Streamlabs Twitch-Streaming App Allows Crypto Tipping to Posting Members
Twitch is a common social media app that allows individuals to broadcast themselves in a livestream video during video games and other activities.
Up until now, the only way to earn any income was to be among the high-ranking elite that has a massive following. Streamlabs, an app for Twitch streaming that is owned separately by Amazon, now is allowing broadcasting members to receive tips in the form of cryptocurrency as of June 1st. Streamlabs claims it is a fast, reliable and feature packed desktop streaming application for professionals.
— Streamlabs (@streamlabs) June 1, 2018
According to NewZoo, the first three months of activity on Streamlabs accumulated over 2 billion hours of viewing from watchers, which is enough to make up 15% of all Twitch streams.
By the end of that first quarter of the year, the company had already received close to $35 million in tips from waters.
If someone wants to enable watchers to provide them with tips during their broadcast or while watching a playback, the user first has to create a wallet on Coinbase and connect it with their account.
Then, the user will play as they normally would, while watchers should be able to find a button to send crypto tips.
Right now, the program only supports Bitcoin, Ethereum, Litecoin, and Bitcoin Cash, which is mostly because that is all that Coinbase uses as the top cryptos globally. However, as this technology becomes more profitable, there may be other coins that are accepted in the future.