Patreon executives again hinted at their company’s expansion into the world of cryptocurrencies in a panel at the 2021 Creators Economy Summit by The Information. Patreon CEO Jack Conte appeared alongside Chief Product Officer Julian Gutman:
“I am fascinated by the idea of creators owning their media and its content. […] I love the idea of taking power away from institutions and giving it to individual creators. “
Conte noted that while the platform does not currently have full-time employees focused on cryptocurrencies, it was considering hiring them. Gutman went on to say: “I think for us, really thinking about how we are continuing to ensure that we are creating a sustainable recurring future for creators is the reason we are evaluating the crypto space more broadly.”
These statements come after it was announced last month that the company was seeking the opinion of its customers on the possibility of launching a Creator Coin or Social Token. In a direct, Patreon’s head of policy Lauren Crentshaw said:
“We have heard from several creators who have been interested in the opportunity to offer exclusive memberships and benefits to your patrons through a coin or token, a digital object that they may have and that shows that they are part of your fan club.”
Patreon’s current Terms of Service specifically prohibit the use of the platform to sell cryptocurrencies outside the scope of personal investment advice.
In 2019, Libertarian host Dave Rubin went from Patreon to accepting donations in Bitcoin due to what he perceived as censorship by the platform. Last month, Twitter enabled a donations feature in BTC that integrated with many web-based applications, including Patreon.
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