Musk taps 'Star Trek' actor to promote X Money
What's the story
Elon Musk has enlisted the help of Star Trek actor William Shatner to promote his latest venture, X Money. The new payments service was previously available only to X employees but is now being rolled out to a select group of users. However, unlike regular beta invites, these were given in exchange for a $1,000 donation to Shatner's charity supporting children and veterans' organizations.
Auction details
Musk sent Shatner $42 as part of the payment
The invitation was part of an online auction held on Monday, with Musk endorsing the move. Shatner revealed that he received payment from Musk via the X Money app before conducting the auction. A screenshot of the transaction showed that Musk sent him $42, a humorous sci-fi reference to "The Hitchhiker's Guide to the Galaxy," where this number is said to be the answer to life itself.
Beta access
Winners will also receive a metal debit card
The winners of the auction will soon get a notification, which will allow them to access the X Money service from within their app. This feature will be located right below the Premium link. They will also be among the first ones to receive an exclusive metal X Money debit card with their username from Visa, one of X's partners for its person-to-person payments service.
Service details
The everything app
The addition of X Money to the platform is part of Musk's vision for an "everything app," which would offer a range of services like private messaging, payments, creator content, subscriptions, video, and more. Screenshots shared by Shatner on X showed that the service comes with three tabs: Account, Rewards, and Activity. Users can deposit money into their account or send/request money from others.
User benefits
How to earn interest on your paycheck
The screenshots also showed an option to set up direct deposit for earning APY, with rates going as high as 6.00%. Deposits made through X Money are held by Cross River Bank, Member FDIC, and insured up to $250,000 per individual. While X Money itself isn't an FDIC-insured bank yet, it has been acquiring money transmitter licenses across the US and has obtained money transmitter licenses in over 40 states.