Patreon Crypto Money
Patreon CEO and co-founder Jack Conte and Chief Product Officer Julian Gutman spoke on a panel at The Information’s 2021 Creator Economy Summit yesterday, where they were asked about the membership platform’s plans for crypto.
There’s clearly enormous innovation happening in the crypto and NFT space,
Obviously there’s the art market and precious goods market that we’re seeing, with crazy pricing, evolve. It’s unclear if that is sustainable across the entire creator economy, but there’s some fundamental technological components to NFTs as a way to sell value to your audience and sort of continue to gain value from that from secondary sales as what you do becomes more and more important to the world.
Chief Product Officer Julian Gutman
Last month, Patreon floated the idea of creator coins to its creator community in advance of a quarterly Creator Policy Engagement Program livestream, which allows creators to weigh in on platform policy changes. But the concept was proposed alongside a more pressing crisis related to Mastercard’s new standards for adult content, which prevented the company from engaging in a more in-depth conversation with creators about the topic.
While Patreon allows creators to share personal investment stories or advice, its guidelines currently prohibit coins for the purpose of the direct financial benefit for a creator or patron, coins offered as part of an investment scheme, or any explicit incentives to purchase or obtain cryptocurrency. But if creators were to express interest in offering creator coins, Patreon would consider changing these policies.
A creator coin is a kind of crypto-based social currency — companies like BitClout, Roll and Rally have worked on creating individual tokens, which essentially allow fans to invest in creators’ success. So, if you buy a creator’s token early, and then they become a superstar, you reap benefits too.
Patreon Crypto Money
