If you’ve ever wanted to get your hands on a better, more relevant @handle on X, you’re opportunity is coming, with X announcing its new “Handles Marketplace,” which will enable X Premium subscribers to purchase dormant usernames.
X’s Handles Marketplace, which it previewed as part of its updated business subscription package, which it released earlier this month, will give Premium+ the capacity to acquire any vacated X handle, for free in some instances, or for a yet-to-be-determined price in others.
As explained by X:
“The X Handle Marketplace is our industry-first solution to redistribute handles that are no longer in use. Eligible Premium subscribers will be able to search and make requests, with both complimentary and paid options available.”
The marketplace itself is not active as yet, but it does now have a welcome screen, and an option to sign-up for the waitlist (screenshot above).
X has also provided an overview of how the process will work, with usernames divided into “Rare” and “Priority” handles.
As you can see in this overview, “Priority” handles will be available free of charge in some instances, while the more requested “Rare” handles will only be available via “Rare Handle Drops,” which will effectively be auctions for these @names.
Well, kind of.
X says that its Rare Handle Drops will enable all Premium+ and Premium Business users to register their interest in their chosen name, and X will then judge the applications, and choose a winner, based on various factors relating to on-platform activity and presence. X says that it won’t be taking bids within this process, though there’s no info as yet on how much X will charge for each rare name.
So, will it be worth making a bid for your perfect @handle?
Well, it depends on how valuable you see X within your digital marketing process, of course, while there are also some other limitations and provisos to consider.
The most significant qualifier here is that you’ll have to be a Premium+ or Premium Business subscriber in order to gain access, so you do have to be paying for one of X’s pricier subscription packages to even have the opportunity to bid in the first place.
You’ll also then have to pay for the more desirable @names, and as noted, we don’t know what X will be looking to charge as yet.
Though they could be expensive.
Back in 2023, X discussed the option of auctioning off dormant handles, which saw them considering charges of up to $50k each for the most requested names.
And despite X saying that there’ll be no bids in this updated approach, there is likely to be some form of auction-style pricing element at play, which will mean that the costs for each will be at least somewhat dictated by demand.
So if you really want that one great @name, you might have to be willing to pay a hefty price for the privilege.
Oh, also, you don’t get to keep them.
If you ever cancel your X Premium+ or Premium Business subscription, you’ll be reverted back to your original handle.
Yeah, it’s more a rental agreement than a purchase. But again, if you really want that @name…
Look, it doesn’t seem like the most enticing proposition, but it may give X another opportunity to drive more revenue, while it will also keep participating users paying for their Premium subscriptions, which will help to prop up the business.
And X needs the money. Its ad sales declined in Q2, while its overall usage continues to decline, which lessens its broader market appeal.
X has gained a level of reprieve on this front by merging with xAI, which means that xAI’s funding can now also be diverted to X as well. But with xAI also rapidly burning through cash with its expanding AI projects, X really needs to be at least breaking even, in order to ensure Elon’s broader digital empire can succeed.
Selling dormant handles is another option on this front. Though it will be interesting to see just who’s willing to pay, and how much renting @handles is worth.
