Are NFT Writing Platforms The Future of Writing?
How writers are leveraging Web3 and the blockchain. NFTs make articles uncensorable and provide proof of ownership.
Online writing platforms have been around for some time. Of late, writers have different options for different interests. There’s Newsbreak for politics and world affairs, Substack for newsletters, and Medium for self-help articles.
But these platforms have one big problem — the power imbalance between writers and the platform. Writers can lose their accounts for writing about opposing views of the platform company. They lose their account for no reason.
NFT writing platforms hope to change the above situation by taking a different approach.
What are NFT Writing Platforms?
NFT writing platforms are similar to normal publishing platforms, with one small distinction. When you post an article, you create an NFT. An NFT is a non-fungible token that is stored on the blockchain.
NFTs give writers versatility and control. Since it is stored on the immutable blockchain, it cannot be deleted. It can also act as a digital collectible that can be sold to followers. NFTs can have unlockable content which grants buyers free courses, coupon codes, etc.
These platforms also have features that other platforms offer, such as likes, comments, follows, etc. They are similar in almost every way except for publishing.
The system of payouts for writers is better as writers are paid in crypto directly to their address based on the engagement of their articles.
The Benefits of Writing NFTs
NFTs, in the world of writing, offer numerous benefits to both writers and readers.
Here are some of the key benefits of writing NFTs:
- Decentralization: NFTs are decentralized, meaning that they are not controlled by any central authority. This makes them a perfect fit for writers who want to maintain creative control over their work without the interference of traditional gatekeepers like publishers or distributors. NFTs also allow writers to interact directly with their readers and fans, creating a more intimate and meaningful relationship between the two.
- Creative control: NFTs give writers full creative control over their work. This means that they can decide how their writing is presented, distributed, and consumed. This is particularly beneficial for writers who have unique or experimental ideas that may not fit within the constraints of traditional publishing.
- Unlockable content: NFTs can also be used to create unlockable content. For example, a writer could sell an NFT that gives the owner access to exclusive content, such as a behind-the-scenes look at the writing process or additional articles or free courses. This provides an additional revenue stream for writers while also giving readers an extra incentive to purchase their work.
- Royalties: Another significant benefit of writing NFTs is the ability to receive royalties on secondary sales. Whenever an NFT is sold on a secondary market, the original creator can receive a percentage of the sale price. This means that writers can continue to earn money from their work long after it has been sold initially.
In conclusion, writing NFTs offer numerous benefits for writers and readers alike. NFTs provide a new and exciting way for writers to monetize their work while maintaining full ownership and control over it.
How to Mint a Writing NFT
The process of minting a writing NFT starts with, well, writing an article. You can use the platform's editor to draft your article. Both dArticle and Mirror offer editors for you to flesh out your article.
Once you are done with your article, click on submit. In dArticle, this opens up your Metamask for you to sign a transaction. Minting an NFT is free because of gasless-meta transactions, and you only have to sign the transaction.
Once you are done signing the transaction, dArticle creates an NFT out of your article, and you can see it on the blockchain.
It’s that simple.
You can share your article on social media and react to your followers' comments.
The more you share your article, the more engagement you will get. Don’t forget to collect your hard-earned rewards at the end of every month.
You are viewing an NFT