X to launch a market to buy inactive handles

X is launching a marketplace for inactive handles that will allow premium subscribers to request and purchase usernames. The marketplace will offer both free and paid options to order or obtain eligible handles. X says rare handles can be priced anywhere from $2,500 to more than seven figures.

Priority handles refer to usernames that often include full names, multi-word phrases, or alphanumeric combinations. These handles can be ordered free of charge for Premium+ and Premium Business subscribers. If the user’s request is approved, X will transfer the handle to him for free. However, if a user cancels or downgrades their subscription, the old ID will return to their account after a 30-day grace period.

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The launch of the new marketplace will allow X to boost revenue through direct payments. It is also likely to increase interest in its premium subscription offering, as it continues to deal with its struggling advertising business.

The social network says that not all applications are approved and that applications are usually reviewed within three business days. Once the request is approved, the user’s old ID is reserved and will not be given to anyone else.

“Rare” handles include names that are short, generic, or culturally significant. These handles will not be available through standard orders and will instead be offered through general distribution and direct, pre-priced purchases available by invitation only.

For public projections, multiple people can apply for the handle. X says the selection is based on a user’s previous contributions on the platform, their intended use of the handle, and their engagement and reach on the social network.

As for direct purchases, pricing depends on a number of factors, such as word popularity, letter length, and cultural significance. Once purchased, the user gets to keep the handle even if their premium subscription expires.

Examples of “rare” handles include usernames such as @Pizza, @Tom, and @One.

X explained on the help page that it is launching the marketplace rather than releasing inactive handles all at once for anyone to claim because it wants to prevent spam or abuse, noting that the marketplace “allows for fair and secure distribution through a controlled process.”

If a user has a specific inactive handle in mind that is not on the market, they can “register” their interest by adding the handle to their watch list. When it becomes available, X will notify them.