Builder of web3 technologies Bolt Global and the crypto exchange Binance are collaborating to launch a new live entertainment and social experience powered by Binance Pay.
Bolt+ is a web3 live entertainment, social networking, and gaming experience for users, live streamers, and content creators, according to a press release on Tuesday (July 19), and will be available to over 90 million Binance users in over 150 countries.
It will be available on the Web, as an iOS and Android mobile application, and as a smart TV app through VIDAA, available with more than 50 manufacturers, including Hisense, Toshiba and Loewe TV.
Christel Quek, co-founder and CTO of Bolt Global said teaming with Binance Pay will deliver web3 to entertainment, retail, and gaming companies worldwide.
“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,” Quek said.
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Bolt+ enables fans to give cryptocurrency gifts and tips to streamers and content creators from their Binance wallets. Creators can cash out earnings anytime using Binance Pay, which is paid directly to their Binance wallet.
Content creators on Bolt+ can earn money from a variety of revenue possibilities, including tipping, advertising and sponsorship, and utility-based NFT channels. Creators and live streamers have the chance to keep up to 95% of their earnings from Bolt+. On most web2 platforms, the take rate is as high as 55%, according to the release.
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Independent electronic music label Monstercat is also part of the Bolt+ space, as are football media company OneFootball and European news network Euronews.
“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,” said Jonathan Lim, Global Head of Binance Pay.