Patreon may let you reward creators with crypto

in #patreon2 years ago


Currently, Patreon does not allow creators to sell crypto coins for profit, but that may change in the near future. TechCrunchreports Patreon executives Jack Conte and Julian Gutman said the firm was "considering" the usage of cryptocurrency, including the idea of allowing supporters to buy "creator coins" to demonstrate support. You may invest in producers and profit if they become famous, or you might gain access to exclusive content only available to coin owners.

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Conte wouldn't answer whether Patreon has people dedicated to cryptocurrency initiatives, but he did say the firm was "considering it." During an online conversation in September, the firm considered the potential of enabling creator coins, but it was shelved as the company dealt with the consequences of Mastercard's stricter adult content guidelines.

Patreon is "interesting" in researching the potential benefits of NFTs and related technologies for creators wishing to build a business, according to Gutman. NFTs have enhanced the value of digital art, leading to multimillion-dollar purchases in some cases, but there are widespread concerns about the market's highly speculative nature and the environmental impact of blockchain-based technologies.

It wouldn't be shocking if Patreon adopted coins, NFTs, or a combination of the two. Despite early pandemic worries, Patreon has done well, raising $90 million just a year ago, and there's little doubt the service is trying to recruit as many authors as possible. A shift in stance on cryptocurrency could lure content creators who are currently forced to look elsewhere if they wish to experiment with the technology.

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