will first be available to "a select group of crypto-focused
publications."
An integration with payment processor OpenNode will allow content
platform Substack to accept Bitcoin payments on-chain and using the
Lightning Network.
In a Monday announcement, OpenNode said
it had partnered with Substack “to make it easy for writers and
publications to get paid in Bitcoin.” According to OpenNode and
Substack, the integration will only be available to “a select group of
crypto-focused publications” on the platform.
The publishing
platform, which allows writers to send their work directly to readers,
has more than 500,000 paid subscribers, with the most popular writers
reportedly earning more than six figures annually. The select Substack readers will be able to pay for their subscriptions in Bitcoin (BTC), with certain publications allowed to keep their earnings in crypto as well.
Substack
product designer Nick Inzucch hinted that the platform could later
expand its crypto payment offering to other writers in an effort to give
them “more flexibility and freedom.” A number of prominent figures in
the crypto space currently publish using Substack, including analyst Willy Woo and Kraken growth lead Dan Held.
Related: Second largest US mortgage lender will accept crypto payments this year
Founded
in 2017, Substack is backed by venture capital firms Andreessen
Horowitz, Y Combinator, Fifty Years, and others. After a March funding
round led by Andreesen Horowitz, the platform reportedly has a valuation
of roughly $650 million.
source link: https://cointelegraph.com/news/publishing-platform-substack-now-accepts-bitcoin-payments
