Fundi, the real-time funding platform for live streaming has unveiled its new digital payment solution for fans to support their favorite live stream content creators. The platform in essence will support live stream producers by helping them earn funds easily when they go live.
Designed and developed by the creative agency the community, Fundi is the first platform to combine real-time payment with live streaming via an interactive sticker. In effect fundamentally shifting the digital payment process by making seamless real-time payment during live streaming.
Fundi Live Stream Payment Platform
With Fundi, viewers can simply click on the fundi sticker, a button present on all live streams, to send their desired contribution. The contributions can be as little as just a dollar at a time. All charges are secure via online payment company Stripe which would then connect to your bank account. In addition, Fundi leverages Twitch’s open API.
According to the creators, this will help in processing payments more quickly. For example, through Fundi people can now pay an instructor without going through multiple sites or unnecessary steps. This can help live streamers earn money and also allow consumers to pay throughout the experience versus a pay gate upfront.
What Fundi is Offering
Fundi offers free access for live stream content producers and fans. This comes with an easy sign-up, registration and unlimited streaming on the platform. Furthermore, no download is required, because talent can access the web-based platform by creating a Twitch account. Viewers and donors however don’t need a Twitch account.
Fundi’s offering comes with a privacy guarantee. It assures users their information is secure and will not be repurposed or sold for any reason.
The donations will go directly to the talent. Fundi’s processing fee on top of each transaction will go directly to the talent to help offset their transaction fees. Thus, live streamers are eligible to receive 100% of the funding and just have to pass through the fees.
The solution will no doubt support the live-streaming sector that has in recent times seen a peak in users and content as a consequence of social distancing cause by the COVID-19 epidemic.
Lives streaming which is simultaneously recording and broadcasting in real-time has in recent times been the go-to communications solution in the wake of the outbreak. whether it is attending classes, conducting meetings or working out with your instructor live streaming has helped fill in the void brought by social distancing.
According to the creators Fundi is created to help live stream content producers in this time during and post-COVID-19 period. Viewers in return will get to learn and enjoy something new, and the talent gets to make a living.
“COVID-19 created an interesting and dramatic shift in consumer behavior that we believe will endure beyond the pandemic: live streams became the normal way to take a fitness class, learn a new recipe, and tune into concerts,” said Christopher Neff, Executive Director of Creative Technology & Innovation, the community.
For some years now platforms such as Facebook, YouTube, Twitch and Periscope started using live streaming for promotions and celebrity events as well as facilitate interactions among users. Initially popular among game streaming and sporting events live stream has over the years gone mainstream.
The relative ease of live stream has made it accessible across the board. All one needs to be able to live stream is an internet-enabled device. This can be a smartphone or tablet and a website or application to broadcast on. This has spurned seemingly unending possibilities for live streaming from performances, online fundraisers, cooking classes, to Q&As.
Lives streamers can charge audiences for exclusive or on-demand access to their streams allowing them steady streams of revenues.
Growth of Live Streaming
Prior to the COVID-19 outbreak last year the global video streaming market size was pegged at $ 42.6 billion. Earnings are expected to grow by an average of 20.4% from 2020 to 2027. This in part due to innovations such as blockchain technology and Artificial Intelligence (AI) that help to improve video quality and in return further boost the market growth.
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Samson: Is Fundi only working with Twitch, or could you use other live streaming tools?
Hi Martin, yes Fundi in its current offering only works with Twitch.