“e’ve heard from a number of creators who have been interested in the opportunity to offer exclusive memberships and benefits to their patrons through a coin or token, a digital item that they can hold on to that shows that they are part of your fan club,” Crenshaw said.
The new community guidelines page says that creators can give away coins minted through other companies (like BitClout or Rally), but that Patreon “is not the developer, issuer, or distributor of the coins, and cannot change the supply of the coins.”Ĭreators can use their coins to “unlock special perks for patrons like exclusive merchandise, passes to a show or livestream, access to an exclusive Discord community, and more,” the new terms suggest.ĭuring Patreon’s latest Creator Policy Engagement Program livestream earlier this month, the platform’s head of policy, Laurent Crenshaw, said creators have requested the ability to offer social tokens. But sometime this month, it changed its community guidelines to allow users to give away creator coins. Up until the beginning of October, Patreon’s terms of service broadly banned creators from offering any crypto-related item as a reward for subscribers. More popularity theoretically equals a higher creator coin value. Buying creator coins is essentially the same as buying currencies like Bitcoin or Dogecoin, but instead of betting on the market going to the moon, you’re betting on the creator becoming more popular. Also broadly called social tokens, creator coins are individual cryptocurrencies tied to the popularity of specific people. One sector Patreon just tentatively embraced is creator coins. Patreon’s now letting creators offer social tokens as incentive to support them
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