Twitter is planning to introduce an auction for usernames online to generate revenue, reported The New York Times.
According to the report, developers at the company have considered holding online auctions where users might bid on usernames, also known as handles. Since at least December, the potential new revenue stream has been discussed. However, it’s unclear whether the plan will be implemented, and if it does, whether it will affect all accounts or just some of them.
In a post last month, Twitter CEO Elon Musk stated that the platform would begin freeing 1.5 billion usernames as inactive users were removed and deleted. Musk indicated in a tweet reply after acquiring the social network in October that he was interested in freeing up accounts with desired usernames.
Twitter’s username squatting policy prohibits the purchase and sale of usernames. Despite this ban, however, people have been able to buy popular Twitter usernames on the black market for years.
The announcement comes after Telegram, the popular messaging app, said in October that it would host an auction for usernames for individual users and channels, using a marketplace built on top of the TON blockchain.
Musk has been working to raise revenue for the company since acquiring ownership of Twitter, attempting to entice advertisers that have abandoned the network. The company announced earlier this month that it will lift its ban on political advertisements in the “coming weeks.” In November, the social network launched a redesigned Twitter Blue subscription for $7.99, which includes a verified blue checkmark.
He also made significant modifications to the company, which drew heavy criticism from users and his staff.