The decline in advertisement rates amid unviable subscription models prompts consideration of the Bitcoin Lightning Network. The solution lies in the Lightning monetization tools launched to allow consumers to reward content creators with a tiny Bitcoin amount.
The entry of the Bitcoin Lightning Network to monetize media is a reprieve for content creators often rewarded through non-monetary reactions by viewers. Viewers can sweeten the content creator’s pot beside the customary laugh, love and fire emojis.
The Lightning monetization tools will ease the remittance of tips and donations to content creators. Today’s tool leverages the supportive duo Lightning Company Mash and leading Bitcoin-based media firm Tales From the Crypt (TFTC).
Bitcoin Lightning Network to Support Content Creators Accept Donations and Tips
The Bitcoin Lightning Network unveils the plugin enabling content creators to accept donations and tips. The supportive duo, Mash and TFTC, aims to break the media’s reliance on subscriptions and advertisements to monetize journalism and content creation.
Bitcoin Lightning Network involves a Layer 2 solution unveiled to optimize Bitcoin’s transaction capacity. It offers instant and low-fee transactions via off-chain channels to overcome congestion occasionally experienced on the primary blockchain.
Media companies desiring to sign up for the monetization program using the Lightning plugin would join the waitlist. Its availability would rival Google Analytics, particularly by pasting code within the backend to install Lightning-based monetization options.
The company indicated that the availability of monetization tools will allow users to vote on content using Bitcoin and donate. The latter will involve reacting to standout paragraphs by attaching small Bitcoin donations.
Beyond donation, the plugin supports users-creators direct engagement. As such, the engagement process offers a new way to attract and retain users to the website.
Mash cofounder and chief executive Jared Nusinoff regretted that media companies had suffered the squeeze by the big-tech platforms that take a significant share of revenue from content production. The Lightning monetization tool will ease the burden for content creators.
Apple’s App Tracking Transparency indicates that advertisement rates are declining following cookie changes. Also, only a few platforms have their subscription model working. Unfortunately, they suffer the conversion rates challenge alongside churn and declined user engagement.
Lightning Network Facilitating Miniscule-Sized Payments
Nusinoff considers that the Lightning Network’s proposal to facilitate miniscule-sized payments for the task is timely. The Mash executive admits that developers and entrepreneurs have previously attempted ideas of facilitating small payments to content creators but were unsuccessful.
Nusinoff acknowledges that several websites have already integrated the Lightning plugin led by Stacker. news. It allows the users to vote for content similarly as witnessed in Reddit. However, Stacker. news utilizes the Bitcoin’ Satoshis’ though the payment is yet to become mainstream. The Mash executive observes that Lightning is adequately prepared to experiment.
Lightning Monetization Plugin Replicating Internet Open Protocol
We have begun to witness growth in the pioneer experiments that integrated Lightning. Illustrations of successful experiments include the CashApp to grow and ease its network.
The Mash executive considers the Lightning plugin beneficial and replicates the internet open protocol. The time is suitable for Mash to facilitate and revolutionize media monetization. Nonetheless, transforming media monetization is still too early to write it off.
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