Mirror.xzy, the cryptocurrency, and blockchain-powered digital publishing platform.
We live in a world of digital publishing. Blogs, magazines and newspapers are now commonplace on the internet. This has created a huge demand for content providers to generate digital content – but it’s not always easy to make money from this profession! Most people who want to create digital content don’t have the time or skills required. That is why we created Mirror: The first cyptocurrency and blockchain powered digital publishing platform that pays its contributors in cryptocurrency, rather than traditional currencies.
What is Mirror.xzy?
Mirror.xzy was first launched in 2020 by Denis Nazarov. The platform is a unique publishing tool for writers, which leverages cryptocurrency and blockchain technologies. It is described as a first of its kind, decentralized writing platform developed to help creators connect with their target audiences in a more direct and innovative way. “Mirror is the next big change in the long history of symbolic communication. Through a decentralized, user-owned, crypto-based network, Mirror’s publishing platform revolutionizes the way we express, share and monetize our thoughts.”, according to its website.
Mirror.xyz appears to borrow from the functionality of the popular blogging website WordPress, Substack and Medium. It also offers a simplified approach to sharing content online. One of the major differences is that Mirror.xyz provides tools for writers to earn in cryptocurrency rather than through typical cash transactions. authors can seek crowdfunding for creative projects via non-fungible tokens (NFTs) that can be continuously traded and keep earning on the writer’s behalf. Yes, this is possible through Mirror’s utilization of the Ethereum blockchain.
Mirror.xyz is set up so that its writers are pretty much the gatekeepers of what or who gets in and what stays out. Thus, less likelihood for poor quality content or misinformation to be shared. With content published on the platform being added to a blockchain, there is also the fact that the chances of content being copied, duplicated or accidentally deleted are significantly lowered. Another big difference between Mirror and other popular publishing websites is that people can’t simply sign up and begin publishing whatever they want.
How can I create an account?
To join Mirror.xyz requires one $WRITE. You need to earn a $WRITE, which can be redeemed for a unique ENS domain used for your publication. $WRITE tokens serve as an Ethereum-based alternative to the typical invite system used by platforms like Clubhouse or Superhuman, and function as a collective ownership in the platform itself as holders of $WRITE tokens use them to vote in new publications.
To get a $WRITE token, the only way is to participate in a weekly “$WRITE RACE,” which happens every Wednesday from 3-5pm ET. Every account that connects their Ethereum address with a Twitter profile gets 0.01 $WRITE, or ten votes. The top 10 writers voted by their peers each week are awarded 1 $WRITE token and can start a publication.
How can a creator be monetized?
Currently, Mirror.xyz is still relatively new. There are various questions across social media on how to get in and use the website. Let’s take a closer look at how it works:
The new applicants must first take part in what is called a “$WRITE RACE.” Each applicant is placed on a waiting list and receives 0.01 $WRITE token just for applying. At the end of a week, existing Mirror.xyz members vote to decide which writers competing in the race earned the right to be a part of the platform. The 10 participating writers are eventually chosen and given one $WRITE crypto token each. Possession of this token is what allows you to become a publisher on the platform, and you are now able to create a custom name and use the .Mirror.xyz domain for your publication, and then begin publishing your written works. Your domain can simply be your name or any moniker of your choice. When you publish a piece, you can assign it a unique token name, since it automatically becomes an NFT.
Note: The platform allows people to join through a vetted process.
To earn, as mentioned Mirror.xyz is not your typical publishing platform. This applies to how you monetize content on the platform as well. There are multiple ways to make money as a writer. When you start creating and publishing content, for instance, written works become unique NFTs as well. This means they can be auctioned off and sold to the highest bidder in exchange for cryptocurrency (in the form of Ether (ETH)) to people who want to own it. Since your work is stored on a secure blockchain as a socially shareable token, they can be easily transferred and further subdivided and keep earning for all owners involved.
The 6 other ways to earn through this platform are:
- You can seek crowdfunding for the project via your Mirror.xyz publication
- People who enjoy reading your content have the option of leaving you a tip.
- When your content gets shared around by readers, this raises the value of the embedded NFTs, increasing the likelihood of earning from them.
- If you created an article with someone else, for instance, you could be signed on as a 50–50 owner, which would see you earning half of all revenues gained from the published piece.
- The platform will eventually have the option to place ads on popular content, as well as charge a subscription fee.
- You are able to insert links in your published content on Mirror.xyz that lead to other monetized content you may own.
Alternative Platforms
Cryptocurrencies are a great fit for the creative industries in many different ways. It allows creators to take micropayments or to accept direct payment for their work without banks or payment processors taking a cut and potentially trying to censor content they object to. Here are some alternative platforms you can check out:
- Publish0x rewards both writers and readers for their contribution to the site’s success. Readers who register an account get a certain number of tips to dish out each day from a pool of Bounty0x tokens provided by the site itself, and can choose to take up to 80% of the tip themselves or give it all to the blogger who published the post they are tipping.
- Steemit is a social media and publishing platform where you can earn Steem tokens from writing, as well as other media
- Bounty0x will generally involve writing and publishing an article about a new project. Often you can publish the articles on Medium or even sites like Publish0x or Steemit, but sometimes you may need your own website to put them on.
The future of Mirror.xyz in blogging and the creator economy
The goal of Mirror.xyz is to make it the best place to share your story with the world and build a highly-engaged community around it, powered by world-class crypto-native tools. Since it is now open to everyone with an Ethereum address. Because publishing on Mirror is underpinned by an open protocol where data is stored on blockchains, developers don’t need permission to extend the system and build on top of the data. While there is still a lot of work to do to create word-class documentation, APIs, and developer libraries, there are already exciting community projects building on top of Mirror, like Mirror Latest, RSS3, and Yup.
Mirror is a digital publishing platform that seeks to revolutionize how content creators and consumers interact with the internet. Digital publishing has been around for a while now, but Mirror’s unique approach will change everything. Mirror seamlessly integrates cryptocurrency into the traditional online experience of browsing articles from an article feed or reading individual posts on your favorite website. It does this by embedding crypto micropayments directly into web pages themselves, so that readers never need to leave the webpage they’re viewing in order to tip their favorite author!
