Key Highlights:
- Twitter and Stripe have collaborated to offer cryptocurrency payouts to selected users of the social media platform as content monetization products.
- Twitter’s Ticketed Spaces and Super Follows programs enable them to receive the earnings from the company in USD coins.
- Elon Musk, the CEO of Tesla, has offered $43 billion in cash. This is supposed to be the ‘best and final’ offer for the social media company.
Twitter and Stripe have collaborated to offer cryptocurrency payouts to selected users of the social media platform as content monetization products. The eligible users of Twitter’s Ticketed Spaces and Super Follows programs enable them to receive the earnings from the company in USD coins—a stablecoin whose value is pegged to the U.S. dollar.
Twitter & Stripe offer cryptocurrency coins
The monetization efforts by the Twitter platform have been in some effort to integrate the ‘creator’ economy and boost revenues. The users who receive the crypto payments will hold the earnings in crypto wallets on the Polygon network. It is a crypto infrastructure company that has the Ethereum blockchain and can exchange the crypto into other currencies.
The said crypto payments will be transmitted through Stripe Connect and will also be handling the requirements of know-your-customer. Stripe also plans to add options for payment in other cryptocurrencies in the coming years.
Twitter to be take-over by Elon Musk
Twitter is also amidst the attempt to takeover by Elon Musk who has often used the platform to promote bitcoin and ‘mem coins’ like ‘dogecoin’. There has been news suggesting that Twitter might agree to take the deal with Elon Musk.
Elon Musk, the CEO of Tesla, has offered $43 billion in cash. This is supposed to be the ‘best and final’ offer for the social media company.
There has been news that Twitter would announce a $54.20 per share deal after the board has met to recommend the transaction to Twitter shareholders. Although it is always possible that the deal collapses at the last minute.
