Media Is Adopting A Bitcoin Standard

afromusictalk December 21, 2021 6:03 pm 0

The beneath is a direct excerpt of Marty’s Bent Issue #1133: “Media on a Bitcoin Standard.” Sign up for the newsletter here.

Bitcoin is revolutionizing media and only a few individuals are paying consideration. Your Uncle Marty is changing into extra satisfied of this by the day. Particularly as he will get extra acquainted with Podcasting 2.0, the present killer app of sensible contracts on prime of Bitcoin.

We have talked about Podcasting 2.0 on this rag earlier than however for these of you who’re unaware here is a short explainer; Podcasting 2.0 enable a podcaster to connect a bitcoin lightning community handle or a number of addresses within the RSS feed that syndicates their audio file to the entire totally different podcasting platforms and apps. Podcasting platforms and apps who need podcasters and their listeners to have the ability to reap the advantages of Podcasting 2.0 incorporate bitcoin wallets into their merchandise in order that customers can ship sats to the lightning handle(es) included within the RSS feed as they pay attention. This permits podcasters to immediately monetize their content material. Customers can ship hosts an quantity of bitcoin that they consider is commensurate with the quantity of worth they’ve gotten out of the content material. The podcaster can then distribute that worth to their workforce mechanically.

Here is what our break up appears like at TFTC.

Splitting bitcoin among the many workforce behind the TFTC podcast.

I get a strong chunk, my co-host Matt will get a strong chunk, and our producer and developer/node supervisor get a minimize for the worth they bring about to the operation. Our RSS feed acts as a wise contract as a result of that is the place we put in our addresses and the break up between the 4 of us. When freaks ship sats to the podcast they’re instantly distributed to every of us primarily based off the ratio visualized above. There isn’t a intervention on my finish to maneuver the cash aside from dumping the addresses and the splits into the RSS feed.

That is one thing quite simple, but additionally very profound as it’s going to have large implications for content material monetization as time strikes ahead. You’ll be able to start to implement the sort of direct monetization into written and video content material as effectively. Artists who produce music might benefit from this in addition to it hypercharges the flexibility for unbiased artists to interrupt away from file labels and platforms like Spotify that take a lion’s hare of the income produced by their artwork. If they will determine the right way to create a Lightning-enabled paywall for his or her songs or incorporate sats streaming so listeners pay microtransactions as they pay attention, they will immediately monetize their music and instantly pay everybody concerned with its manufacturing.

As I level out above, advertisements should be round, however they’ll act in another way. Customers utilizing Podcasting 2.0 suitable apps whereas listening to the advertisements in a podcast might doubtlessly receives a commission for that point. Advertisers might designate a portion of their advert funds to make this a actuality. Hopefully getting way more correct information on the price of consumer acquisition that enables them to make higher choices round spends.

That is only a rushed and never totally fleshed out model of the imaginative and prescient in my head. About to go meet my mother and father for dinner however hope to carry a few of these concepts to market over the following yr at TFTC. Be looking out!

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Media Is Adopting A Bitcoin Standard

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Media Is Adopting A Bitcoin Standard

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