YouTube introduces new 'Jewels' virtual currency for gifting creators during live streams

YouTube has launched a new feature called "gifts" for vertical live streams, enabling viewers to support creators through a virtual currency system known as "Jewels". This feature is akin to TikTok's "Live Gifting" or Twitch's "Bits," where users buy virtual currencies to send digital gifts to creators.

In YouTube's version, viewers purchase Jewels, which can be used during live streams to send gifts. These gifts are then converted into Rubies for creators, with each Ruby equivalent to one cent. For example, 100 Rubies would translate to $1, offering creators a way to earn based on the number of Rubies they collect. TikTok uses a similar system with Coins and Diamonds but faces criticism for encouraging overspending, especially among younger users.

Currently, YouTube's Jewels feature is available only to U.S. creators and viewers and is limited to vertical live streams on the YouTube mobile app, targeting mobile-first users.