Writing NFT — The Future of Decentralize Publishing
The Writing NFT is designed for a single web page or blog post. Publish as you write, Collect as you read.
Writing NFT vs Book Publishing
NFT technology can fulfill many functions of a traditional book publisher, such as distribution, ownership, monetization, royalties, and fundraising.
However, compared to book publishing, the general format of writings in the digital world is much more fragmented and decentralized. The most popular pieces of digital content exist as articles or even social media posts rather than books in digital format. Writing NFT is designed for the decentralized publishing ( DePub) of written work on Web3.
Writing NFT focuses on providing three things for the writer:
- Minimizing sales efforts
- Simplifying publishing flow
- Providing tools for building better writer-reader relationships
Publish as You Write — Effortless NFT Minting
Writers can easily publish their written work as Writing NFTs.
Writers can install the Writing NFT plug-in to publish posts as NFTs if their website is based on WordPress. The WordPress plug-in does the following:
- Sets the post title and tags as the NFT metadata automatically
- Stores the post content in the distributed file system (IPFS and Arweave)
- Embeds the NFT Widget at the bottom of each post for readers to collect the page as an NFT (more on this below)
After buying a Writing NFT, users will access an immutable copy of the content stored in the blockchain. This blockchain copy can be regarded as the “true copy” in Web3.
Dynamic Pricing — Get Rid of Sales Hurdle
We understand that writers prefer to focus on the creation and minimize work on sales and marketing. Writing NFTs helps creators simplify sales by automating price and quantity.
The price of each Writing NFT will be adjusted automatically according to supply and demand. Each new price is double the previous one. If there is a secondary market for the NFT, the price of the Writing NFT will be set to the lowest price in the secondary market.
There is no upper limit to the quantity of a Writing NFT. Whenever someone collects an NFT at the marked price, a new NFT will be minted for the next reader to purchase. Since the price increases automatically as the quantity increases, the market will set the circulation limit when the price gets too high.
The system automatically sets the marked price and quantity to minimize creators’ sales hurdle.
Publish Any Webpage as NFT
The Writing NFT Portal covers all writers that cannot use the WordPress plugin. Writers can copy the URL of any webpage, and after they paste it to the NFT Portal website, the webpage will be minted as a Writing NFT. The Writing Portal will collect the webpage’s graphics and title, then store the information on the blockchain using IPFS and Arweave.
Writers can also embed the Writing NFT Widget into any webpage using an iframe, but they will need to fill the “referrer” parameter with the ISCN ID generated by the NFT Portal. More details will be provided when the Portal is launched. If you have questions, feel free to contact the team at Discord.
Collect as You Read — The Embedded Vending Machine for Written Content
Readers can also collect Writing NFTs in an extremely easy way that is as easy as giving a like. An “NFT Writing Widget “ will be embedded at the bottom of a webpage using the Writing NFT WordPress plugin. It works like a vending machine, showing the current price of the Writing NFT, and readers can purchase the Writing NFT by clicking “Collect this work.”
Display Window and Store Shelf of NFT
Besides collecting content via the Writing NFT Widget, readers can also collect Writing NFTs from the writer’s Writing NFT Portfolio page. Writers and Collectors can share the links of their Writing NFT collections through their usual social media channels.
The Writing NFT Portfolio page lists all Writing NFTs and their estimated values. It is where users can transfer NFTs and sell them to the secondary market.
NFT Portfolio: Show your NFT collection, transfer NFT and sell to the secondary market
Cultivate Reader Relationships through NFT Data
It is difficult for writers to connect to readers who have bought their books in the traditional publishing industry. Decentralized Publishing by Writing NFT provides a solution since the data about who bought how many NFTs at what price are recorded transparently on the LikeCoin chain. Writers can interact with their readers by utilizing blockchain data to airdrop special content, such as limited edition NFTs, to fans who own many of their Writing NFTs.
Media platform operators can also build their own dashboards, CRM and social graphs based on the Writing NFT blockchain data. More tools for social applications are coming. Stay tuned.
Others’ Thoughts about NFT
There are more interesting and creative ideas about Writing NFT which are being explored by the Liker team:
- Using NFTs to monetize social links directly, e.g. buying an NFT to follow writers
- Giving special recognition to owners of many Writing NFTs to acknowledge their contributions to supporting creativity
- Providing special bonuses after completing an NFT collection, e.g., all Writing NFTs of an author.
We believe that NFTs can represent anything on Web3 in the long run, and Writing NFTs are the next big use-case since textual work such as articles, novels, essays, journalism, etc., play such an important role in human cultures.
Originally published at https://blog.like.co on July 20, 2022.
