In response to the exciting announcement of X’s (formerly known as Twitter) ads revenue sharing initiative, Kraken, a prominent crypto exchange, has put forward a proposal that could pave the way for accepting payments in Bitcoin.
X’s Ads Revenue Sharing Program
The X community was quick to react, expressing enthusiasm for the idea. VJ Crypto Guerreier, one of the platform’s users, even suggested that it would be incredible if X’s CEO, Elon Musk, could kick off with Dogecoin as a payment option. On the other hand, ixela.lens offered a more pragmatic viewpoint, mentioning that, for the time being, considering payments in “Web Money” might be a more realistic approach.
After much anticipation, X finally unveiled its ads revenue sharing program, targeted at eligible creators globally. This initiative empowers creators to earn a share of the revenue generated from advertisements displayed in response to their content on the X platform. According to the developers, this move underscores X’s commitment to supporting individuals in earning a direct livelihood on the rebranded platform.
To be eligible for payouts, creators need to meet specific criteria, including having a minimum of 15 million impressions in the last three months, at least 500 followers, and a Blue verification subscription. In terms of payment processing, X has partnered with the renowned financial technology company, Stripe, to handle payouts.
In a recent report by Cointelegraph, Stripe launched a native fiat-to-crypto on-ramp service aimed at enhancing the crypto purchasing experience for customers in the United States. Should Musk’s platform embrace crypto payments, the availability of this on-ramp service could prove advantageous. However, as of now, there have been no indications or official plans from X developers regarding the implementation of cryptocurrency-based payments.
It is worth noting that cryptocurrency payment support has already been in place since April 2022 when Stripe introduced crypto payouts for Twitter creators. The possibility of crypto payments becoming a reality on the social media platform has been a subject of discussion for some time, with speculations circulating about DOGE and BTC potentially being among the first coins to be supported by X.
As we eagerly await further updates, the crypto community remains hopeful that X will venture into the realm of crypto payments, potentially unlocking new opportunities and possibilities for creators and users alike.