Tokenized Twitter & Locking It Down
Minds.com has raised another $10M for its decentralized social network and messaging.
The CEO and founder Bill Ottman is quoted saying:
Based on everything we’re seeing in crypto, even if you look at Mozilla, open source will eat software in the same way that software is eating everything.
The platform rewards participation through their own $MINDS token, and has added liquidity pooling rewards on Uniswap where you can unlock 'ad mining' (reported by Decrypt) and get your channel (this is mine) advertised within the platform. You can also spend $MINDS tokens to directly purchase advertising impressions (Minds Boost) on other channels without a middle man taking a cut.
Minds have a subscription service for creators called Minds Pro where you can offer paid content to your followers (and receive tips from them) in the $MINDS token and other cryptocurrencies as well as USD (Minds Pay). This is somewhat similar to the forthcoming Super Follows by Twitter which will only be charging followers in fiat using Stripe.
And they also have a subscription service for users called Minds Plus, similar to Medium, where a $5/m payment is shared with the creators who submit the most popular content.
Lock it down
Unlock is a blockchain protocol you can use to lock down paid content, such as paid newsletters.
For example, this URL is how The Defiant uses Unlock to charge for their newsletter content, priced in the stablecoin DAI.
Unlock itself offers a free 30 day membership by issuing an NFT which unlocks their Discord using Swordy Bot.
And they even have a Wordpress plugin and an example of how it works to unlock the story How to Fix the Web for Creators.
Right, that's it from me, I will catch you in your inbox soon.