X / Twitter slashes price for verified businesses by introducing a basic tier, but there's a catch

The original verification plan grants businesses a range of benefits, such as verification, a brand icon, protection from impersonation, premium support, and the option to add extra accounts for $50 per month each. The details regarding the features of the new Basic plan and its eligibility criteria for businesses, however, remain unclear.

Opinions within the X community have been quite varied. Several small and medium-sized businesses (SMBs) have expressed their approval of the news, stating that the initial proposal was overly costly and out of reach for them. On the other hand, some have raised concerns about the high cost of X's basic checkmark, still at this discounted price, and have questioned the effectiveness of the platform's verification system.

Since being acquired by Elon Musk, X (formerly Twitter) has been facing challenges in terms of gaining traction and achieving profitability. The platform is currently being led by CEO Linda Yacarino, who assumed the position last year. According to reports, X's user base exceeds 100 million, although industry analysts suggest that only a small portion of these users are actively engaged and generating revenue for the company. Only time will tell if this new effort to bring in SMBs will pay off in the long run.