Ads also don’t make much sense economically. They pay out arbitrarily low profits to creators based on how many eyes they can get; rather than based on the quality of their content.
These issues left me with an evident obstacle that I had to figure out how to overcome
The solution? Memberships.
but not just any memberships, these memberships will be represented on the blockchain
I found that this then opened up a new world of mind-blowing possibilities
Remember my website described in the previous tweet?
With help from Unlock Protocol, I’ve made it so that only holders of a specific NFT can view special pages on the site
Once connected, the rest of the article is revealed.
Take a look 👀
NFT holders will also be given the ability to leave comments on the website, along with many other features
& you only have to purchase them once.
Bakery NFTs can be bought with $ETH, or $USDC
They can even be purchased with a credit card, doing stablecoin txs on the back end
But it gets even more interesting.
Since these memberships are tokens on the blockchain, they are not bound to any specific platform to function.
They can be freely traded on the secondary market, bought, sold, or even lended!
(oh, and each comes with their own pastry 😉)
Example:
->Bob hears from a friend that there was alpha on croissant’s podcast in episode 222
->Bob purchases Bakery NFT and gets access
->Bob sells Bakery NFT on secondary market after viewing content
Speaking of other platforms, this Bakery NFT wouldn’t properly be showing off the capabilities of new web 3.0 technology if it weren’t platform interoperable
So… the same NFT that gives holders access to special research on the website, also grants roles in a private discord!
Still not impressed? Well, the NFT will also give newsletter access, & many other things I’m excited to share later:
(interviews, analytics, discourse, tweets, etc)
The NFTs can be integrated with just a few lines of code.
Even a partner website could use my NFT on their site!
Worried about gas? No problem!
The Bakery NFTs will be deployed on Optimism, Arbitrum, Polygon, and many other layer two networks
Interactions besides purchases only require message signing (no gas)
A percent of gas spent is also refunded on each purchase, with tokens
Don’t like my content?
Within a specific time frame users can get an instant, pro-rated refund by burning the NFT..
The memberships will have two tiers:
Tier 1 - exclusive, no time limit, limited supply, VIP access, pays out dividends of tier 2 (TBD)
By taking a look at some of the notable events happening for crypto in the last few weeks, it will help to understand exactly how fast this space moves.
It moves so extraordinarily fast… it’s almost scary.
Here is some food for thought below… 💭🥐
Just a few months ago the market was red all around.
We were hit with headline after headline, each one bashing the entire industry.
Combine this with the #Bitcoin mining ban in China, and you’d think this would line up to be the perfect “black swan,” right?
In just 6 months, my Twitter account has grown more than I could’ve ever imagined
It took hours of pure dedication and studying, but I wouldn’t of been able to do it if it weren’t for the other great researchers in the ecosystem sharing their knowledge
How exactly would 𝘺𝘰𝘶 go about creating a censorship-resistant, decentralized, public network on a global scale?
We can first start with a public ledger that anyone can add lines to, where individuals would transact and settle in fiat currency at a later time
Very quickly…
You’d start to see some very serious issues arise as more and more users come to the ledger for accounting, & that would require trust in each and every one of them
We don’t know if people are being honest when adding new lines of transactions to this ledger