Issue #9: Is this the LinkedIn of web3?
Happy Monday and a big welcome to the 37 new subscribers who have joined us since last week's issue.
What's coming up below:
A new way for creators to monetise their video content.
The Linkedin of web3 launched this week.
1. A new way for video creators to monetise their content
If you've ever shared a video to Youtube, Instagram or TikTok, you probably already know that these platforms present some problems for creators. Glass is a web3 protocol that might just solve them.
Right now, when we share a video to social media, we're also handing over control of that video. They decide who to show your content to, and they do it with one goal in mind: maximising their profit.
Glass, on the other hand, allows creators to monetise their videos by selling NFTs that grant access to watch the video. Once someone has finished watching the video, they can collect it forever or sell it on to someone else.
In a world where we have endless free video content at our fingertips—much of which is rubbish, created to get the most views—this different model incentivises creators to share better video content, and consumers to become more intentional about what they watch.
How might consumers react to having to pay for the content they once accessed for free? Only time will tell. But the rapid growth of Patreon and OnlyFans a few years ago suggests that people are already open to supporting their favourite creators.
Glass raised $5m in funding last week, and I'm excited to see what comes next.
What this means for you: While Glass is still very early, we're seeing a big uptick in token-gated content across mediums, including blogs and podcasts. (That is, content that someone must hold a particular NFT to access). It's worth considering what, if any, content your brand might choose to monetise through this method.
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2. LinkedIn but make it web3
Orb, a web3 social media app built on Lens Protocol, opened access to those on its waitlist last week. I didn't make the cut, so I can't tell you what it looks like on the inside (or how it compares to the dire situation of other web3 social media apps so far).
From the outside, however, it looks promising. As with other apps built on Lens Protocol, you own your content and your audience. Its positioning is what sets it apart—currently their messaging is that it's a social media app for web3 working professionals, though I suspect this will shift as web3 evolves and we start to just call it "the internet". After all, LinkedIn doesn't call itself Web 2.0, even though it technically is.
Orb allows its users to link NFTs and POAPs (a type of NFT that proves you attended an event) to their profiles. Completed an online course? Great—you can display the NFT verifying this on your profile. Attended a conference or online event? Put the POAP on your page. Because they're stored on the blockchain, potential employers and clients can trust that you're not fluffing up your digital resume.
The longer-term implication is that, as more and more credentials become stored on the blockchain, potential employers can verify someone's education and experience—and they'll discover that I've been one subject away from finishing my master's degree for the last five years.
This isn't a pie-in-the-sky future dream. Here in Australia, the NSW Universities Admissions Centre started storing students' Australian Tertiary Admission Rank (ATAR) documents on the blockchain in 2017.
The question is, how long will it be until LinkedIn adds the ability to display NFTs on your profile—like you now can on Instagram and Facebook?
If you've made it all the way down here, that means either you found this interesting, or you're on your way to the unsubscribe button at the bottom.
Either way, I'd love it if you could please take 2 minutes to let me know how I'm doing. What would you like to see more of? Less of?
Until next week,
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