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YouTube's latest monetization feature is a Twitch Bits ripoff
- YouTube has taken a page from Twitch’s monetization strategy and introduced a new feature called Jewels.
- The feature will let viewers purchase a virtual currency during vertical live streams and buy gifts for the creator to show their support.
- Creators will earn another virtual currency, called Rubies, from the gifts they receive, with each Ruby valued at one cent.
YouTube is introducing a new way for creators on the platform to monetize their live streams. Inspired by Twitch Bits, YouTube’s new Jewels feature lets viewers buy a virtual currency they can spend during live streams to send creators various gifts.
YouTube says that Jewels will start rolling out to eligible creators who are part of the YouTube Partner Program and have accepted the Virtual Items Module in YouTube Studio over the coming weeks. Initially, the feature will only be available to creators in the US, and only US viewers will be able to purchase Jewels and send gifts. However, other viewers will be able to see the gifts sent during live streams.
Interestingly, YouTube is not offering the new monetization feature for all live streams. The company says (via Android Police) that viewers will only be able to purchase Jewels and send gifts during vertical live streams on the YouTube app for mobile. These Jewels will unlock various animations that will pop up during the live stream in real time.
Creators will receive the gifts in the form of another virtual currency called Rubies. Much like Bits on Twitch, each Ruby will earn creators one cent. In addition, YouTube will give creators a 50% limited-time bonus of up to $1,000 on gift earnings for the first three months of the feature’s release.
Like other monetization features on the platform, YouTube will take a cut of the revenue generated from the purchase of Jewels. However, the company has not outlined a fixed revenue share as it does for Super Chats and channel memberships. Instead, it says that since the “amount a user pays for Jewels varies based on the bundles that they purchase and any viewer promotions we may be running,” there is no fixed revenue share for Jewels.
Currently, YouTube has not revealed the prices for the Jewel bundles. We expect to learn more once the feature rolls out to users over the next few weeks.