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Intro: OpenNode has partnered with Substack to offer crypto services to publishing houses and writers. With this integration, the writers can now receive payments in bitcoin and the publishing houses can deal in Bitcoin. However, the service is very exclusive and is only available for the selected group of crypto-focused publications.
Payment Processor OpenNode is working on an integration that will allow content platform Substack to accept payment in Bitcoin (BTC) on-chain and use the lightning Network. OpenNode has announced the news on Monday that the company has partnered with Substack to make it easy for the writers and publications to get paid in Bitcoin.
As per the release by the companies, the integration will be available to a select group of crypto-focused publications on the platform. The writers will be able to send their work directly to readers with the help of the publishing platform.
Substack has more than 500,000 paid subscribers, with the most popular writers reportedly earning more than six figures annually. The select readers of the Substack will be able to pay in Bitcoin for their subscriptions. There will be certain publications that will be allowed to keep their earnings in crypto as well.
To give more flexibility and freedom to writers, Nick Inzucch, product designer at Substack informed that the platform will expand its crypto payment offering to other writers once it is successfully rolled out. There are a number of important people in the crypto space who are currently publishing using Substack. One such name is analyst Willy Woo and growth lead Dan Held.
Substack was formed in 2017. It is backed by venture capital firms Andreessen Horowitz, Y Combinator, Fifty Years and others. Andreessen has conducted a funding round in March and has received a valuation of approximately $650 million. The company is based in San Francisco and is committed to building a better future for the writers.
Substack’s online platform gives freedom to the writers and the independent publishers to do their best work while generating income directly from their audiences, and on their own terms. The firm provides various services like publishing, payment, analytics, and design infrastructure along with other key services.
The principle of the firm is that whatever you read matters and good writing is valuable. The high-quality infrastructure hosts a ton of incredible bitcoin content. It is clear that their users will benefit from support for Bitcoin as a way to pay and be paid.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
