BBTV Launches Pay To Crypto, A Premium Solution to Pay Creators at Scale in Cryptocurrency
BBTV Holdings Inc. has launched its Pay To Crypto solution, enabling creators to receive earnings in popular cryptocurrencies including Bitcoin, Ethereum, and USD Stablecoin. This marks a significant advancement in creator monetization, being the first of its kind to facilitate cryptocurrency payments at scale. The program is offered at a competitive fee and utilizes the Netcoins platform, supported by a non-exclusive agreement with BIGG Digital Assets Inc. The introduction of this service aims to enhance creators' financial options and diversify their income.
- Launch of 'Pay To Crypto' solution enables creators to receive payments in Bitcoin, Ethereum, and USD Stablecoin.
- First of its kind offering for cryptocurrency payments at scale to content creators.
- Competitive fee structure for the 'Pay To Crypto' service enhances monetization options for creators.
- Utilization of Netcoins platform indicates a strong partnership to facilitate cryptocurrency payments.
- The effectiveness of the 'Pay To Crypto' program is uncertain and relies on creator adoption.
- Dependence on the Netcoins platform introduces risks related to technology and operational performance.
- BBTV has a history of losses and negative cash flow, which may impact its financial stability.
BBTV continues expansion of its Web3 solutions to creators, enabling payments in Bitcoin, Ethereum and USD Stablecoin
VANCOUVER, BC, Jan. 12, 2022 /PRNewswire/ - BBTV Holdings Inc. (TSX: BBTV) (OTCQX: BBTVF) (Frankfurt: 64V) ("BBTV" or the "Company"), the leading creator monetization company with a mission to help creators become more successful, today announced the launch of its Pay To Crypto solution to pay creators at scale in cryptocurrencies.
- Pay To Crypto is a new premium payment solution for creators that enables them to receive their earnings in a range of popular cryptocurrencies, including Bitcoin, Ethereum and USD Stablecoin.
- To the Company's knowledge, Pay To Crypto is the first offering of its kind to enable payments in cryptocurrencies at scale to content creators.
- BBTV content creators simply provide a compatible crypto wallet address and select their cryptocurrency of choice, and BBTV pays directly to their crypto wallet.
- Pay To Crypto is being offered to BBTV creators at a competitive fee.
- BBTV is leveraging the Netcoins platform to provide Pay to Crypto via a non-exclusive agreement. Netcoins is a subsidiary of BIGG Digital Assets Inc. (CSE: BIGG; OTCQX: BBKCF; WKN: A2PS9W).
"Web3 is a big part of the creator economy already, from social tokens to NFTs and cryptocurrency. This is just one step that BBTV is taking to pioneer Web3 solutions for creators in this fast-emerging segment of the creator economy," commented Shahrzad Rafati, Chairperson and CEO, BBTV. "Receiving a portion or all of their monthly earnings in crypto helps creators further diversify their income. Creators have been really vocal about their interest in entering the Web3 revolution, and we're very proud to lead the way as their strategic partner. We're excited to provide Pay to Crypto leveraging Netcoins as a strong platform."
The new Pay To Crypto premium payment solution expands on BBTV's financial solutions for creators, which also includes BBTV Fast Pay. In addition to providing optionality for creators to finance their growth in innovative ways, BBTV's growing offering of financial solutions leverages the Company's extensive library of content and scale to add incremental gross margin and Adjusted EBITDA to the business.
"Cryptocurrency is a powerful way for creators to participate in the Web3 economy, " commented BIGG CEO, Mark Binns. "Whether they're early adopters or making their first foray into crypto, converting their payments from USD into other currencies changes the narrative of what their payments can do. BBTV is an outstanding showcase of the scalability and capability of the Netcoins platform for anyone interested in crypto, not just in Canada but around the world."
Netcoins is a subsidiary of BIGG Digital Assets Inc., and has stated that it has registered users exceeding 100,000 as of November 29th, 2021, illustrating the cryptocurrency brokerage's ability to scale and facilitate cryptocurrency payments for BBTV's creator base. In Q3 2021, Netcoins also made the significant step of receiving the first Canadian restricted dealer license for a cryptocurrency trading platform, owned by a public company, in Canada.
"BBTV's crypto-payment option is another service innovation from a partner I've come to rely on for outside-the-box benefits," commented Joseph Hogue, content creator behind 'Let's Talk Money!'. "Converting payments from USD to Crypto, it was up to a week before a transfer was cleared to move into my digital wallet on another platform. Being paid directly in cryptocurrency saves me time and at a minimal charge compared to the multiple transfers from my bank to different wallets. Along with BBTV's Fast Pay accelerated payment service, the company is taking creator management to a whole new level to empower creators."
About BBTV
BBTV is a global media and technology company headquartered in Vancouver, Canada. The Company's mission is to help content creators become more successful. With creators ranging from individuals to global media brands, BBTV provides comprehensive, end-to-end Solutions to increase viewership and drive revenue powered by its innovative technology, while allowing creators to focus on their core competency – content creation. In January 2021, BBTV had the second most unique monthly viewers among digital platforms with more than 600 million globally, who consumed more than 50 billion minutes of video content, the most among media companies [1]. (www.bbtv.com)
[1] Calculations and classifications made by BBTV based on data from Comscore's "Top 12 Countries = January 2021 comScore Video Metrix Media Trend – Multi-Platform – Top 100 Video Properties Report"; Top 12 countries represent ~
Forward-Looking Statements
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws (collectively, "forward-looking information") which reflects the Company's current expectations regarding future events, including that Pay to Crypto is just one step that BBTV is taking to pioneer Web3 solutions for creators in this fast-emerging segment of the creator economy; BBTV's growing offering of financial solutions leverages the Company's extensive library of content and scale to add incremental gross margin and Adjusted EBITDA to the business; and that along with BBTV's Fast Pay accelerated payment service, the company is taking creator management to a whole new level to empower creators.Forward-looking information is necessarily based on a number of estimates and assumptions that we considered appropriate and reasonable as of the date such information is given, including but not limited to our assumptions that the Company will be ready from an operations perspective to implement Pay to Crypto in the near term; the Company's creators will widely accept and use Pay to Crypto to grow their content; our industry will continue to experience positive changes, growths and trends; the Company will continue to have timely access to needed capital, and will continue to grow its creator base; the Company's technology will continue to perform and be expanded; and the Pay to Crypto and Fast Pay programs will be successful and will add incremental gross margin and Adjusted EBITDA to the business. Forward-looking information is subject to known and unknown risks, uncertainties, and other factors, many of which are beyond the Company's control, that may cause actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the risk that our assumptions on which our forward-looking information is based may not be accurate or be realized; the Company may not be able to continue to maintain financing or financial resources necessary for the Pay to Crypto or Fast Pay programs; currency exchange risk; the risk of changes in government regulation which may be adverse to the Company's business; the Company's need for timely performance by its creators and strategic partners; defects or disruptions in technology; the Company's significant reliance on its relationship with one digital platform; the effect of competition; litigation risk; that the Company has a history of losses and negative cash flow; and the impact of the continuing COVID-19 pandemic; as well as the factors discussed under "Risk Factors" in the final prospectus of the Company dated October 22, 2020, and in its Annual Information Form dated March 28, 2021 filed on sedar at www.sedar.com and in the Company's other filings with the Canadian securities regulatory authorities at www.sedar.com. The Company does not undertake any obligation to update any forward–looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Non-IFRS Measure and Key Metric
This press release makes reference to "Adjusted EBITDA" which is a measure that is not specified, defined or determined under BBTV's generally accepted accounting principles, or IFRS, and therefore may not be comparable to similar measures presented by other issuers. Accordingly, this measure should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS. Refer to the Company's MD&A presented as at November 10, 2021 under the heading "Non-IFRS Measures and Key Metrics" for more details, as well as a discussion on the limitations of these Non-IFRS Measures and Key Metrics.
Third Party Information
BBTV has relied solely on Netcoins for the information in this press release regarding Netcoins and its business, and does not accept any responsibility for verifying, or the accuracy of, such information, nor any forward-looking information contained therein.
For further information please contact:
Media Relations: pr@bbtv.com
Investor Relations: ir@bbtv.com
BBTV-C
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SOURCE BBTV Holdings Inc.
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