As it continues to expand access to its new Handles Marketplace, where users can acquire popular @names for the platform, X has also revised its documentation in regards to how purchased @handles will work, and whether users will actually “own” the names that they pay for.
X initially announced its Handles Marketplace last month, which gives Premium+ and Premium Business subscribers the opportunity to acquire any vacated X handle, for free in some instances, or for a variable price, based on popularity.
And those prices can be hefty, with X noting that transfer fees will range from “the 5 figure region (USD) and span into the 7 figure range (USD).”
At those levels, you’d have to really want a specific moniker in the app, and maybe, if X is really valuable for your business, it could be worth it.
But then again, for anyone considering buying a new @name, just make sure that you read the fine print on what you’re actually paying for here.
First off, as noted, you’ll need to have a Premium+, Premium Business, or a Premium Organizations subscription to get access to the marketplace, so you’re already going to be paying a monthly fee, on top of any specific @handle price.
But even if you do pay, you’ll never “own” your handle, as such.
As explained by X:
“If your [username] transfer request is approved, you get a limited, revocable, and non-transferable license to use the handle, subject to the X Handle Marketplace Terms and User Agreement. X owns all handles, and may reclaim them anytime, but only intends doing so rarely outside of violations of the Terms.”
So you’re not taking ownership of the name, you’re just renting it from X. Which, technically, is the case for all platforms anyway, but the specifics here are important, and in my opinion, are a pretty big overreach, which devalues the whole offering.
So first, as we reported last month, if you cancel your X Premium subscription, you’ll lose access to your acquired handle. So you stop paying, you don’t get your preferred username anymore.
That’s a bit rich in itself, but okay, anyone who’s paying for a handle is likely a very dedicated X user anyway, so maybe this isn’t a major red flag? I mean, I wouldn’t be paying tens of thousands to “buy” a handle that I could lose for this reason, but for others…
But there’s more.
“Once your handle is transferred, you must ensure you continue to meet the below criteria:
- Create content regularly. If an account is active but the associated handle remains largely dormant – for example, where little or no original or engaging content is published – X may reclaim the handle.
- Use the handle in a way that reflects the spirit of participation and expression on X. That means active involvement in platform activities (replying, reposting, discussing topics) that help build a vibrant community for sharing ideas and expressions. X’s intent is to ensure that handles remain available for active voices and creators who help advance the mission of the platform, not for speculation or inactivity.
- Ensure regular activity on the platform, with a minimum of 1 device login within a 30-day period.”
So not only will you lose your acquired handle if you stop paying for X Premium, you’ll also, potentially, lose your preferred name if you don’t post engaging content.
Which means, again, that if you’re going to pay for a username, you better be really dedicated to X.
It seems a little overzealous, and it also radically overestimates the actual value of having a specific username in the app. But this is from the same person who thought that most of the platform’s users would pay for a blue checkmark, so over-estimation of value is nothing new in this respect.
X also says that if your X Premium subscription lapses, you’ll have 30 days to re-activate it “before we reclaim the handle,” while you’ll also have to provide an explanation as to why you want a specific handle within your initial application.
So quite a few provisos here, which may prompt you to think twice about the actual value of paying for a username.
And again, if you’re paying 5-7 figures for a name, that’s a lot to take in.
X has reportedly reclaimed a heap of @handles for this purpose, and it’s hoping to on-sell them as another revenue stream.
But you’ll have to really value X if you’re going to pay up.
