Bitcoin can be used as a currency to buy and sell virtually anything, and more and more platforms are finally starting to see the added benefit of working with digital currency. Micropayments are a key area where Bitcoin could make a major impact, as content creators are always looking for additional ways to monetize their content. PopChest has recently launched a private beta of their Bitcoin micropayment solution.
Using Bitcoin For Monetizing Content
Content creators are a different breed of “work horse”. They not only handle content creation, but also find ways to make from doing so. There are several ways to achieve that goal, but, bear in mind, using a middleman will always cost a certain percentage of your earnings. This is especially true in the music industry, where platforms such as Itunes take a fee of up to 30%.
The same goes for journalists and news sources. Using a donation button is one way to generate some form of small income on the side, although, those donations do not come in at a steady rate. And, despite how good your content might be, there is never a guarantee you will ever see any money from sharing it with the world.
Several websites are experimenting with Micropayment Wall, which allows the user to pay a small amount or use social media to share a link in exchange for full access to their website. Newspapers, in particular, are keen on using paywalls, as a way to engage their users without having to charge them for a full-fledged monthly subscription.
Video content creators on the other hand, are facing a different problem. Whilst you could argue that they can upload content to Youtube free of charge and earn money from advertisements, that is only true to a certain extent. Google’s own ads are blocked by most users’ browsers, and promotion of any other advertiser in your content has to adhere to certain guidelines.
PopChest – Video Bitcoin Micropayments
Santa Monica-based, PopChest, lets users add a Bitcoin paywall to content posted on platforms such as Youtube. If a viewer wishes to watch a certain video, they will need to pay the required amount of BTC in order to do so. Said payment can be sent to a Bitcoin address directly, or by scanning a QR code.
Monetizing your Youtube content through PopChest is easy. Once your video has been uploaded, login to your PopChest account and enter the URL. Users will be asked for their Bitcoin address as well as some other details. During the final step, a unique PopChest URL will be generated to share with your friends. Do keep in mind this service is currently in private beta.
“We created an easy way for people to give back to those making life more enjoyable. Giving directly to artists makes the world a better place,” reads PopChest’s website. The old system sees a vast majority of revenue going to distributors while the actual content creators pick up the scraps. PopChest flips that model upside-down,” A PopChest representative told DigitalMoneyTimes.
There is a rumour circulating that Popchest users will need to list their Youtube video as “private”, and only use the PopChest link as a way to share their content. Do keep in mind this has not been confirmed though. Furthermore, there are no official details on any associated fees at this time, and whether or not content creators can set an individual rate per video.
Images courtesy of PopChest and Shutterstock