The digital media industry is at an inflection point, facing the challenge of delivering trustworthy news in an era of information overload. Web3 and blockchain technology are emerging as potential game-changers, offering a fundamental redesign of how media and journalism work. This article examines key examples of blockchain and web3 applications in the media industry, tracks the evolution of PUBLISH, and considers how these technologies could shape the future of news and journalism.
Blockchain and Web3 in the media: Important examples
One of the first and most ambitious attempts to integrate blockchain into the media was Civila platform designed to improve the transparency and trustworthiness of journalism through decentralized technology. Civil enabled news organizations to operate independently within a decentralized network where readers could use Civil tokens to rate and directly support high-quality content. Despite its visionary approach, Civil struggled to build a sustainable user base and ceased operations in 2020. Civil’s story highlights the challenges of user adoption and sustainability, even for innovative projects in the blockchain space.
Another notable example is Steemita blockchain-based social media platform that rewarded users with cryptocurrency for creating and curating content. Steemit’s decentralized economic model aimed to fairly compensate content creators based on the engagement their posts received. Although Steemit initially gained significant traction, it eventually faced challenges due to its complex reward system and the volatility of the cryptocurrency market. Steemit exemplifies both the promise and challenges of integrating blockchain into media reward systems.
Mirror offers a recent success story in the blockchain media space. This platform allows authors to publish content and mint it as NFTs (Non-Fungible Tokens) that can be purchased by readers. Mirror provides a clear framework for owning and monetizing digital content, offering authors direct financial rewards without any middlemen. As a thriving project, Mirror is an example of how blockchain can be successfully integrated into media and publishing, and highlights the potential of Web3 in the industry.
Recently, Story log has emerged as a new player, attracting attention with its approach to content creation and ownership transfer. Story Protocol allows creators to register their works on the blockchain, ensuring copyright protection, while readers can subscribe or purchase content directly. The protocol’s standout feature is that it gives creators full ownership of their works and allows them to interact directly with their audience without any middlemen. This model provides creators with more control and a fairer revenue share compared to traditional centralized methods of content distribution.
PUBLISH protocol
PUBLISH has pioneered the integration of Web3 and blockchain technology into digital newsrooms, driving innovation in media. Originally focused on digitizing newsrooms, PUBLISH has evolved to improve transparency, trust and content ownership through various blockchain solutions. The platform aims to create an economic system where readers and news organizations can interact directly, going beyond mere technological improvements.
One of PUBLISH’s notable achievements was the transformation of the “Hunminjeongeum Haeryebon,” an ancient Korean manuscript, into an NFT. This effort not only secured the digital copyright of a cultural artifact, but also demonstrated how blockchain technology can preserve and promote cultural heritage. Just as King Sejong revolutionized language with the creation of Hangul, news and journalism require a similar scientific and systematic transformation driven by blockchain.
Building on these experiences, PUBLISH continues to evolve and focuses on increasing trust and transparency in journalism through Web3 technology. PUBLISH 2.0 aims to strengthen interaction between media and readers, clarify content ownership and establish a fair remuneration system. This initiative marks a significant shift in the media and journalism industry and aims for a more decentralized and transparent future.
The future of Web3 in the media
In the future, the application of Web3 in media and journalism will likely bring a redefinition of content ownership, decentralized journalism, transparent advertising systems, and community-driven decision-making. These changes will not just be technological; they will fundamentally change the industry’s paradigm. However, such a shift will not be easy. The adoption of Web3 technology may clash with existing centralized systems, and there will be challenges in the areas of training and infrastructure to support this transition.
Despite these hurdles, PUBLISH is committed to driving this innovation forward. The company remains focused on using Web3 technology to increase transparency and trust in journalism while building a sustainable, user-centric media ecosystem. Through these efforts, PUBLISH aims to contribute to a future where everyone has access to fair and reliable information.
TokenPost | (email protected)
