According to The Wall Street Journal, the company is using the approach in an attempt to increase its bottom line. X owner technology chief Elon Musk said the $1,000 monthly price sets a “moderately high bar” to achieve the verified status. “Or they can just pay $1000/month for a verified organisation subscription with the ability to convey that organisational authority to affiliates. This more than pays for itself in organic reach,” he said in response to a tweet about the approach.

He added that the price would mean organisations must be of a “non-trivial” size to qualify. He said it also makes it too expensive for scammers to create “millions of accounts”. At the same time, the company is slashing prices for some of its advertising slots. This includes giving new bookings a 50% discount, provided they sign on before 31 July. X says the discounts will allow advertisers to “gain reach during crucial moments” like sporting events.