Online streaming platform Twitch is embracing cryptocurrency payments by giving users a discount when using crypto. The Amazon-owned video platform is offering users a ten percent discount on channel subscriptions when using cryptocurrency payment processor Bitpay. Twitch is the first major online merchant that promotes cryptocurrency payments in such a way.
Twitch and cryptocurrencies have a bit of a love-hate relationship. In March 2019 the company removed the option to pay with bitcoin or bitcoin cash. These payment options were also provided by Bitpay. However, a couple of months later Twitch re-enabled the crypto payment option. They have never provided a reason for all this, but it could’ve something to do with regulatory and legal issues or the fluctuating value of bitcoin.
Why Twitch is now offering users a discount when using crypto payments, is also not very clear. Gamers are the biggest audience for the streaming video platform. This audience generally is very familiar and comfortable with digital payment options and virtual money. In addition there’s the increased popularity of blockchain games.
Thousands of players are flocking to trading card games like Gods Unchained and Splinterlands. Skyweaver is slowly also joining those ranks. At the same time fantasy football game Sorare is attracting more players every single day, while League of Kingdoms is set to be released on mobile.
What are blockchain games?
There are different variations of blockchain games, but the most popular take is that blockchain games allow gamers full ownership over in-game assets. This enables gamers to trade their items for money or give them away to friends. Blockchain technology also makes sure that the rarity of a digital item is clear to everybody. This is one of the main reasons behind increased value.
A more hardcore and niche approach to blockchain games, are the games that run entirely on blockchain technology. All the game rules and all the player actions are stored on a public blockchain. Games like Nine Chronicles by Planetarium and Taurion by Xaya are clear examples of this. The online worlds remain live because players keep the blockchain running. It’s a new form of player empowerment where central authorities can’t decide to pull the plug on a game that gamers still like to play. There are no centralized servers, as the game is hosted on the blockchain.