YouTube Launches "Jewels" Digital Currency for Live Gifting Feature
On Thursday, YouTube announced a new way for creators to earn money during vertical livestreams. The company has introduced "Jewels," a digital currency that viewers can purchase and use to send "gifts" to their favorite live creators.
Similar to TikTok’s Live Gifting Feature
The concept of sending gifts to creators during live streams is not new, as TikTok has already implemented a similar feature called "coins." Viewers can purchase coins with various monetary values and send them to creators as gifts. When viewers use Jewels on YouTube to send gifts to creators, the creators receive "Rubies," which are worth 1 cent each. This means that for every 100 Rubies earned, the creator receives $1.
Price Variance of Jewels
The price of Jewels can vary depending on the bundle options chosen by viewers. As a result, there is no fixed effective revenue share for creators, and the amount of Rubies they earn can differ based on the price of Jewels at the time of purchase.
Bonus Offer for Eligible Creators
For the next three months, eligible creators who participate in this new feature will receive a 50% bonus on their gifts’ earnings. The bonus is capped at $1,000 per month, in addition to their regular earnings from Rubies.
Technical Requirements for Gifts and Super Stickers
Creators can only receive gifts when they stream vertically directly on YouTube or with third-party streaming software. Viewers can only send gifts through the mobile app. It’s worth noting that once an eligible creator enables gifts on their vertical livestreams, they will no longer have access to Super Stickers in the chat tab.
Comparison to TikTok’s Live Gifting Feature
YouTube notes that this new feature is a direct response to the popularity of gifts on TikTok Lives. Creators on TikTok are earning thousands of dollars by going live and receiving gifts from viewers. For instance, some teen creators have earned up to $7,000 per month by engaging in live battles on the platform.
Benefits for Viewers
YouTube believes that gifts offer viewers a better way to visually support their favorite live creators. With this new feature, viewers can show appreciation for their favorite creators and interact with them in a more engaging way during live streams.
Rollout of the New Feature
The new monetization option is rolling out to eligible creators in the U.S. over the next few weeks. Creators who are interested in participating in this new feature should stay tuned for further updates from YouTube.
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