It should be noted that not all companies are happy about the popularization of cryptocurrencies and unique NFT tokens, the topic of which is discussed in detail in our separate article. In particular, on the eve of the company Valve, which maintains the game platform Steam, banned games with unique tokens. According to analysts, in this way the company wants to protect its sources of income and if possible not to share them. At the same time, Epic Games said it welcomes innovation and the distribution of such products.

As a result, representatives of the cryptocurrency community asked Valve’s management to reconsider their views and not to prevent the development of technology around the world. Read more about the topic in this article.

Patreon and the cryptocurrency world

At the Creator Economy Summit 2021, Patreon CEO Jack Conte and the company’s Chief Product Officer Julian Gutman discussed innovation in the cryptosphere, with a particular focus on the recent rise in popularity of NFT. Here’s a quote from the organisation’s representatives, in which they shared their take on what’s happening.

It remains to be seen whether this hype will be long-lasting in the content creation economy. But there are some fundamental technological components to NFT that allow you to sell value to your audience and sort of keep profiting from its secondary sales as what you do becomes more and more important to the world.


As a reminder, NFT tokens do allow their creators to earn on secondary sales. This option is specified when creating the token, with the percentage of the so-called royalty being set by the creator of the work. In theory, in this way he can ensure a lifetime of passive income - especially if the artwork will continue to be popular.

Patreon CEO Jack Conte

However, Patreon will integrate “author” tokens rather than exactly full-fledged NFTs. That is, each of the popular authors on the site could be given the opportunity to create their own coin to reward their subscribers. It will circulate within the community and even be exchanged for other Patreon tokens of a similar kind.

During his stream last month, Laurent Crenshaw, head of policy at the company, noted that content creators themselves were already identifying an initiative in this regard. Here’s his rejoinder.

We heard from a number of creators who were interested in being able to offer exclusive memberships and benefits to their subscribers through coins or tokens – digital items that carry the virtual value of belonging to a certain community.

And so possible uses for unique tokens within the platform have already been found. And this could be good for the prospects of this asset category.

The most popular authors on Patreon in 2021 and the number of their subscribers

According to Decrypt reporters, the Patreon platform is likely to resort to using a third-party decentralized platform to issue and distribute tokens, as the company has no news yet about developing its own technology solutions in this area. Conte itself declined to comment on this during the conference.

The introduction of “custom” tokens on Patreon could have a major impact on the adoption of digital assets around the world. The number of active subscribers to the platform recently crossed the 7 million mark, many of whom are still far from everyday use of cryptocurrencies. If Patreon management integrates tokens, it would have a beneficial effect on the popularity of both Bitcoin and many altcoins.


Therefore, we think this initiative is something to be rejoiced about. Obviously, various companies are increasingly seeing the benefits of decentralized blockchain-based assets and are preparing to capitalize on the popularization of this trend. And with the benefits of the latter, it's now with us for the long haul.

What do you think about it? Share your opinion in our Millionaire Crypto Chat. There we will discuss other important news related to the world of blockchain and decentralization.