X to release marketplace for selling inactive handles

'X Handle Marketplace' will allow Elon Musk-owned social media platform to increase revenue through direct payments
New logo of Twitter is seen in this illustration taken, July 24, 2023. — Reuters
New logo of Twitter is seen in this illustration taken, July 24, 2023. — Reuters

X (formerly Twitter) is set to launch a new feature, 'X Handle Marketplace', that will allow premium users to request and purchase inactive accounts. 

The marketplace will give users — Premium+ and Premium Business subscribers — both free and paid options for requesting and purchasing handles.

A video posted on X revealed that there are two types of handles, Rare and Priority. The former include short, generic, or culturally significant names, and could be priced from $2,500 to over seven figures. Meanwhile, the latter refer to usernames that often include full names, multi-word phrases, or alphanumeric combinations and these handles are free to request.

If a user requests an inactive handle and X approves it, the handle will be transferred for free. However, if a user cancels or downgrades their subscription, their old handle will return to account after a 30-day grace period.

According to Elon Musk-owned social media platform not all requests will be approved and that requests will normally be reviewed within three working days.

The 'X Handle Marketplace' will allow users to increase revenue through direct payments. It will also increase interest in its Premium subscription offering, as it continues to deal with a struggling ads business.