Twitter pilots crypto payments for content monetization
Twitter is entering a content monetization partnership with payment processing giant Stripe to allow its content creators in the Ticketed Spaces and Super Follows programs to get paid in crypto. Select Super Follows participants and other Twitter account holders will be able to get USD stablecoin for their content-creation efforts routed via the Stripe Connect service.
The Twitter crypto payments pilot will use Ethereum's Polygon wallet network to host their earnings, where they can be exchanged for bitcoins or other cryptocurrency of their choice. Veritable BTC or ETH payments support is coming at a later date, said Twitter and Stripe. Twitter introduced the Ticketed Spaces and Super Follows options last year in order to further increase traffic and revenue from fees.
The programs offer a way for creators to paywall their content and ask followers for monthly subscription rates starting at US$2.99. The rates can go up to US$9.99, but participation is open only to those with at least 10,000 followers and a requirement to tweet nearly every day. Twitter starts with a 2% fee of their revenue, but after passing the US$50,000 mark its chunk increases to the whopping 20%, making Super Follows less attractive than web services like Patreon, for instance, which don't also have app revenue fees to pay to Apple or Google.