Blockchain technology is being used to revolutionize the news and communications industry through the use of NFTs-enabled platforms like Rug Radio and The Writer’s Room. These platforms address longstanding issues of centralization and wide outreach by empowering producers and customers with control rather than relying on traditional centralized structures controlled by a select few. In addition to providing a platform for individuals in the industry, such as writers, speakers, and journalists, to connect and share ideas, decentralization also allows for a greater diversity of perspectives and voices in the media. Overall, the use of blockchain technology is significantly changing the landscape of the news and communications sector.
What is Rug Radio?
Farokh Sarmad is the founder of Rug Radio, a Web3 media company that prides itself on the first decentralized media platform in the NFT market. The platform has become a popular venue for talk shows hosted by various Web3 experts. In addition to its talk shows, Rug Radio’s Web3 initiatives include a decentralized autonomous organization (DAO), an NFT collection called “Rug Genesis NFT,” and its ecosystem token ($RUG). These elements work together to propagate the idea of a decentralized media ecosystem.
As a decentralized media Rug Radio, the network’s users, partners, and hosts have ownership over the content they broadcast. That is in contrast to traditional centralized media systems, where a select group of individuals make decisions and own the content produced. Decentralization gives control to producers and customers. According to its website, Rug Radio believes in the importance of ownership and the truth and seeks to create a network that incentivizes these values through its decentralized autonomous organization (DAO).
How does Rug Radio work?
The Rug Radio Membership Pass is the key to becoming a participant in the Rug Radio ecosystem. This pass allows individuals to vote and participate in the decentralized autonomous organization (DAO) before holding DAO ownership and also gain benefits from their community engagement. In addition to these benefits, individuals with a Membership Pass can mint the ‘Rug Genesis NFT,’ which allows them to earn the $RUG utility token and furthermore grant them entry into the DAO.
Jenkins the Valet: The Writer’s Room
Jenkins the Valet is another Web3 project that is disrupting the media industry using NFT technology. By purchasing a ‘Jenkins the Valet’s Writer’s Room NFT,’ members can participate in deciding on the creative direction of the content that the community produces, including the debut Jenkins novel.
How Does The Writer’s Room Work?
Jenkins the Valet is simply a Decentralized Autonomous Organization (DAO). Jenkins pairs each member with writers who are tasked with creating ‘Metaverse-defining’ stories across a number of mediums. Members have the opportunity to be a part of the creative process by offering suggestions and voting on what direction these stories should take. That includes voting on the book’s title, genre, plot, cover art, ending and more. In simpler terms, one is influencing the narrative without having to write these stories. Furthermore, members also have the opportunity to license their NFT avatars as characters in these books in exchange for a licensing fee.
In addition, The membership pass also provides special perks like merch drops, admission to the physical writer’s room in the metaverse (Sandbox), airdrops, discounts, discord activations and special access to Jenkins Roadmap 2.0. There are four membership tiers – Yacht, Valet Stand, Yacht Key, and Valet Ticket. These membership tiers differ based on their role in content, voting power, and other perks attached to them. For example, holders of the Yacht membership pass have 215 votes on every creative proposal, Valet Stand Pass comes with 50, Yacht Key with 10, and Valet Ticket with five.
Web3 brands like Rug Radio and Jenkins the Valet are creating a decentralized future for the Media and Content Creation Industry. But right now, their successful creative ventures highlight the various use cases of NFTs and prove that NFTs are just beyond being used as profile pictures on different social media platforms.
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