X’s ads revenue sharing: Are crypto payments on the horizon?

The possibility of Elon Musk’s platform, X (formerly Twitter), introducing crypto payments in the future has caught the attention of the crypto community. Crypto exchange Kraken recently put forth the idea of accepting payments in Bitcoin (BTC), sparking discussions about the potential integration of cryptocurrencies on the platform.

The X community responded positively to Kraken’s proposal, expressing enthusiasm for the idea. Some users even went further, suggesting that X CEO Elon Musk could start by accepting Dogecoin (DOGE) as a payment option. However, others, like ixela.lens, raised the point that, for the time being, it might be more practical to consider accepting payments in traditional fiat currency or on the platforms like “Web Money.”

After much anticipation, X finally launched its ad revenue-sharing program, offering eligible creators the opportunity to earn a portion of the revenue generated from advertisements displayed in response to their content on the X platform. This move represents a significant step in X’s commitment to supporting individual creators and helping them earn a direct livelihood on the recently rebranded platform.

“Today is the day: Ads Revenue Sharing is now live for eligible creators globally. Set up payouts from within Monetization to get paid for posting,” the platform announced eagerly.

To qualify for payouts under this initiative, creators must meet specific criteria, including having a minimum of 15 million impressions in the last three months, at least 500 followers, and the Blue verification subscription. In handling these payouts, X has chosen financial technology company Stripe as its payment processor.

Stripe, known for its innovative solutions in the financial world, previously launched a native fiat-to-crypto on-ramp service aimed at simplifying the crypto purchasing process for customers in the United States. Should X decide to embrace crypto payments in the future, Stripe’s on-ramp service could play a crucial role in facilitating such transactions. However, it’s worth noting that, at this point, there are no official indications or plans from X developers regarding the implementation of cryptocurrency-based payments.

Interestingly, Stripe had already taken steps in this direction by introducing crypto payouts for Twitter creators in April 2022. Since then, the possibility of crypto payments being adopted on social media platforms has been a topic of speculation. Speculations suggest that Dogecoin (DOGE) and Bitcoin (BTC) could be among the initial cryptocurrencies supported by X.

While the idea of crypto payments on X’s platform remains uncertain for now, the groundwork laid by Stripe’s support for cryptocurrency payouts in the past indicates that the possibility is not far-fetched. As the crypto industry continues to evolve, the integration of cryptocurrencies into mainstream platforms like X could become a reality in the future.