Twitch users can now send tips to their favorite streamers in a stablecoin called MenaCash, introduced by the blockchain-based payment gateway MenaPay.
MenaPay, a Turkish venture firm that stands behind the development of the payment gateway on the foundation of blockchain technology, announced the addition of an exclusive option for tipping Twitch streamers with the MenaCash stable coin. The press release came out on December 27, 2019. The tipping option was realized in the form of an update to the proprietary mobile application. By using this app, the viewers of live streams are enabled to send certain amounts of MenaCash, which is a digital currency, the value of which is pegged to that of the US Dollar, thus hedged against the intense volatility that is inherent to the vast majority of cryptocurrencies. The involvement of Twitch is the continuation of MenaPay’s integration into the gaming space, which began when the streamers were afforded an option to collect monetary donations by means of the company’s blockchain ecosystem.
In the press release, the members of the MenaPay team expressed their excitement about the opportunity to enter the booming gaming industry through Twitch, one of the biggest streaming platforms, home to over 3.7 million players who engage with their followers through live streams.
From now on, the viewers can show their gratefulness for the engaging content, provided by the streamers, by sending them tips and donations during the live stream or by purchasing a subscription to a given channel by virtue of MenaCash. The process of donation is incredibly easy – all that’s required of the user is to scan the corresponding QR code, and the streamer will receive some MenaCash in a matter of seconds.
Cagla Gul Senkardes, the CEO of MenaPay, believes that the deal with Twitch represents a crucial stepping stone on the path towards an all-encompassing adoption of blockchain and cryptocurrencies by the global industry of gaming. She also noted that the announcement was met with tremendous enthusiasm by the Twitch viewers since they have been longing for such a simple yet efficient donation mechanism. To meet their needs, MenaPay has come up with the necessary update to the application that is now integrable with Twitch and allows for instantaneous donations straight from the smartphone.
In and out of crypto love
Twitch has had a somewhat controversial relationship with cryptocurrencies, specifically Bitcoin and Bitcoin Cash. Before the March of last year, both these cryptocurrencies were represented among other payment options – then suddenly, Twitch removed them without any explanation. However, both coins had been reinstated in June.
Among other platforms that support tipping in cryptocurrencies is Brave, an Internet browser that is powered by the Basic Attention Token (BAT). Through Brave, viewers can support their preferred streamers and bloggers on YouTube, Twitter, and Twitch.
Another blockchain platform that rewards the creators of video content is called DTube. It is a decentralized streaming outlet that provides for the reward system, developed in partnership with the company called Refereum. The rewards are being provided to gamers who actively engage with their audience during live streams. Let’s not forget that the practice of donating in cryptocurrencies goes beyond the realm of gaming: Agatha Bacelar, a running candidate for the US Congress in California’s 12th District, is officially accepting campaign donations in cryptocurrencies.