(Image credits: Forbes)
In response to the recent announcement of X’s (formerly Twitter) ads revenue sharing initiative, the crypto community was abuzz with discussions about the potential acceptance of payments in Bitcoin on the platform.
Following the announcement, Kraken, a prominent crypto exchange, proposed the idea of accepting payments in Bitcoin. The suggestion garnered positive feedback from the X community, with many praising the move. Some enthusiasts even expressed their hopes for X’s CEO, Elon Musk, to consider integrating Dogecoin as a payment option as well.
While the enthusiasm was palpable, ixela.lens, another user on the platform, urged a more realistic approach and suggested considering “Web Money” as a payment alternative for the time being.
After much anticipation, X officially introduced its ad revenue-sharing program, allowing eligible creators worldwide to receive a share of the revenue generated from advertisements displayed in response to their content. This initiative is seen as a significant step in X’s commitment to supporting creators and helping them earn a livelihood on the rebranded platform.
To be eligible for payouts, creators must have a minimum of 15 million impressions in the last three months, possess at least 500 followers, and have a Blue verification subscription. The payment processor for payouts will be the financial technology company, Stripe.
Coincidentally, Cointelegraph reported that Stripe recently launched a native fiat-to-crypto on-ramp service, specifically aimed at improving the crypto purchasing process for customers in the United States. Should X decide to introduce crypto payments, this on-ramp service could prove beneficial.
Despite speculations and discussions surrounding the possibility of introducing cryptocurrency-based payments, there are no official indications or plans from X developers at this time.
Notably, Stripe already added support for cryptocurrency payouts to Twitter creators back in April 2022. The topic of crypto payments on the platform has been a matter of interest for quite some time, with speculations pointing towards DOGE and BTC as potential initial coins to be supported by X.
As of now, the X community eagerly awaits any updates from the platform’s developers regarding the adoption of cryptocurrency payments, as it could potentially reshape the landscape of social media payments.
Source: Cointelegraph
