Collective earnings via NFT's and crypto 💰
Mirror is a tool that helps you to write content, and to monetize it through NFT's. The idea is quite interesting and simple.
With the whole discourse on creator economy and the absence of the middle class the idea of splitting profits definitely crossed my mind.
My idea was helping the creators:
- with creator funds
- creator collectives that share the audience with each other and lift each other up
- creator cross-promotion marketplaces
And here's where Mirror comes in. The platform is automatically creating an NFT that based on the activity, views and engagement with your content piece increases it's price. That you can later split with your co-writers or collaborators.
Sari Azout wrote a very interesting blog post on the Web 3.0 and the future of the Internet, posted on Mirror. And the revenue is split with her collaborators.
I don't want to do a TL;DR, because honestly I love the cause and want more attention to this business model. Very curious to see where this will go and how community can fit in all of this.
Creators budgets 🐦
I saw this tweet, and swallowed a big red pill. While I'm deep into the creator economy, I feel like everything is unicorns and roses. However, hard fact is that platforms still own the revenue and content.
And here rises the question: what it means to own the content and own a platform as a creator?
Curiosity corner 🤓
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In this episode of Communities Show we talked about the impostor syndrome that we have. How to ask for money? When to ask for money? We're not experts, but we all have impostor syndrome and had to fight it at some point.
3/ Study Hall
Study hall is my very recent discovery. I classify myself as a media worker and most content creators are also actively working in media. Study hall is a newsletter and community about media industry, for media workers. They not only provide a very resourceful free edition of the newsletter, but also have very supportive community for people who wants to get more connections in media industry.
This twitter thread is a goldmine of statistics and numbers about one of the most successful paid newsletters - The Generalist. Its very rare to see this kind of transparency so if you plan to go paid you definitely need to check that out.
The numbers definitely reinforce that notion that you need to have a huge free subscriber base to successfully transition to paid. From 33,000 subscribers only 600 converted to paid. And one of the reason for termination of subscription is "did not figure out where to join the community". Which is very interesting information. Overall I think for the niche that Generalist is targeting (investors, finance sector, founders who are raising or going public) the number of subscribers and pricing strategy makes total sense.
Do you have a newsletter? And do you plan to make it paid at some point?
With 💛 from Armenia.
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