As you should know by now, WUBITS is the world’s first Web3 content monetization platform that allows content creators to own their monetization and get paid directly in crypto. It’s built on Polygon, the Layer 2 Ethereum scaling solution.
After their Polygon collaboration announcement, it’s clear that WUBITS is serious about the benefits offered by the Layer 2 Ethereum chain. Here’s how WUBITS benefits from the collaboration and how it influenced their long-term vision.
Project founders have one main issue when deciding which chains to launch. Do they want to focus on the short or long term? For WUBITS, the long-term vision is to enable thousands of users to consistently use the platform in the near future.
This long-term mindset pushed the WUBITS founders into their Polygon decision, which was a no-brainer for them. You can find their official Polygon collaboration and recognition announcement here.
How Creators are Paid
Creators on WUBITS have complete control over their monetization. This means it’s up to them to post their content as free or premium; they only get paid if a user buys their premium content. The great thing is because WUBITS is a dApp, they’re rewarded directly into their crypto wallet, no questions asked.
Here’s an example of how controlling your own monetization schedule on WUBITS works. Let’s say you provide content to your audience, and now you want to deliver premium paid content that you’ve worked extra hard on. Instead of hoping that the algorithm picks your content up, so you receive a portion of ad revenue, you instead head over to the monetization bar on your WUBITS post:
As you can see from the image above, the creator can set the cost of ‘unlocking’ the post to whatever they see fit. The market will ultimately decide how valuable my content is based on the percentage of my audience that chooses to pay for the content. On top of that, the creator can choose from ETH / MATIC or stablecoins deployed on either chain as payment. As long as they have the correct wallet linked, any payment will go straight into their wallet.
So the post is set up, but what does it look like from a reader’s perspective?
- Shown above is a prime example of what premium content looks like on the WUBITS platform. The information readily available to the viewer is:
- The creator’s handle.
- A basic overview of the content (Trade setup for Microsoft).
- Matrix code covering both text and image.
The team chose the matrix design to add a layer of mystery while still showing the content you should expect to receive. In the example above, we can clearly see there are three sentences of hidden text and one main image.
Another quality-of-life feature the WUBITS platform offers is the exact price you will pay for the content. Above, we can see the post costs one MATIC, currently worth $0.93. WUBITS price algorithm is constantly updated to ensure prices are accurate. The post is not worth $0.93; it’s worth one MATIC, which just happens to be $0.93 at the time of reading. This is all in the spirit of making WUBITS a crypto-native platform.
Another feature WUBITS offers is the ability to quickly filter between free and premium content at the touch of a button. If you want to browse more premium content, head to their premium section here. This enables WUBITS to operate as a regular social media platform with a premium section attached.
Why Would I Buy What I Cannot See?
A question you may keep asking yourself is, why would I buy what I cannot see? The question seems legitimate until we take a step back and look at other monetization models currently offered. Patreon, for example, operates on a monthly subscription where users pay creators for a month of content upfront without knowing what that content will be or the quality of it.
Therefore, the difference between Patreon and a platform like WUBITS is the ability to have one-off payments, like the example shown above. Instead of paying for a whole month of content, why not just one post? Not only does this let you minimize your spending, but it also allows you to view a multitude of other creators’ premium content for the same price as a single monthly subscription. That’s the power of owning your monetization schedule.
If you like the sound of owning your monetization schedule as a creator, or being able to pick and choose what premium content you pay for, don’t miss out on joining the WUBITS platform. Also, consider following them on their socials as they continually release more quality-of-life updates for the platform.
Remember, earning directly in crypto is only a post away!