After the business magnate and investor, Elon Musk officially acquired Twitter, the micro-blogging has been undergoing restructuring.

Twitter verified account

Already verified users and those to soon get verification badges on the platform will henceforth be charged $8 per month to keep their blue tick. This will be a form of subscription as those who default may lose their badge, Musk announced on Tuesday.

According to Musk, the plan would cancel the platform’s current lords & peasants’ system and create a new revenue stream for the company.

Earlier this week, reports emerged that Musk and Twitter are revamping the verification process, and it might involve a fee as high as $20 per month. However, the billionaire has seemed to settle on the $8 per month pricing for now.

The latest development on the bird app comes days after the world’s wealthiest man took sole control of the social media giant in a contentious $44 billion deal.

“Power to the people! Blue for $8/month,” Musk tweeted today about the platform’s famous blue checkmark that signals a verified, authentic account.

According to Musk, the new plan’s pricing would be adjusted by country proportionate to purchasing power parity.

Musk noted in the thread that the new policy would also include priority in replying to and searching posts, which he called “essential to defeat spam/scam.”

There would also be expanded video abilities, fewer ads, and the possibility for users to get a “paywall bypass for publishers willing to work with us,” he said.

“This will also give Twitter a revenue stream to reward content creators,” Musk tweeted.

In addition to offering verification privileges, the new program would take over the existing functions of Twitter Blue, currently available for $5 per month, allowing users to edit their tweets.

Musk gave the revelations while responding to a tweet by Stephen King, who was complaining about reports that the verification service could cost $20 per month.

Musk responded: “We need to pay the bills somehow. Twitter cannot rely entirely on advertisers. How about $8?”

The proposal is only one part of a series of sweeping changes the 51-year-old entrepreneur has implemented at Twitter, with the entire board, including CEO Parag Agrawal, let go last week.

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