{"product_id":"x-twitter-stayin-alive-with-nft-cryptocurrency-and-one-app-to-rule-them-all","title":"X\/Twitter: Stayin’ Alive with NFT, Cryptocurrency, and “One App to Rule Them All”","description":"\u003cp\u003eNew X CEO Elon Musk had been aggressively cutting costs since he acquired Twitter in October 2022. Meanwhile, his move to restore banned accounts had eliminated a host of key advertisers, causing its main source of revenue – advertising earnings – to plummet as they suspended their advertising activities on the platform.\u003c\/p\u003e\n\u003cp\u003eX had tried various ways and means to augment its revenue, and had begun backing all things related to cryptocurrencies, as well as providing support for non-fungible tokens (NFTs).\u003c\/p\u003e\n\u003cp\u003eMusk subsequently hired former NBCUniversal global advertising and partnerships chairman Linda Yaccarino to take over as X CEO. X further resorted to filing lawsuits against advertisers that had halted advertising on the platform to compel them to continue advertising.\u003c\/p\u003e\n\u003cp\u003eMeanwhile, Musk was determined to refashion X into a super app not unlike WeChat. However, X had thus far only added a few new functions like a chatbot, job search, and audio\/video calls enablement. The much-vaunted financial services function had as yet not materialised.\u003c\/p\u003e\n\u003cp\u003eFurthermore, Musk had stopped providing support for NFT profile pictures in a reversal of X’s earlier support for NFTs prior to his acquisition. Paid subscribers thus could no longer set an NFT as their profile picture.\u003c\/p\u003e\n\u003cp\u003eCould X really abandon the advertisement-based business model which other social media companies had thrived on? And would users bite should X be able to turn its platform into the everything app which Musk envisioned?\u003c\/p\u003e\n\u003cp\u003eThis case is intended for use in a digital business course at undergraduate or postgraduate levels. The case discussion should enable the students to achieve the following learning objectives: discuss the sensibility of X’s move to embrace cryptocurrency advertising, evaluate social media’s influence in promoting NFTs, study X’s decision to remove support for NFTs, discuss why X might not be as successful as WeChat, and propose how X can better augment its revenue.\u003c\/p\u003e\n\u003cp style=\"text-align: justify;\"\u003e\u003cstrong\u003eInspection copies and teaching notes are available for university faculty. To receive an inspection copy and teaching note, please email \u003ca href=\"mailto:cmpshop@smu.edu.sg\"\u003eccxshop@smu.edu.sg\u003c\/a\u003e with your registered faculty email ID and a link to your contact information on the faculty directory at your university as verification. An inspection copy and teaching note will then be sent to your faculty email account.\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003eDownload information\u003c\/p\u003e\n\u003cp\u003eSMU Faculty\/Staff can download the case \u0026amp; teaching note on iNet with your SMU login ID \u0026amp; Password via the following links:\u003c\/p\u003e\n\u003cp\u003e·      \u003ca href=\"https:\/\/smu.sharepoint.com\/sites\/admin\/CMP\/cases\/SMU-25-BATCH%20%5BPDF-Pic%5D\/SMU-25-0035%20%5BX%20Twitter%5D\/SMU-25-0035%20%5BX%20Twitter%20A%5D.pdf?CT=1769136537224\u0026amp;OR=ItemsView\"\u003eThe Case Part A (SMU-25-0035)\u003c\/a\u003e\u003c\/p\u003e\n\u003cp\u003e·      \u003ca href=\"https:\/\/smu.sharepoint.com\/sites\/admin\/CMP\/cases\/SMU-25-BATCH%20%5BPDF-Pic%5D\/SMU-25-0035%20%5BX%20Twitter%5D\/SMU-25-0035%20%5BX%20Twitter%20B%5D.pdf?CT=1769136542792\u0026amp;OR=ItemsView\"\u003eThe Case Part B (SMU-25-0035)\u003c\/a\u003e\u003c\/p\u003e\n\u003cp\u003e·      \u003ca href=\"https:\/\/smu.sharepoint.com\/sites\/admin\/CMP\/cases\/SMU-25-BATCH%20%5BPDF-Pic%5D\/SMU-25-0035%20%5BX%20Twitter%5D\/SMU-25-0035%20%5BX%20Twitter%20TN%5D.pdf?CT=1769136547188\u0026amp;OR=ItemsView\"\u003eTeaching Note (SMU-25-0035TN)\u003c\/a\u003e\u003c\/p\u003e\n\u003cp\u003eFor purchase of the case and supplementary materials via The Case Centre, please access the following links:\u003c\/p\u003e\n\u003cp\u003e·      \u003ca href=\"https:\/\/www.thecasecentre.org\/products\/view?id=212701\"\u003eThe Case Part A (SMU-25-0035)\u003c\/a\u003e\u003c\/p\u003e\n\u003cp\u003e·      \u003ca href=\"https:\/\/www.thecasecentre.org\/products\/view?id=212702\"\u003eThe Case Part B (SMU-25-0035)\u003c\/a\u003e\u003c\/p\u003e\n\u003cp\u003e·      \u003ca href=\"https:\/\/www.thecasecentre.org\/products\/view?id=212703\"\u003eTeaching Note (SMU-25-0035)\u003c\/a\u003e\u003c\/p\u003e\n\u003cp\u003eFor purchase of the case and supplementary materials via Harvard Business Publishing, please access the following links:\u003c\/p\u003e\n\u003cp\u003e·      \u003ca href=\"https:\/\/hbsp.harvard.edu\/product\/260SMU-PDF-ENG?itemFindingMethod=search\"\u003eThe Case Part A (SMU-25-0035)\u003c\/a\u003e\u003c\/p\u003e\n\u003cp\u003e·      \u003ca href=\"https:\/\/hbsp.harvard.edu\/product\/261SMU-PDF-ENG?itemFindingMethod=search\"\u003eThe Case Part B (SMU-25-0035)\u003c\/a\u003e\u003c\/p\u003e\n\u003cp\u003e·      \u003ca href=\"https:\/\/hbsp.harvard.edu\/product\/262SMU-PDF-ENG\"\u003eTeaching Note (SMU-25-0035)\u003c\/a\u003e\u003c\/p\u003e","brand":"Centre for Case Learning Excellence","offers":[{"title":"Default Title","offer_id":44011412029482,"sku":"SMU-25-0035","price":6.0,"currency_code":"SGD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/2115\/0283\/files\/smalliStock-2199471016copy.jpg?v=1769142054","url":"https:\/\/ccx-shop.smu.edu.sg\/products\/x-twitter-stayin-alive-with-nft-cryptocurrency-and-one-app-to-rule-them-all","provider":"Centre for Case Learning Excellence","version":"1.0","type":"link"}