Crypto Tipping Added to Streamlabs App, Responsible for 15% of Twitch Streams
Broadcasters on Streamlabs, a Twitch streaming app, can now accept cryptocurrency as tips, the Steamlabs blog posted on June 1.
According to NewZoo market intelligence provider, during the first quarter of 2018, the Amazon-owned Twitch garnered 2 bln viewing hours, with Steamlabs making up 15 percent of Twitch streams. Steamlabs reported in April that they had made almost $35 mln in tips in the 2018 Q1.
In order to enable crypto tips, a broadcaster will have to connect their account to crypto exchange and wallet Coinbase. The blog notes that while only Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) will be available for tipping -- as those are currently the only coin options on Coinbase -- Streamlabs will be “looking into adding other coins in the future.”
Twitch has been accepting Bitcoin payments since 2014, with a slight break before they switched to Coinbase in 2016.