BitPay’s chief marketing officer, B Zielke, told Cointelegraph that of the thousands of merchants the apple works with, Twitch is the first primary global lopass to offer a cryptography-based promotion. Zielke added:
“We are increasingly seeing online merchants curious about cryptography as a promotional payment method, which is emerging as maximum marketing pay features are the best friend reserved for alternative invoices via PayPal. […] Twitch is the first major merchant to embark on this trend. »
According to Zielke, it’s Twitch that provides the 10% subscription reduction, which is critical to consider because some might think that the promotional offer comes from BitPay. The fact that Twitch is the provider of the promotion is surprising, as the form of live streaming turns out to have a love-hate relationship with crypto.
In March 2019, Twitch got rid of its Bitcoin (BTC) and Bitcoin Cash (BCH) payment features for subscriptions. A Reddit user reported the change and noted that Twitch suddenly deleted BitPay as a payment processor. Another Reddit user noted that Twitch had canceled all of its cryptography-based subscriptions this period. Three months later, Twitch reactivated cryptographic payment features.
Aleven, while Zielke also cannot comment on Twitch’s sudden revival of crypto in 2019, was wary that Twitch transpahicount sought to attract more crypto users to the platform. “When an apple as giant as Twitch offers a cryptocurrency-based promotion for all its customers, it sends a transparent message that they are taken seriously,” he said.
Speculation would also lead some to believe that Twitch’s growing interest in cryptography stems from acclaim for blockchain-based games and the use of virtual assets in virtual worlds. With this in mind, keep in mind that Twitch is primarily aimed at the player community. Recent statistics also show that more than 16,000 games were played on Twitch in early July, making it the best record for the platform.
Trip Hawkins, a game pioneer and independent board member of DMarket, a flat form for blockchain-based games, told Cointelegraph that he believed cryptography would grow in importance in the coming years, that is, as a theme in gaming with virtual products. savings and other similar gaming centers:
“Games are virtual worlds, and virtual worlds have the wonderful reliability of more coins and reliable payment methods. They can also have the wonderful thing about the owner and the tracking mechanisms by which cryptography is known. Therefore, virtual traders will want to be providing cryptography as long as it is never too volatile (for this reason, we have been given a position where I saw it coming and passing several times).
Hawkins also noted that after the collapse of the cryptocurrency market position in March, the costs of cryptocurrencies recovered or the gaming station stabilized. As such, cryptography as a payment technique for online subscriptions can now be optimal. Echoing Hawkins, Zielke noted that while Twitch’s cryptocurrency-based promotion is an ambitious move, it monitors an even bigger trend, with more and more merchants being born to watch and accept cryptography-based payments.
According to Zielke, BitPay commissioned a Forrester Consulting study to take advantage of the benefits merchants can achieve when they accept cryptographic payments. Aleven, although the study has not yet been published, Zielke is able to obtain some percentage results:
“We found that the acceptance of cryptography supports average order values, from 2 to 2. sometimes more consistent. We also found that acceptance of cryptography attracted new customer segments and reduced payment costs. In addition, this component of the price of classic forms of payment that accepts almaximum cryptography gets rid of fraud-like debit releases”.
Stephan Widmer, CEO of European e-commerce furniture site Beliani, told Cointelegraph that the apple had partnered with BitPay on a crusade where consumers earned a hundred euros (lately $116) on purchases of 400 euros ($465) or more when they paid with crypto. He explained that the aim of the promotion was to attract new consumers and at the same time expand order sales at an additional charge. According to Widmer, cross-effects show that average order fees are about twice as many h8 as credit card sales.
“When you look at cryptography, research, and the progress made over the last 6 to 36 days to move from speculation directly to overall adoption, it’s promising, but there’s still a long way to go and innovations to be done. To invest in cryptocurrencies, there are two camps, hodlers and consumers. Until recently, there were very few undeniable tactics for consumers to spend their cryptocurrencies, or a reluctance to spend speculative nature and market volatility.”