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Twitter finally asks for real verification, but is it just a money-making scheme?

Stephen S. by Stephen S.
31.05.2024
in Business, Companies, Insights, Leadership, News
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The social platform X (formerly known as Twitter), owned by Elon Musk, has updated the payment requirements in its Creator Subscription and Revenue Sharing programs: the two methodologies it has in place for those who publish on the social network with a certain audience and success, to be able to get paid.

As of now, these accounts will be required to verify their identity with a government-issued identification from their country. This measure aims to promote authenticity and combat fraud following the criticisms of many users due to the presence of bots, despite Musk promising to fight them. In fact, the blue checkmark of premium accounts, necessary to participate in these earnings or at least to be eligible for them, has become a shield so far for many anonymous accounts to publish.

The new requirements

Now new creators must comply with this verification from the start, while existing creators have until July 1, 2024 to adapt.

The requirements include being over 18 years old, having an active account for at least three months, a complete profile, at least 500 active followers, and regularly posting. In addition, they must activate two-factor authentication, maintain a good reputation on the platform, and connect a verified Stripe account for payments. Creators must also adhere to strict standards of conduct and comply with all applicable local laws when monetizing on X.

The origin of X Premium

When Elon Musk took over Twitter in 2022, his goal was clear: transform the platform into a more robust and lucrative tool for content creators. Thus was born X Premium (formerly Twitter Blue, a name inherited from a previous system), a subscription that offers exclusive benefits to its most dedicated users.

Musk saw direct monetization as an opportunity to attract more creators and keep the audience engaged. This vision has led to the implementation of new features and programs, including identity verification and content payments.

Eligibility criteria to earn money on the old Twitter

To participate in X’s monetization programs, creators must meet a series of requirements:

  • Residence: Live in a country where X offers its monetization programs.
  • Age: Be over 18 years old.
  • Account activity: The account must have been active for at least three months.
  • Profile completion: The profile must be complete with account name, biography, profile picture, and header image.
  • Followers and activity: Have at least 500 active followers and have posted regularly in the last 30 days.
  • Email verification and two-factor authentication

In addition to meeting the eligibility criteria, creators must connect a verified Stripe account to receive payments. This step is crucial to ensure that payments are processed securely and efficiently.

Participating in X’s monetization programs is not just a matter of meeting the technical requirements. Creators must adhere to strict codes of conduct. Requesting money or interactions in exchange for illegal content or harmful, physical goods or services, or sexual services is prohibited. In addition, creators cannot use X’s payment features for contests or promotions, nor engage in fraud or deception, such as artificially inflating interaction.

Tags: BusinessElon MuskEntrepreneurshipLeadership PsychologyTechTwitter
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