Daily feed｜The Block Launches Access Paywall Pilot Project｜Will Web3.0 Innovative Subscription Model Subvert the Media Industry?

The Block, a well-known blockchain media, recently announced its participation in the trial of the Web3 paywall protocol Access Protocol, hoping to create a win-win situation for readers and creators by increasing media subscription rates, content monetization capabilities, and enhancing reader subscription flexibility.

Let's review the relationship between readers and the media. There are generally two charging models for the current media:

1. Show readers for free, then pay advertisers for the click
2. The main feature is zero advertising, and then high-quality articles/creations are sold to readers, usually on a subscription basis.
3. A hybrid model that strikes a balance between ad volume and subscription costs.

However, this approach is not the best practice for readers and creators.

For readers, subscribing to a media is equivalent to paying for the content of a package on a regular basis, but in fact you do not read all the content, and not all the content is what you want, and many subscription systems are based on half a year/year. , the trial cost is huge.

As far as the media is concerned, charging by click will lead to the chaos of the headline party, which will affect the entire ecology, and readers will not be able to efficiently use resources to support individual high-quality content, making it a natural elimination cycle. The existing subscription system has also failed to effectively monetize the content.

The Access Protocol just mentioned was born to address these issues. Under this charging model, users do not need to pay in advance or participate in a long-term subscription plan.

It will issue Access Protocol's ACS tokens through the Tokenomics token economy model, and form an ecosystem with $ACS, allowing consumers to support their creators by themselves.

Taking The Block as an example, users can Stake-to-read to unlock The Block's content by buying and "staking" a small amount of $ACS.

If you don't understand, I can explain it, it means that you spend money to buy its coins (a very small amount), then keep it, lock it up for a period of time and not sell it, then you can read their content for free.

So in theory, you can read for free. If their currency price rises, you can also have additional income from the spread. Only when the currency price drops sharply, there will be losses, but if you lose, you will actually be paid for reading. what a big deal.

As for creators, the CEO of The Block said that under the Access Protocol, creators will not be charged any fees, nor will they take a cut. The platform can directly link creators' fund pools and users' wallets through $ACS.

According to him, this solution has several advantages:

1. Less headline party - creators are more motivated to create high-quality content for users to give readers to gain their actual support. Those title parties that are golden and jade will be naturally eliminated by users in the way of "stop staking"/non-support in the long run.
2. Easy login - You can interact with creators through Web3 wallets (eg MetaMask), without the need to register and manage multiple accounts. (This can refer to the article "Web 3.0 officially moved from the chain to public life?" the day before yesterday)
3. The threshold for user participation is lowered - as mentioned above, users only need to buy $ACS to unlock the content without selling it, so the subscription system changes from paid to free, and it does not need to pay by credit card every month or year. required content.

However, the key to this model is how to maintain the value of $ACS and keep it from fluctuating wildly for a long time.

Users will buy and pledge $ACS, so the demand will increase as the coverage of the platform increases. Assuming other factors remain unchanged, the earlier the person joins, the lower the cost, and the $ACS will become more and more valuable, making it an investment value .

At the same time, the more active the platform is, the more people will participate in the reward, which will stimulate the demand for $ACS, and finally make $ACS valuable in the long run, forming a virtuous circle.

Of course, this is an ideal situation. In fact, it depends on how the platform exerts its influence, grows, and manages the currency price.

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