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Brendan Woodward's avatar

Thought provoking indeed! As a novice writer this is great perspective to take on board. Now to follow WIP Publishing on Twitter and follow up on the other names you mentioned!

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DefiDoctR's avatar

I've thought extensively about how to most effectively utilize NFT technology as a tool. I've created several "schematics", so to speak, regarding how I think it could work for various different markets. NFT's have the potential to bring not only ownership of material, whether it be written word, music, art, etc... but the freedom for the individual to create it freely in the first place. No middleman, no publishing company/producers, just a creator and their work.

You write an article and post it to 12 different blogs (probably more), because those 12 blogs are visited by 12 different groups of people that appreciate your work on their 12 different preferred platforms because the platforms are 12 different colors and each group likes their own color. They have the right to do so since you can not change their preference. What you can change is the delivery method. NFT's are, in many ways, like a key. I mean heck, in some cases they are LITERALLY a key to access content.

Content creation sites would benefit greatly from the creation and implementation of a decentralized "ledger" of creators. I envision it as a network that is fully based on NFT's that incorporates social media, blogs, art viewing, music, video, podcasts, and even Etsy-like content. Step 1, you write an article, you mint it into an NFT. Now you want to post it to be read. Step 2, you secure access by staking/delegating network tokens to sites/dapps/etc... you want to post to that have joined the network. Step 3, you submit your NFT to be posted into the central ledger (art, article, music, etc...) and it is routed to the locations you have chosen to stake/delegate tokens to for access. Step 4, readers/viewers/listeners can then access your work and freely partake of it. They can "tip", "subscribe", "donate", or whatever you want to call it as appreciation for the work. Anonymous "traffic" is tracked and you as the content creator get rewards based on an algorithm that takes your staked amount and traffic generated by your content into account. Rewards are distributed on a schedule, like other platforms, and you can then either cash out, delegate to more locations to increase distribution, or increase delegation to existing locations that are successful to increase rewards profits. I mean, I don't know if this already exists... it very well could... but I have been working on the roadmap as a hobby in my spare time because it just seems like something that could be very efficient and beneficial to creators as well as rewarding to distribution platforms.

Who knows where the road will lead!

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