Quick take:
- Binance Pay and Bolt Global have teamed up to build Web3 live entertainment and social experiences in Bolt+.
- The partnership will allow Binance users to access Bolt+, enabling them to send their favourite content creators virtual gifts.
- Bolt+ will also offer creators an opportunity to generate revenue from utility-based NFT channels.
Binance Pay has collaborated with Bolt Global to build Web3 live entertainment and social experiences in Bolt+. The partnership will onboard Binance Pay’s massive user base from over 150 countries to the multi-device streaming platform.
Bolt+ is available on the Web and as iOS, Android, and Smart TV applications. The collaboration will enable Binance users to send virtual gifts and tips, paid for using Binance wallet.
On the other hand, creators will be able to add more revenue generation channels to their content including utility-based NFTs. The partnership also means that they will be able to cash out those earnings via Binance Pay.
Bolt+ allows content creators to keep up to 95% of their earnings from the platform. For perspective, YouTube takes about 40%, while some other Web2 streaming services retain as much as 55%.
Bolt+ has also collaborated with top entertainment companies including the leading football media content producer OneFootball and one of the world’s largest news networks, Euronews and France24, among others. The partnerships have been created to complement user-generated content on the platform.
Commenting on his company’s latest partnership, Jonathan Lim, Global Head of Binance Pay said: “Binance Pay is proud to be partnering with Bolt Global to offer innovative virtual gifting, tipping, and premium live entertainment experiences on Bolt+. Streamers and creators can now earn easily in crypto with the benefits of the ease of use and security of the Binance ecosystem. Brands are also able to use Binance Pay to power fan experiences and meaningful initiatives on their Bolt+ channels.”
On the other hand, Christel Quek, Co-Founder and CTO of Bolt Global commented: “Binance’s 90 million users is an incredibly strong demand partner for other brands in the Bolt+ ecosystem. Our distribution network by VIDAA across 50 Smart TV manufacturers, including Hisense and Toshiba, will also bring the world-class Binance ecosystem to more markets.”
Web3 payment infrastructures have become a hot target of decentralised finance platforms looking to leverage the metaverse and NFT ecosystem. On Tuesday, Zebedee raised $35 million to build a bitcoin-based payments system for games.
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