Patreon plans to allow creators to use crypto for monetization – Bitcoin News

[ad_1]

Patreon, the membership platform, is considering the idea of ​​allowing creators on its platform to issue their own designer pieces. The statement, which was a revelation, was made by Patreon CEO and Co-Founder Jack Conte and Product Manager Julian Gutman at The Information’s Creator Economy Summit 2021. This is consistent with a report presented last September that assessed the use of crypto as part of the platform.

Patreon flirts with crypto

Patreon, the well-known membership organization, is now considering the idea of ​​introducing crypto elements to add new revenue streams, according to statements by CEO Jack Conte and product manager Julian Gutman. At the Creator Economy Summit hosted by The Information in 2021, the two directives admitted that the idea of ​​introducing a membership token for content creators was on the table.

While Patreon has explicitly banned the introduction of coins as a form of investment in its platform, this rise in crypto along with other circumstances the platform faces could cause it to change these rules in the near future. to come up. On this, Gutman said:

I think we’re certainly interested in evaluating and understanding how DTVs or some of the underlying technologies help us create long-term, sustainable income for creators.

Conte also praised crypto which worked because of its straightforward and permissionless features. This allows creators to own their products and their subscribers’ data without having to rely on a platform to mediate, which is what Patreon strangely is. “I think that’s what a lot of this technology is about, and what I think is really, really exciting about it,” he said.

Crypto as an alternative

Patreon has had issues with some content creators in the past, which has prompted them to consider crypto-based services as an alternative. In December 2018, Patreon removed some creators from his service, including “Sargon of Akkad” aka Carl Benjamin, leaving him without the income of the subscribers who followed him.

This led to Jordan Peterson, another influencer at Patreon’s service, to shut down his account and launch a new alternative service with more lax rules regarding content moderation. However, the inclusion of crypto in a recurring membership service has been tried before, but with little success.

Ironically, Patreon could be the platform to implement crypto in response to Mastercard’s new adult policies. The platform hinted at this in its latest political engagement update, where it said:

One opportunity that creators have expressed interest in is the development of a creator coin or social token that could be included as a membership benefit.

What do you think of Patreon’s recent approach to cryptocurrencies? Tell us in the comment section below.

Image credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This is not a direct offer or the solicitation of an offer to buy or sell, nor a recommendation or endorsement of any product, service or business. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, good or service mentioned in this article.

[ad_2]