Content creators and their websites have avidly been looking for other ways of generating income. Banner ads have become less and less lucrative, and website subscriptions often don’t cut it. This is especially true when it comes to those who create and upload videos on the popular video streaming site, YouTube. The platform has recently implemented a new algorithm to demonetize a significant portion of the site’s videos, which was a very discouraging move for most video makers.
However, the Brave team has been developing a brand new type of technology which might put an end to frustrated content creators. Brave’s system will allow content viewers to pay the creators for their work, directly using the Brave cryptocurrency.
The platforms token, the Basic Attention Token (BAT) relies on Ethereum’s underlying technology which will allow website users to reimburse the website creators for their efforts. It’s not entirely unlike the Google Contributor system, however in this instance, Google will not act as an intermediary. The go-between responsibility of the Brave concept will fall on a blockchain-based ledger which will be linked to Brave. It will require both the consumer and creator to sign up before using it.
The Brave token is not particularly new. In fact, Brave has already signed up many websites and consumers. However, to date, website consumers paid the website creators based on the domains they visited. The new suggested system will allow YouTube content creators to benefit as well, by having their audience sign up to fund their favorite channels, the same system will work for other web-based platforms as well.
Once the YouTuber has created and verified their Uphold account, they can start collecting payments from their viewers immediately. While contributions are paid in BAT, the cryptocurrency will be converted to traditional currency before being remitted to the content creator’s bank account.
According to Brave, consumers of websites and YouTube channels can choose to either donate according to the time spent on each platform or by allocating a predetermined amount for each platform. The signup process is quick and user-friendly. What’s more, Brave is likely to appeal to content creators with a smaller audience, as all channels qualify for signing up with Brave.
However, one significant disadvantage of Brave is the fact that it is still relatively unknown. A small amount of both website publishers and users know about Brave, let alone having enough technical know-how to utilize the service.