The future of Twitter Spaces with Elon Musk in charge might be in jeopardy

The majority of the Web3 community’s creators, investors, and enthusiasts use the Spaces feature to connect with other members of the community and share insights and developments in the Web3 space. Now that the feature may be in jeopardy, the community is wondering if Twitter will ever become the Web3 social media platform that was once predicted. 

Prospects for the audio feature already looked bleak as people emerged from pandemic lockdowns and hung out more in person. In September, Twitter discontinued paid tickets to conversations on Spaces, The Information previously reported.

The outlook look is even worse as of Friday, several employees who worked on Spaces lost their jobs, including Kim Le, a product designer, and Danny Singh, who worked on research and strategy and shared frequent updates about Spaces.

In a document listing critical projects updated Monday, Twitter staff noted that some employees working on Spaces are helping on other projects, such as its effort to revive Vine and charge for verification badges as part of Twitter Blue. It didn’t give further insight into the future of Spaces.

Musk, who isn’t a big user of Spaces himself, hasn’t said much internally about the feature and seems more focused on money-making tools such as Twitter Blue and verification, according to a source familiar with the company’s plans. 

Changpeng Zhao, CEO of Binance (who helped Elon buy Twitter) said that 90% of the proposed features will fail. Zhao, who invested $500 million to acquire Twitter with the intention of transforming the platform into a Web3 social media platform, is now criticising Musk for his priorities.

Spaces may be left behind or even dropped in efforts to transform Twitter into a video platform and assist creators in monetising through videos. Will everyone rush to Clubhouse if this happens?

Categorized in: