{"id":366619,"date":"2021-11-13T19:21:00","date_gmt":"2021-11-13T16:21:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/as-patreon-tests-the-waters-can-crypto-open-doors-for-content-creators\/"},"modified":"2021-11-13T19:21:00","modified_gmt":"2021-11-13T16:21:00","slug":"as-patreon-tests-the-waters-can-crypto-open-doors-for-content-creators","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/as-patreon-tests-the-waters-can-crypto-open-doors-for-content-creators\/","title":{"rendered":"# As Patreon tests the waters, can crypto open doors for content creators?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a320b75ce6d5\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a320b75ce6d5\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/as-patreon-tests-the-waters-can-crypto-open-doors-for-content-creators\/#The_community_chimes_in\" >The community chimes in<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/as-patreon-tests-the-waters-can-crypto-open-doors-for-content-creators\/#The_future_for_digital_content_creators\" >The future for digital content creators<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/as-patreon-tests-the-waters-can-crypto-open-doors-for-content-creators\/#Only_a_matter_of_time\" >Only a matter of time?<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># As Patreon tests the waters, can crypto open doors for content creators? <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTEvMjMzNzliYjUtOTcyMy00ZjM3LThiNjUtOTM3MmVhN2E0NmY3LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>As the digital asset market continues to break new ground, seemingly with each passing day, there is no denying the fact that crypto adoption has continued to increase at a fairly rapid pace globally. In this regard, it now <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears as though online content creator platform Patreon is actively looking to devise its very own <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social<\/a> token \u2014 or \u201ccreator coin\u201d as it likes to call it \u2014 as a way of diving into the world of cryptocurrencies.<\/p>\n<p>Patreon executives recently <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/techcrunch.com\/2021\/10\/29\/patreon-confirms-its-exploring-crypto-as-a-way-for-creators-to-make-money\/\">teased<\/a> the idea at the 2021 Creator Economy Summit with CEO Jack Conte making an appearance alongside chief product officer Julian Gutman. During the event, the two interacted with the audience at length and when asked about their decision to venture into the digital asset space, Conte replied by saying:<\/p>\n<blockquote><p>\u201cI really love the idea of creators owning their media and owning their content. [&#8230;] I love the idea of shifting power away from institutions and toward individual creative people.\u201d<\/p><\/blockquote>\n<p>Even though Patreon doesn\u2019t have a full-time crypto-focused team at the moment, Gutman stated that he is actively looking to ensure that his company doesn\u2019t get left behind and is, therefore, considering creating a roster of high-quality blockchain talent in the near term. \u201cWe\u2019re continuing to ensure we\u2019re creating a sustainable recurring future for creators, [which] is why we\u2019re evaluating the crypto space more broadly,\u201d he added.<\/p>\n<p>It is worth mentioning that Conte\u2019s statements came just a month after the firm had <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/blog.patreon.com\/fall-2021-creator-policy-engagement-update\">released a feedback<\/a> form asking clients whether they would be interested in the prospect of a creator coin and\/or a social token.\u00a0<\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_community_chimes_in\"><\/span>The community chimes in<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>To get a better overview of whether Patreon\u2019s move will help content creators expand their monetary horizons in any sort of real, tangible manner, Cointelegraph reached out to Michael Gu, founder of <em>Boxmining<\/em> \u2014 a cryptocurrency-focused YouTube channel with over 250,000 subscribers. He told Cointelegraph:<\/p>\n<blockquote><p>\u201cAbsolutely \u2014 not only does it provide an additional source of revenue but it also provides additional ways for creators to engage their community. In fact, there will soon be a situation where if a platform doesn\u2019t adopt crypto content, they risk losing their existing creators to platforms that do provide crypto adoption.\u201d<\/p><\/blockquote>\n<p>Cryptocito, a prominent crypto YouTuber, is like-minded. He believes that Patreon\u2019s move is great for the industry, as it really highlights the many real-world use cases that digital assets have to offer. Furthermore, he believes that moves like these show that cryptocurrencies are slowly but surely gaining credibility within the mainstream. \u201cFor content creators like me that are native to crypto, it\u2019s definitely an interesting move that has me intrigued to learn more!\u201d he told Cointelegraph.<\/p>\n<p>In Cryptocito\u2019s opinion, it is only a matter of time until <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> events like these become more commonplace, something he attributes to the basic nature of the internet-based economy that we are currently living in. He said that similar to how Uber disrupted the taxi market, cryptocurrencies stand to change the global digital economy \u2014 it is only a matter of who implements them first.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_future_for_digital_content_creators\"><\/span>The future for digital content creators<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Nic Merten, the creator of <em>DataDash<\/em> \u2014 a crypto YouTube channel with 479,000 subscribers \u2014 told Cointelegraph that Patreon\u2019s interest in the digital asset market signals a major step forward for the industry and should be viewed with positivity:<\/p>\n<blockquote><p>\u201cFor the last few years, when people asked if there was a recurring way to support the channel with crypto, unfortunately, I had to give the same response time and time again that it just wasn\u2019t possible at the moment. I\u2019d be lying if I didn\u2019t admit I felt a bit hypocritical on the matter, being mainly a crypto channel.\u201d<\/p><\/blockquote>\n<p>Furthermore, he believes that the move could not only be a great way for Patreon to expand its user base but also for crypto adoption to increase on a mass scale, especially from a payments standpoint. \u201cI do believe that although crypto is still establishing itself as a rising store of value, the future of payments is digital and, more specifically, digital assets! With a large sum of Gen Z and Millennials\u2019 net worth being in crypto, I think it\u2019s not a matter of if, but when,\u201d Merten added.<\/p>\n<p>However, he did concede that there are still some unanswered questions when it comes to mainstream platforms accepting crypto donations. For example, the issue of high network fees is one that cannot be ignored, and it will be interesting to see these companies deal with the problem. \u201cHopefully, they\u2019ll explore layer-two or side-chain solutions, like Lightning Network for Bitcoin, and Polygon for Ethereum,\u201d Merten stated.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Only_a_matter_of_time\"><\/span>Only a matter of time?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In September, social media giant Twitter rolled out a crypto donation feature as part of its \u201cTipping Jar\u201d module, allowing users to send Bitcoin (BTC) to their favorite content creators. The move seems to have caught the attention of companies worldwide, and it appears as though the trend could continue to garner more traction, as was made evident by Patreon\u2019s decision to potentially release its own social token.<\/p>\n<p>On the subject, Cryptocito believes that as we move into a highly digitized future, we will continue to see a growing list of cryptocurrencies succeed thanks to their increased adoption by platforms such as Patreon and Twitter:<\/p>\n<blockquote><p>\u201cWe are at the beginning of entering a new era on how we [form a] community, transfer value, access information and keep track of things. Therefore, I\u2019m very excited for technological norms such as IBC or other interoperability protocols that will enable seamless connectivity and compatibility between sovereign networks and DLTs.\u201d<\/p><\/blockquote>\n<p>It should be noted that Patreon\u2019s terms of service still prohibit users from employing the platform to deal with cryptocurrencies in any shape or form \u2014 with the exception of users doling out personal investment advice. In fact, back in 2019, Patreon&#8217;s crypto censorship policies forced Dave Rubin to abandon the platform because he wanted to start accepting donations in Bitcoin.\u00a0<\/p>\n<p>Thus, moving forward, it will be interesting to see how this space continues to evolve and whether or not more companies \u2014 especially those that have previously taken an anti-crypto stance \u2014 will amend their existing policies to make it easier for their users to transact via digital currencies.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/as-patreon-tests-the-waters-can-crypto-open-doors-for-content-creators\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# As Patreon tests the waters, can crypto open doors for content creators? &#8221; As the digital asset market continues to break new ground, seemingly with each passing day, there is no denying the fact that crypto adoption has continued to increase at a fairly rapid pace globally. In this regard, it now appears as&#8230;<\/p>\n","protected":false},"author":1,"featured_media":366620,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTEvMjMzNzliYjUtOTcyMy00ZjM3LThiNjUtOTM3MmVhN2E0NmY3LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74868,74892,74355,117,49],"class_list":["post-366619","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-defi","tag-tokens","tag-adoption","tag-business","tag-youtube"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/366619","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=366619"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/366619\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/366620"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=366619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=366619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=366619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}