Binance Pay, a contactless, borderless, and secure user-to-user cryptocurrency payment feature by Binance, announced its partnership with Bolt Global, a technology company that builds platforms and services “for the next generation of the internet.”
The partnership will “allow Binance users from over 150 countries to access Bolt+, a new Web3 live entertainment and social experience powered by Binance Pay.”
Bolt+ is “available on the Web and as iOS, Android, and Smart TV applications.” On Smart TV, Bolt+ is “accessible through VIDAA, the fastest-growing operating system in the space used by over 50 manufacturers, including Hisense, Loewe TV, and Toshiba.”
With this partnership, Binance users can “directly send their favourite Bolt+ streamers and content creators virtual gifts and tips, paid for in crypto directly from users’ Binance wallets.” Creators can “cash out their earnings at any time via Binance Pay, with funds going directly to their Binance wallets.”
To enable universal value generation, Bolt+ “allows creators and live streamers to keep up to 95% of their earnings from the platform.” This is “in contrast to existing Web2 services, where some platforms can take as much as 55%.” A wide range of revenue streams are also “available to all content creators on Bolt+, including tipping, advertising, sponsorship, and utility-based NFT channels.”
On top of independent creators and streamers, Bolt+ has also “onboarded global leaders in entertainment, such as Monstercat, the global independent electronic music label, OneFootball, the leading football media company covering 200 leagues in 12 different languages, Euronews, the leading European news network, and France 24, an international television network based in Paris.”
Jonathan Lim, Global Head of Binance Pay, said:
“Binance Pay is proud to be partnering with Bolt Global to offer innovative virtual gifting, tipping, and premium live entertainment experiences on Bolt+. Streamers and creators can now earn easily in crypto with the benefits of the ease of use and security of the Binance ecosystem. Brands are also able to use Binance Pay to power fan experiences and meaningful initiatives on their Bolt+ channels. We look forward to powering more creative activations of Binance Pay by users, streamers, and brands across the Bolt Global ecosystem, and bringing awareness of Binance Pay to a wider audience.”
Christel Quek, Co-Founder and CTO of Bolt Global, remarked:
“We are thrilled to partner with Binance Pay to bring Web3 adoption to more industries across entertainment, retail, and gaming globally. Furthermore, Binance’s 90 million users is an incredibly strong demand partner for other brands in the Bolt+ ecosystem. Our distribution network by VIDAA across 50 Smart TV manufacturers, including Hisense and Toshiba, will also bring the world-class Binance ecosystem to more markets.”
As noted in the update, here’s how to make Binance Pay transactions on Bolt+:
In a 2-step process:
Choose the tip amount (supports BUSD, USDT, BNB, USDC) or “buy a virtual gift in crypto. This will generate a QR code on Bolt+.”
Scan the QR code “from the Binance app and authenticate the transaction.”
A successful tipping message will also “be displayed publicly in the live chat box.” Streamers and content creators can “choose to display the virtual gifts they have received from their fans in their Bolt+ channels.”