Posted 7 months ago | by Catoshi Nakamoto

Web 3 is coming, and it promises to change the game for good. Why? Because it all comes down to one key word: decentralization. Think of it like this: Web 1 had us rely on that guy Jeeves; the world’s least helpful Butler. Web 2 then saw him replaced by a baby-faced teenager who – unsurprisingly – turned out to be evil (with Zuckerberg’s head on!). But, and here’s the good news: Web 3 is the next big thing, because it can hand power back to its rightful owners. Us. The people. Content creators and consumers alike. Today, in a sponsored video, we’ll be taking a look at an exciting new project that could totally transform how information is accessed online. It’s called Unlock protocol. And it might just be a pretty big deal. Trust me, you don’t want to miss this one.

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Let’s get it.

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Web3 Crypto set for PUMP (Revolutionary Blockchain Token for Content Creators)

Unlock Protocol plans to live up to its name by, you guessed it, unlocking the web. Specifically, by harnessing the power of blockchain to allow content to be monetized in a new and decentralized way. Why’s this such a big deal? Well, so far, the internet has faced a kind of impossible dilemma: between asking consumers to sign up for paid subscriptions, which nobody wants to do, and using ad supported networks that reward page views which is also what nobody wants. Creators are paid based on stealing our attention, instead of expanding our horizons. That’s Web 2.0 in a nutshell. And it’s meant faceless, unaccountable entities like Google and Facebook have cornered two key markets: attention and distribution. In effect, giving them total control over both supply and demand. It also created a whole range of different gatekeepers and intermediaries whose sole purpose was to connect creators with their respective communities: I’m talking Patreon, Netflix, Spotify – companies who lend out their platform while taking a massive chunk of the pie. That’s great for them, sure, but it means that creators aren’t just losing out financially, they’re also under the thumb of giant tech companies who can censor them with impunity, or change the rules without warning. Something we’ve had direct experience of here at BitBoy Crypto. I mean, just last week, Anthony Pompliano’s Best Business channel was deleted with zero explanation.

Unlock Protocol seeks to solve this dilemma by bringing content creation to the blockchain era, making it fully peer-to-peer, by allowing ‘creators to monetize without relying on middlemen.’ And like the name suggests, it’s not an all-powerful centralised platform, but a protocol that returns subscriptions and access from the gatekeepers, puts it straight into the hands of the creators, and creates a fundamentally new business model for the web.

So what does that look like in practice? Well, in simple terms, Unlock allows creators to deploy smart contracts on their websites that restrict access to those who have the right key: keys that come in the form of non-fungible tokens. It’s what NFT people have been saying for years: in terms of their potential use case, expensive JPEG’s are just the tip of the iceberg. So don’t worry: it’s not about paying for access to content with an overpriced picture of a rock, but instead a kind of non-fungible members pass that can be used again and again, and which allows transactions to take place on the blockchain, totally peer-to-peer, directly between consumer and creator.

I mean, if you’re looking for a crystal clear use case, then this it folks: an online economy based around membership instead of attention. Crucially, membership that can exist across multiple platforms. This is big stuff, and it’s why Unlock Protocol has already been integrated by major players including none other than Forbes Magazine. Forbes have deployed 2 locks: the first offers a month long ad-free access to their site, the second offers the same but only for a week. And for the user, all you need is a crypto-enabled browser, a Web 3 wallet like Metamask, and you can purchase the keys with a few clicks and a couple bucks worth of Eth. Speaking of which, Unlock Protocol was built on Ethereum but works on multiple chains like DAI and Polygon, with integrations to Avalanche and Arbitrum coming soon. Any viewers using the MyCrypto wallet manager will probably be ahead of the game here, since they recently integrated Unlock for their memberships, with the added bonus of an airdrop of 1UDT – the protocol’s governance token – made available to its users.

In terms of current integrations, the Unlock community has deployed plug-ins on a wide range of platforms and softwares: Cloudflare, Discord, Discourse, Drupal, Known, Shopify, StreamLabs, Squarespace, Webflow, WordPress, firebase – all of them can now make full use of Unlocks code to connect creators with their communities. Do you see what I’m getting at here? How transformative this new kind of model could be? Its use case is huge. Huge. Just think about the amount of content out there that could be locked up for members using the protocol.

But hey, don’t just take my word for it: look at who’s backing this. Heavyweights like Consensys. Coinbase Ventures. And more recently, GMG Ventures, a fund backed by the parent company of The Guardian newspaper, who we can assume are eyeing up new and innovative ways to monetize their material. And you see that friendly looking face? That’s Unlock Protocol’s founder Julien Genestoux. Because as always, no matter how groundbreaking a project might sound, it’s meaningless if those behind the wheel can’t get it over the line. Well, Julien has some very impressive credentials and they all relate to the problem he’s trying to fix. For example, he built Superfeedr, an RSS feed API, which was purchased by Medium where he then became a lead developer. In short, he knows this part of the space like he back of his hand, and has a track record of delivering the goods. But just as importantly, he’s a self-declared open web nerd. He’s values-driven. Which is why, from the get-go, Unlock’s goal has always been to build a ‘shared infrastructure’ that ultimately belongs to the users.

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Just recently they announced the Unlock DAO, which will hand governance over to all holders of the UDT token, giving control and power to the developers, creators and users of the protocol. Proposals can be submitted by anyone, and on the basis that not all token holders will want to actively vote, they also have the option to delegate their holdings to representatives, with a super clear and well-laid out set of governance procedures.

If you can see the potential here, which I’m sure you can, chances are you’re wondering where you can pick up some UDT and get involved. Well, it’s currently tradeable on Uniswap, and 1inch.

For a project with backing from the likes of Coinbase Ventures, it has a teeny, tiny market cap, a max supply of a 1 million, and a circulating supply of only 48 million, with new coins added to the supply as more key purchases are made. So looking beyond the obvious upside potential here, UDT also comes with a host of added incentives, since the protocol is tailor-made to encourage and reward referrals. So when you unlock something with your NFT key, the protocol can see which links you share and if it results in other people buying their own set of keys. As a reward, you then receive discount tokens to access content at lower prices.

People, this is network effect in action. A protocol where users who’ve unlocked the best content are incentivized to share it: which is clearly to the benefit of creators, and clearly to the benefit of consumers. A system that serves the needs of both: something we’ve literally never seen before in all of history. If you can’t see what a major deal this could be, then, well, as Satoshi once said, ‘if you don’t believe it or don’t get it, I don’t have the time to try to convince you.

But that’s all I got. Be blessed. BitBoy Out.


About Catoshi Nakamoto

c6ea0c3794492f30883e516d39b2597a?s=90&d=blank&r=g Web3 Crypto set for PUMP (Revolutionary Blockchain Token for Content Creators)Activist/Journalist, former writer - We Are Change, The Mind Unleashed, Coinivore, others. Currently writing for - Activist Post and Bitboy Crypto. Not Right or Left Apolitical. I Care About Truths (CATS.) Cryptocurrency enthusiast, I mined and lost 100+ BTC in 2010-2011. I work with - Bitboy, SoMee, CEEK, Presearch, and W3BT aka FMW Media Group. Friend of mostly everyone who isn't a dick. Just A Cool Cat.