The creator economy has become a $100 billion market thanks to the rise of social media and digital content. However, it’s bound mainly by centralized content platforms, leaving dismal incentives for actual creators to provide better content for audiences. YouTube’s latest efforts to compete with TikTok and Instagram, YouTube Shorts, is notorious for giving minimal gains for creators and Twitter recently started paying peanuts for content creators.
Content creators are looking for new ways to reclaim their control over the content, which could enable communities to discover their preferred content, protect users from data violation and ensure a more balanced distribution of traffic and earnings for all parties. Web3 puts creators and users back in the driver’s seat by providing transparent, traceable, scalable content distribution opportunities.
Unlike centralized platforms that take away creative freedom from content creators, Web3-friendly platforms aim to incentivize better content creation through a community-driven economy.
ReadON, a Web2-compatible decentralized content platform, has joined the Cointelegraph Accelerator program to introduce a new way to interact with content through Web3 solutions to a global audience. ReadON uses blockchain technology’s openness, transparency, and immutability to give users more control. By giving ownership to content creators, the project wants to establish a more equitable digital information ecosystem overall.
ReadON utilizes content contracts to establish a unified distribution layer with a standardized format. These contracts define essential components such as titles, subtitles and format standards for article bodies and ensure scalability to accommodate diverse content styles and app compatibility, all while preserving the integrity of the content. The project concluded a $2-million seed round and supports English, Japanese, Korean, Russian, Bahasa, Spanish and Vietnamese languages.
How blockchain-based content verification works on Web2 platforms. Source: ReadON
To ensure ownership transparency, ReadON uses a unique string generation tool that simplifies the user and content verification process. This unique string can be embedded into the content as a watermark or automatically into the URL. ReadON is also working with popular platforms such as Medium and WordPress to develop plugins that streamline authentication, allowing any Web2 publishing platform to adopt ReadON’s content ownership model..
Community curation feature, eliminating centralized black boxes and algorithmic biases. Source: ReadON
Available on both iOS and Android platforms, ReadON’s mobile apps have approximately 30,000 daily active users with over 392,000 user registrations and more than 513,000 pieces of published content. The main user base is located in emerging blockchain markets such as Japan, South Korea, India, Vietnam, and Malaysia.
In addition, the mobile app has recently launched Pick, a democratized curation feature enabling users to vote for their favorite content and actively participate in the community’s content recommendation process. This new feature addresses the issues raised by the opaque content distribution algorithm in the centralized web environment. The Pick feature is an on-chain operation, and the project has deployed contracts on Arbitrum, zkSync, and BNB Chain. User votes are recorded with over 2,000 on-chain interactions daily.
Recognizing the ReadON team’s solid background and robust social app development and engineering expertise, Cointelegraph Accelerator selected the project as a program participant. This partnership will provide ReadON valuable support and guidance on its Web3 journey, including workshops with industry experts, assistance in developing marketing strategies, and access to Cointelegraph’s media expertise.
By joining the program, ReadON aims to capitalize on its strong product development and engineering foundation while leveraging the resources, knowledge and network offered by Cointelegraph. Alloying the strong enthusiasm in cryptocurrencies of audiences from emerging markets with globally influential industry insights will enable ReadON to build a content bridge into the crypto world.
Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain in this sponsored article, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.
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