Twitter's Paid Blue Tick Service To Roll Out On November 29, Says Elon Musk

Taking to Twitter, Musk said, "Punting relaunch of Blue Verified to November 29th to make sure that it is rock solid."

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With the launch of this new service, changing someone's verified name?will cause the loss of the blue check "until name is confirmed by Twitter to meet terms of service".

Further, "all unpaid legacy Blue checkmarks will be removed in a few months", and a new subscription-based model will be rolled out for those who want to pay and get their profile names verified.?

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The coveted blue check mark was previously reserved for verified accounts of politicians, famous personalities, journalists and other public figures. But with the current model, it is open to anyone who is willing to pay $8 (approximately ?660) per month. The move seeks to retain advertisers on Twitter.?

Musk made the announcement of paid-verified accounts on November 1,??a week after Musk took over the social media company in a $44-billion deal.

“Power to the people! Blue for $8/month,” the billionaire entrepreneur tweeted in reference to the platform’s famous blue checkmark, saying the new plan would upend the “current lords & peasants system” and create a new revenue stream for the site.

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Musk also tweeted that the price would be adjusted by country proportionate to purchasing power parity.