Grand Opening: Crowdfunds Go Public

We imagine a world where writers on Mirror can publish an intention to research and produce high-quality writing, and receive crowdsourced funding. In this model, the contributors who fund the project also receive a stake in the future financial upside produced by the work, captured by subsequent sales of the NFT.

During this initial phase, we spent some time creating a following on Twitter and then published a launch article through the blogging platform Mirror. At its core, Mirror is a publishing platform like Substack or Medium but built with Ethereum. In short, you can “blog on the blockchain”. Unlike other publishing sites, Mirror is a crypto-native sol... See more

Then, in the back of my mind has been a question around how Mirror can develop a network effect and be more like Uniswap, less like a standalone product. An exciting thought here is that Mirror could be a marketplace / aggregator for both bounties and crowdfunds at once. This would be a central part of the product (and a dedicated page in the UI), ... See more

Mirror is trying to build the tools for people to create crypto-native businesses similar to how people create e-commerce stores with Shopify.

All of this is not to detract from Mirror's inventive model. And building these communities the right way is hard. The platform is clean and easy to use, and the idea of "Medium, but make it crypto" is appealing to everyone in cryptoland who believes Web 3.0 models can help fix the existing broken monetization system for digital content.

Crypto enables global permissionless crowdfunds. As long as you have an Ethereum address and some ETH, you can participate. This opens up the opportunity for people all over the world to raise money for any creative project.