In the rapidly growing world of cryptocurrencies, getting paid for certain types of content through the digital medium has many more layers than meets the eye. According Cointelegraph, the COVID-19 pandemic has increased crypto payments as there was an increase in these payments. As content creators use various web platforms to promote and profit from their work, getting paid for it becomes an essential part of that discussion. How is crypto payment different? How do the platforms guarantee payment? And what goes into that process?
In the recent episode of "gossip about gossipโ, Zenobia Godschalk interviewed Gregory Schneider, Hedera Deputy General Counsel, about the protection and monetization of content creation and NFTs. They cover the cryptocurrency landscape and the rise of NFTs, as well as how payment works on different websites. Schneider is a financial lawyer and Deputy General Counsel at Hedera, where he has been since September. He is a graduate of the University of Arizona James E. Rogers School of Law.
โThe money side is like the first layer of what happens in anythingโฆthat ability to transact and then you start to overlay it, 'Okay. Well, transaction for what? and then you have people who are making art, or music... or writing, for example, any kind of creative endeavor, so you have to figure out... how are those people going to get paid and how are they going to get paid using this new technology? Schneider said.
Key points:
- The cryptocurrency landscape and the rise of NFTs
- Websites differ on payment, control, and royalties for content creators
- The sequence of steps that a platform starts when it comes to crypto payments
