Twitter, one of the most popular microblogging sites, is going to introduce a subscription model of the application called Project Gryphon. The platform will start testing the subscription model in the fourth quarter of 2020.
Jack Dorsey, CEO of Twitter, said that due to the significant reduction in revenue for the micro-blogging site, they intend to start testing a paid service on Twitter. Twitter revenue fell 23% due to the ongoing pandemic the second quarter of 2020 from the 2nd quarter of 2019.
It was also found that some jobs were created, which indicated to the candidates that they would work in a subscription platform called Grython. The ad appeared about two weeks ago. He made it clear that the Gryphon team will be a team of web engineers working with the Twitter payment team to design a subscription service.
Currently, Twitter is a completely free social media platform that makes money from advertisements. Adding a subscription service to Twitter will greatly enhance the platform's financial growth.
And in 2017, Twitter planned to launch a subscription service, but due to some limitations, the platform failed to do so. However, it seems that now, the micro-blogging site is ready to start testing the Gryphon subscription service project.
Apart from that, Twitter suffered one of the most intense hacking attacks last week. Celebrity accounts like Bill Gates, Barack Obama, ο Elon Musk, Kanye West, Michael Bloomberg and Joe Biden were violated. Twitter said the breach came after "a coordinated social engineering attack" on its employees for gaining access to the backend.
The incident has caused concern even to the FBI, which is looking for what exactly happened in this violation. Of course, the hackers managed to make a lot of money before the fraud was revealed.