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One of the most receptive markets for cryptocurrency could be that for content creators, most of whom are self-employed and looking for fast and reliable ways to get paid. That’s what BBTV Holdings Inc. figures, and on Wednesday the video platform launched Pay to Crypto to send payments to marketers on the platform in Bitcoin, Ethereum, USD Stablecoin, and other digital currencies.
The 17-year-old, Vancouver, B.C.-based company says that, as far as it knows, the new program represents the first time any entity has offered such payment “at scale” to content creators. Users of the platform include creators of sports-related videogames and music videos. “Receiving a portion or all of their monthly earnings in crypto helps creators further diversify their income,” said Shahrzad Rafati, chief executive of BBTV, in a statement. The company is using the Netcoins crypto exchange, a unit of Vancouver-based BIGGS Digital Assets, to process payments for Pay to Crypto.
To use the service, content creators supply a crypto-wallet address and chose their currency. Payments are made directly to the wallet. Information about fees to creators for the service was not immediately available, though BBTV characterizes the charge as a “competitive fee.”
In related news, a study released Wednesday indicates payments in crypto for e-commerce “are still nascent today,” amounting to about $6 billion out of the worldwide total of $10 trillion. Bitcoin alone accounts for about 60% of total consumer-to-business crypto payment volume globally, according to the paper, “Mystery to Opportunity: The Future of Crypto Payments,” from Nuvei Corp., a Montreal-based payments provider.
