The best part about Mirror is you will be paid as a writer in cryptocurrency (Ethereum). This is a dream for me. The ways you can earn money on Mirror are wide and varied from what I can see.
Quick note to simplify what you’re about to read: an NFT is a smart contract that reflects digital ownership. An NFT is then stored on the blockchain, making it easy to transfer and divide up into smaller pieces.
A piece of writing can be an NFT. WOW.
You can earn money on Mirror.xyz by:
- Getting tips from readers.
2. Your story becomes an NFT. An NFT can be sold at an auction to readers who seek to own it, or the NFT of your story can be sold to a publication. The beauty with NFTs is there are options for the creator to keep making money into the future. Each time the NFT is sold, the original creator can get a percentage of the profit.
3. You can crowdfund a story idea and readers can pledge money for you to write it. When the story is finished the readers get a percentage of the story’s profit. Mind blown.
4. You can embed your own NFTs or those owned by other content creators in your story and make money from them. (Think of it like this: the more an NFT is shared of a written story, jpeg, or mp3 the more value it has.)
5. No doubt the ability to make money from ads or charge a subscription to your writing will come later.
6. You can add an old-fashioned call-to-action link at the end of your story that leads to an email list where you sell a course, eBook, or coaching.
There is a split feature too. You can see at the end of a story where the revenue from the content goes. You could co-write a story with a friend and set the split of earnings from the story as 50/50.
You can even add a charitable split to your story, so, for example, 20% of your story’s earnings go to a cause you care about. Your stories could literally fund homeless shelters. Or the topic you passionately write about can become part of the solution to the problem through the money it creates. Any sources or people you cite in your writing could also receive a portion of the earnings. Here’s what an earnings split among writers and sources looks like.
Making money as a writer is about to get interesting. The ways content creators get paid is about to transcend what many of us thought was possible. It’s essential as a writer to be hooked into new ways of earning money online, to be able to live with less stress and pay your bills.
Writers deserve to be paid for their writing. Decentralized writing platforms enable new business models for creators, finally.
As a writer for the last seven years, I’m not quitting LinkedIn and Twitter to join Mirror.xyz. I am keeping an open mind. I am going to experiment with the platform to see how it works.
Many social media apps die an early death or never find a community that is willing to invest time in them. The same could happen with Mirror.xyz.
It will be interesting to see if the recent boom in NFTs combined with blockchain is a way to solve some of the common problems writers face. For example, could clickbait be dealt with by a community of writers? Could features like engagement, time spent reading, and user behavior determine whether a piece of content is harmful or helpful, or even clickbait?
I’m not sure Mirror becomes the platform we writers go to for a way to earn money from our work, yet. What will likely happen is centralized platforms will voluntarily migrate to become decentralized platforms, inspired by Jack Dorsey’s announcement to look at making Twitter decentralized.
Decentralization may become a mandatory feature among readers and writers, rather than an option. The benefits of decentralization became clear with Bitcoin and Ethereum. Blockchain could become a writer’s best friend.
Mirror.xyz gives writers a new way of thinking about making money online.
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Source: https://bettermarketing.pub/the-first-decentralized-writing-platform-that-pays-writers-is-here-9e0fe9b2df16?source=rss——-8—————–cryptocurrency
