Twitch Offers Bitcoin Discount to 15 million Gaming and Livestreaming Subscribers
Twitch is now leveraging BitPay’s digital currency processing network to facilitate Bitcoin cryptocurrency payments and has announced a special 10% crypto discount promotion.
The Amazon-owned premier live streaming platform Twitch is escalating its digital strategy with its recent crypto promotion ramping up its crypto strategy. Twitch is primarily leveraged by video game live streamers and is now offering a 10% subscription discount when paying with cryptocurrency through the platform’s payment processor, BitPay.
Gaming and Crypto
The potential for mass crypto adoption through Twitch is huge as the site has a regular viewer base of over 15 million, as well as 27,000 partner channels and over 2 million people who broadcast their gameplay live on a monthly basis.
Twitch had originally introduced cryptocurrency payments back in 2014 but the system was stopped in the first quarter of 2019. Twitch is now leveraging BitPay‘s digital currency processing network to facilitate cryptocurrency payments. The system now accepts Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin(LTC) as well as four USD-pegged stable coins Gemini Dollar (GUSD), USD Coins (USDC), Paxos Standard Token (PAX) and Binance USD (BUSD). Ripple‘s XRP is also accepted.
When paying with cryptocurrencies on Twitch, users just have to select the ‘Pay with BitPay at Checkout’—to get the 10% discount.
Representatives from BitPay believe that cryptocurrency payments and gaming are made for each other and that using cryptocurrencies for transactions will increase the number of users on the gaming platform while reducing the cost of maintenance, and streamlining payments with less error. The payments platform believes that Twitch is just the first of many to utilize crypto payments.
Blockchain Live Streaming
While Twitch may be the first live-streaming site to leverage crypto, it is definitely not the first to utilize blockchain and in fact may start to lose market share to more decentralized platforms that allow creators more control.
DLive is one such platform looking forward to disrupting the existing monopolized video streaming services existing on the internet, which are dominated by only a few players in the market players mainly YouTube and Twitch.
Dlive is powered by the Lino blockchain, on which you can build your own value-sharing content-based economy and promises that "content creators, viewers, and all other contributors are fully and fairly incentivized."
This project focuses on building and promoting a decentralized video content distribution infrastructure, which does away with the middlemen to better pays the content creators and the artists more fairly.
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