X, formerly known as Twitter, recently made headlines in the digital world by launching a global ad income-sharing scheme for qualifying authors. This unique concept gives content producers a cut of the revenue produced by adverts displayed in response to their material on the X platform.
X has teamed with financial technology startup Stripe as its payment processor to facilitate payments to authors. Stripe, famed for its user-friendly payment systems, just introduced a fiat-to-crypto on-ramp tool to let clients in the United States purchase cryptocurrency.
Accepting digital currencies for ad revenue sharing has gained traction, with crypto exchange Kraken suggesting the integration of crypto payments with Bitcoin or Dogecoin. The X community has reacted well, with many users expressing enthusiasm for the concept.
It’s important to note that there are presently no official intentions or hints from X developers to include cryptocurrency-based payments. However, the door remains open for future improvements in this area. There is a lot of chatter about this topic on social media, but no actual verifiable posts regarding it.
— Walletor (@walletorapp) July 31, 2023
Creators must satisfy certain conditions in order to be eligible for ad revenue sharing. They must have at least 500 followers, a Blue verification membership, and 15 million impressions in the last three months. This action demonstrates X’s commitment to assisting individuals in earning a direct living on its freshly redesigned platform.
The introduction of cryptocurrency payments for ad revenue sharing might possibly open up new options for content providers while also attracting a larger audience to the site. Nonetheless, given the market volatility and regulatory implications, such a shift must be approached with caution.
Finally, X’s ad income-sharing proposal is an important step toward empowering artists. While no firm plans have been published, the discussion about cryptocurrency payments demonstrates the platform’s dedication to innovation. Furthermore, this step will aid in the support of its content producer community.