Twitch is a video live streaming service operated by Twitch Interactive, a subsidiary of Amazon. It is an online site that allows users to watch or broadcast live streaming or pre-recorded video of broadcaster’s video game gameplay.
They are now offering their users subscription discount of 10% whenever they pay with cryptocurrency through BitPay.
Bill Zielke, Chief Marketing Officer of BitPay mentioned that Twitch is the first major global brand to offer crypto-based promotion. He said: “We are seeing more online merchants interested in using crypto as a promotional payment form, which is exciting since most marketing payment options are mainly reserved for alternative payments through PayPal. Twitch is the first major merchant to jump on this trend.”
The option of adding cryptocurrency as a payment promotion have led to tie up the interest of cryptocurrency into the gaming community. Back in March 2019, Twitch has removed BTC and BCH as a payment option for subscriptions. Three months after, they have re-enabled the option again. There are speculations that Twitch opted to offer the subscription discount to ride in the popularity of blockchain-based games and use of the digital asset in the virtual world.
Gaming Pioneer and Independent Board member for DMarket, Trip Hawkins said: “Games are virtual worlds, and virtual worlds benefit from the trustworthiness of more currencies and reliable methods of payment. They also stand to benefit from the ownership and tracking mechanisms that crypto is known for. Hence, digital merchants will want to offer crypto as long as it is not too volatile an instrument (for that reason, we have seen it come and go a few times already).”
Many live-streaming platforms are already starting to adopt using cryptocurrency for tips. MenaPay announced support for Twitch in December 2019, using MenaCash stable coin as a form of a tip. Brave also supports tipping on Twitch as well as YouTube.