The current online streaming platform partnered with BitPay to allow virtual currency subscriptions
The streaming platform Twitch will offer discounts for those who subscribe using cryptocurrencies as a means of payment. One of the trendy networks based on the growing popularity of the gamer world in recent months, will reduce by 10% the subscription rates for those who pay via 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 monthly stations.
In recent years, the platform has increasingly sheltered the gamer world and has been the main network used by new “streamers”. In 2017, for example, the Grand Finale of Counter-Strike: Global Offensive Major 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” Aguero or Paulo Dybala into the world of video games, further expanded the audience.
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 such as Bitcoin (BTC), Ethereum (ETH) and XRP, and stablecoin such as USDC and Paxos (PAX).
In May of this year, BitPay issued a statement on the payment methods of online games. Although credit card payments were the most common, the company pointed out that amount limits or delayed deposits are serious limitations. And he added:
“If you really want to maximize your sales, you should think about offering other online financing methods. It’s about giving your customers options, and capturing every sale you can. It’s time to consider accepting bitcoin and other cryptocurrencies as a method of financing”
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.