The online streaming platform of the moment partnered with BitPay to allow subscriptions using virtual currencies
The streaming platform Twitch will offer discounts for those who subscribe using cryptocurrencies as a means of payment . One of the fashion networks, based on the growing popularity of the gamer world in recent months, will reduce subscription fees by 10% for those who pay using BitPay .
Since the spread of COVID-19 and subsequent isolation measures, many audiovisual platforms saw a significant increase in their subscription and consumption levels. One of the cases in question is Twitch , which after almost 10 years of its foundation, has 15 million active users per day and more than 3 million stations monthly .
In recent years, the platform has increasingly sheltered the gamer world and has been the main network used by the new streamers . In 2017, for example, the Counter-Strike: Global Offensive Major Grand Final had an audience of over a million people. With the arrival of the pandemic, the entry of world-renowned footballers such as Sergio "el Kun" Agüero or Paulo Dybala into the world of video games, further expanded the public.
In this way, the new partnership with BitPay to accept crypto payments is expected to increase retail adoption of cryptocurrencies . The payment platform accepts some of the major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and XRP, and stablecoin like USDC and Paxos (PAX).
In May of this year, BitPay released a statement about payment methods for online games. Although credit card payments were the most common , the company noted that quantity limits or late deposits are serious limitations. And I add:
“If you really want to maximize your sales, you should consider offering other financing methods online. It's about giving your customers options, and capturing every sale you can. Time to consider accepting bitcoin and other cryptocurrencies as a financing method "
Twitch stopped accepting cryptocurrencies as a payment method in March 2019. However, until then, it allowed its users to earn crypto rewards for their participation in the platform .