Thumzup, listed on Nasdaq, mulls integrating Dogecoin (DOGE) for creator payments
Thumzup Media, a digital asset management and advertising firm listed on the Nasdaq, recently revealed its intentions to explore incorporating Dogecoin (DOGE) as a payment option within its mobile app. This move would introduce the popular cryptocurrency as an additional payout method alongside its current fiat currency reward system.
The Thumzup app functions on a crowdsourced advertising model, enabling users to earn monetary rewards for generating and sharing content about the products of advertisers. The proposed integration of Dogecoin aims to improve this model by providing a faster, more cost-effective, and globally accessible payment solution.
One of the key reasons behind Thumzup’s potential adoption of Dogecoin is the limitations of traditional banking systems. The company emphasized the high fees and slow processing times associated with international transfers, which have been significant obstacles for its international community of content creators. By integrating Dogecoin, Thumzup expects near-instant settlements and substantial cost reductions by bypassing traditional banking intermediaries. The company commended Dogecoin for its rapid transaction speeds, low fees, and active global community, noting that these characteristics align well with the app’s model of frequent, small micro-transactions.
Furthermore, the decision is influenced by current market sentiments, including heightened industry excitement about a possible spot Dogecoin ETF. As one of the most prominent cryptocurrencies, Dogecoin offers Thumzup an opportunity to engage with its vast, global user base and attract them to its platform. This strategic move could set Thumzup apart in the competitive landscape of creator monetization platforms. The company views the potential to be among the first major social advertising platforms to introduce Dogecoin rewards as a way to position itself at the forefront of mainstream cryptocurrency acceptance.
Although a specific timeline for the full integration has not been established, Thumzup plans to take a phased approach. This will involve conducting technical feasibility studies, assessing regulatory compliance, and implementing a pilot program before executing a comprehensive rollout of the integration.
