The under is a direct excerpt of Marty’s Bent Issue #1133: “Media on a Bitcoin Standard.” Sign up for the newsletter here.
Bitcoin is revolutionizing media and only a few persons are paying consideration. Your Uncle Marty is changing into extra satisfied of this by the day. Particularly as he will get extra acquainted with Podcasting 2.0, the present killer app of sensible contracts on prime of Bitcoin.
We have talked about Podcasting 2.0 on this rag earlier than however for these of you who’re unaware here is a quick explainer; Podcasting 2.0 enable a podcaster to connect a bitcoin lightning community deal with or a number of addresses within the RSS feed that syndicates their audio file to the entire totally different podcasting platforms and apps. Podcasting platforms and apps who need podcasters and their listeners to have the ability to reap the advantages of Podcasting 2.0 incorporate bitcoin wallets into their merchandise in order that customers can ship sats to the lightning deal with(es) included within the RSS feed as they hear. This permits podcasters to immediately monetize their content material. Customers can ship hosts an quantity of bitcoin that they imagine is commensurate with the quantity of worth they’ve gotten out of the content material. The podcaster can then distribute that worth to their group robotically.
Here is what our break up seems to be like at TFTC.
Splitting bitcoin among the many group behind the TFTC podcast.
I get a stable chunk, my co-host Matt will get a stable chunk, and our producer and developer/node supervisor get a minimize for the worth they carry to the operation. Our RSS feed acts as a sensible contract as a result of that is the place we put in our addresses and the break up between the 4 of us. When freaks ship sats to the podcast they’re instantly distributed to every of us primarily based off the ratio visualized above. There isn’t any intervention on my finish to maneuver the cash aside from dumping the addresses and the splits into the RSS feed.
That is one thing quite simple, but additionally very profound as it’s going to have large implications for content material monetization as time strikes ahead. You possibly can start to implement this kind of direct monetization into written and video content material as effectively. Artists who produce music might make the most of this in addition to it hypercharges the flexibility for impartial artists to interrupt away from file labels and platforms like Spotify that take a lion’s hare of the income produced by their artwork. If they will work out learn how to create a Lightning-enabled paywall for his or her songs or incorporate sats streaming so listeners pay microtransactions as they hear, they will immediately monetize their music and instantly pay everybody concerned with its manufacturing.
As I level out above, advertisements should still be round, however they’ll act in another way. Customers utilizing Podcasting 2.0 suitable apps whereas listening to the advertisements in a podcast might probably receives a commission for that point. Advertisers might designate a portion of their advert finances to make this a actuality. Hopefully getting far more correct information on the price of person acquisition that enables them to make higher selections round spends.
That is only a rushed and never completely fleshed out model of the imaginative and prescient in my head. About to go meet my dad and mom for dinner however hope to convey a few of these concepts to market over the subsequent 12 months at TFTC. Be looking out!
