Patreon, one of the platforms frequently preferred by entrepreneurs in the global arena, explained its opinion with the use of crypto money.
Patreon CEO and co-founder Jack Conte and Chief Product Officer Julian Gutman gave new insights on the membership platform’s plans for crypto at a panel at The Information’s 2021 Creative Economics Summit.
Patreon may introduce cryptocurrency payment option for creators
Patreon currently does not allow creators to offer cryptocurrencies for profit. However, as TechCrunch reported, Patreon executives Jack Conte and Julian Gutman said the company is “evaluating” the use of crypto, including the previously implied possibility of allowing “creative coins” that fans can buy to show support.
Conte did not disclose a project developed for Patreon’s crypto projects, but said the company is “considering this.” The company discussed the possibility of allowing creative monies during an online September meeting, but the company put the idea on hold due to MasterCard’s stricter adult content standards.
Gutman added that Patreon has been “interested for some time” in examining the potential benefits of NFTs and related technologies for creators looking to maintain a business. It may come as no surprise that Patreon adopts coins, NFTs, or both. Patreon has been successful despite early pandemic concerns, raising $90 million in revenue just a year ago.