Minting
Minting creator content on chain fits neatly in with our approach to decentralised hosting. It combines digital ownership, censorship resistance, monetisation, and provenance (i.e., the verification of who created the content and its history) with the decentralised video hosting and playback mechanism that Wunder will build.
What is "Minting" Content on-Chain?
Minting content on-chain involves creating a unique cryptographic representation of digital content (such as a video, image, song, or artwork) on a blockchain, often as a Non-Fungible Token (NFT) or Tokenized Asset. The minted token serves as proof of ownership and authenticity, granting the content creator control over the rights to their content and enabling unique forms of monetisation.
Minting for video creators
Minting content on-chain can be seamlessly integrated to provide a combination of benefits to video based creators, below we have outlined how this will work with Wunder:
Ownership and provenance:
When a creator uploads a video to the platform, they can mint it as an NFT or create a tokenised version of their content. This tokenized content represents ownership and guarantees that the creator is the original owner.
Provenance is important because it helps verify the originality of the content and provides a clear historical record of ownership and transactions, ensuring that creators can prove they are the rightful creators if disputes arise.
Decentralised distribution and rights management:
When you mint a video on-chain with Wunder, the metadata (e.g., title, description, thumbnail) and the content itself can be stored or referenced on the blockchain.
This system not only verifies the video’s authenticity but also allows creators to specify how their content is distributed or licensed. For example, a creator could set up rules about how their video can be used (e.g., allow or prohibit monetisation, set usage fees, or permit editing).
Monetisation through NFTs and Tokenisation:
Tokenised content will provide new revenue streams for creators. For example:
Direct Sales: Creators could mint their video as an NFT, and viewers can purchase the NFT to own a limited-edition version of the video. This gives the creator direct compensation without relying on traditional ad-based monetisation models.
Revenue Sharing: A tokenised video could include smart contract logic for revenue-sharing, where creators earn a portion of any future sale or transaction (e.g., secondary sales of the NFT).
Tipping: Viewers could send micro-payments or tips in the form of cryptocurrency or tokens to creators as a way to directly reward them for their content.
Access control and licensing:
Minting a video as an NFT can be used as a ticket for access to premium content. For instance, a creator could mint a video as an NFT and only allow those who have purchased it to view it.
Similarly, content can be licensed out as NFTs, where each NFT represents a specific license (e.g., personal use, commercial use, exclusive access). Creators can set their own licensing terms and price them accordingly, ensuring they retain control over how their content is used.
Anti-censorship and decentralised control:
Since the minting process involves creating an immutable record on the blockchain, the content becomes resistant to censorship. This means that even if wunder chooses to take down the content, the NFT and its associated metadata would remain on the blockchain, ensuring that creators retain their digital rights.
In addition, because the content is distributed via Wunders protocol, even if certain nodes go offline, the content can still be accessed from other peers, making it resilient to centralised control.
Integration with DeFi and web 3.0 ecosystem:
Minting content on-chain opens up the possibility for DeFi (Decentralized Finance) integration. For example, creators could use their NFTs or tokenized content to offer fractional ownership of videos or content through NFT staking. This creates additional avenues for creators to monetise their work.
Creators could also engage with Web3-native crowdfunding or membership models where their fans can pay tokens for exclusive access to future videos, content updates, or special perks.
Powering the future of content creation
Minting content on-chain through Wunder offers increased monetisation options, and robust rights management. By creating NFTs or tokenised versions of their content, creators can:
Ensure digital ownership and provenance.
Monetise directly through sales, royalties, and secondary transactions.
Set custom licensing rules, managing how their content is accessed and used.
Gain censorship resistance by leveraging blockchain’s immutability.
Integrating minting with decentralised video hosting and streaming enables a powerful model that blends content ownership, decentralised distribution, and cryptocurrency-based monetisation, opening up new revenue streams and ensuring creators retain full control over their digital creations.
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