Text-based media and content creation are not always single-sourced. Often it takes multiple creators to build a great story. What’s more, many of these creators may only be reachable via the network effects of the internet.
Typically, writers fully complete a piece before monetizing it, as is the case with books, traditional news journalism, or even Substack. Other types of online text-based media that often are collaborative, like Reddit posts around topics of shared interest, go unmonetized.
What if Reddit threads could be fully monetized? With the power of Ethereum, we can now use NFTs to encourage anonymous writer collaboration on shared stories and bring economic benefit to creators each step of the way. In any written media, content creators can often build something even more resonant when they’re working together; and through pull request approval they can keep the idea true to their original intent.
The goals of MintingPress are simple:
Foster collaboration among like minded individuals
Compensate authors fairly based on the magnitude and timing of their contributions
Preserve and even augment the creative process
We are using a bonding curve with the bancor formula in order to fractionalize the NFT which helps us allocate to the different users tokens depending on their contributions. Used hardhat to test and openzeppelin. We use quadratic voting for the token holders to decide which contribution is valuable to the NFT.