is yet another initiative by Tesla CEO Elon Musk, who had been planning to enhance the social media platform's income model. The most recent initiative also has a tangential connection to the cryptocurrency market because there has long been talk of Twitter implementing Dogecoin (DOGE)-based payments.

Revenue Model for Creator Ads on Twitter

Musk's preferred cryptocurrency is the memecoin, and his opinions on the potential of Dogecoin are well-known. How the creators' ad income model would function in terms of receiving payments in DOGE is still an open question. According to Musk on Friday, authors must be members of Twitter's Blue Verified programme in order to be eligible for the revenue share. The announcement that Tesla is already accepting payments in DOGE for its products instilled immense confidence in the Dogecoin community.

As of right now, Twitter will give creators a portion of the money it makes from ads that show in their comment threads. The revelation caused Dogecoin's price to rise, going from being negative to gaining 0.6% in a matter of minutes. According to CoinGabbar, the price of DOGE is currently $0.09433, up 1.41% over the previous 24 hours. On the other hand, the DOGE community is hoping that Twitter will eventually start accepting crypto-based payments over the next few months. Not only that, but Musk had already hinted subtly on Twitter about plans to roll out DOGE payments.

Recent rumours also suggested that Twitter would include a wallet that allows for bitcoin deposits and withdrawals. The NFT Tweet Tiles functionality is reportedly being developed by the microblogging platform.