With the new Bitcoin Powered Podcast App, users may earn BTC in a way that is easier to use, more transparent, and more straightforward.
The Fountain Podcast App for bitcoin now lets users get paid in bitcoin (BTC) for the first hour of listening each day.
The Lightning Network, a layer 2 network built on top of the Bitcoin blockchain that aids in making bitcoin transactions quicker and less expensive, is how Fountain, which was founded just a year ago, pays listeners in bitcoin. Users are compensated for engaging with promotional content, downloading podcasts, recommending friends, and producing user-generated content.
Fountain claims that its prior system, “Flow,” lacked clarity. The model’s mechanics seemed hazy and unsatisfying to the listeners.
“We have carefully examined the data and gathered a ton of insightful user input. It is obvious that the Flow system has not been effective. This is why we are introducing a new, more straightforward, user-friendly, and transparent income structure. Most crucially, it will eventually enable consumers to earn more, according to a blog post from the business.
How is Fountain put to use?
In 2021, Fountain was established by Nick Malster and Oscar Merry as a result of their inspiration from Adam Curry’s Podcasting 2.0 project, an effort to advance and decentralize podcasting. With the help of this motivation, their love of Bitcoin, and some pre-seed money from cryptocurrency investor Anthony Pompliano, Fountain Podcasts was established.
“With Podcast Index, Adam Curry was experimenting with the notion that value may be transmitted directly from the listener to the artist. We therefore considered the possibility of enabling podcast listeners to earn bitcoin while doing so. “, Malster remarked in an interview with a news outlet.
Users download the Fountain app and begin streaming their preferred podcast programs to start earning money. The fountain offers a similar assortment of podcasts as well-known podcasting services like Apple Podcasts and Spotify. For the first hour of listening, users receive random amounts of Sats, also known as Satoshis (the 100 millionths of a bitcoin). The Fountain-hosted built-in wallet is used for payment.
By listening to promoted material and introducing friends and family to Fountain, users may also earn bitcoin. Bitcoin earnings can be transferred or put toward buying likes and comments. If users want to boost their level of participation, they may also finance their in-app wallet with BTC.
“Withdrawals are not instantly available, but they become available after more listening. You can get paid out in about a week if you frequently listen to podcasts, according to Malster. (Fountain declined to say what the minimal withdrawal amount was.)
More inventive listeners may choose to produce clips of their preferred episodes, and if other listeners interact with such clips (by liking or commenting), the clips’ creators will be paid in bitcoin. Within the app, clips can be freely generated, altered, and uploaded.
When listeners opt to pay podcasters, they get compensated. A podcast developer must first install Fountain on their computer and “claim” their show. Podcasts are disseminated through publicly accessible RSS feeds with email addresses attached. You can claim a podcast if you have access to the email address associated with its RSS feed (RSS feeds are online documents with content that is constantly updated).
When a show is claimed, the owner can automatically earn bitcoin if viewers want to support it by paying a tiny streaming fee (called in the Fountain app as “boosts”) or when viewers pay to submit comments.
Model of business for Fountain
For a monthly fee, Fountain also provides a premium version. Listeners can make their own playlists and transmit payments without paying transaction fees thanks to the subscription fee.
Therefore, you receive a few extra features, new clipping tools, and the option to build playlists of your clips with Fountain Premium. But once more, the money we make from Fountain Premium is returned to the paying customers, according to Malster.
The lifeblood of Fountain is fees. The business generates revenue by keeping a portion of every payment. For instance, Fountain receives a portion of the money paid to podcasters by non-premium customers. Additionally, 20% of the money spent by podcasters who want to market their material goes to the company. Its unconventional business approach is based on keeping a budget to compensate listeners.
“That cash is reinvested in paying listeners. Consequently, we really optimize our business strategy to be able to pay our regular listeners who visit Fountain every day, so they may continue to earn,” Malster added.