Web3 Foundation Creates New Revenue Potential for News Media

By August 30, 2022Polkadot
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through a partnership with World News Publishers Association (WAN-IFRA), Web3 Foundation We are trying to help create new revenue streams for the publishing industry.

The Web3 Foundation, an organization dedicated to providing support for decentralized protocols, has announced the launch of a pilot project that will unlock new revenue potential for news editors and content creators through Web3 technology.

New options in Web3 Foundation

The Swiss-based backer was previously known for supporting two major protocols, Polkadot and Kusama.

The pilot project provides expertise and funding for a joint initiative between David Tomchak, a visiting policy fellow at the prestigious Oxford Internet Institute, and the World Association of News Publishers (WAN-IFRA), a global news media organization. To do.

A portion of the funds allocated by the Web3 Foundation will be donated to WAN-IFRA scholarships. A key objective of the scheme is to provide financial assistance to select publishers.

The pilot, which will run from October to December, will bring together national and international news publishers and technologists to take advantage of practical applications of decentralized technology for the publishing industry.

make global connections

The purpose of this research is to develop a knowledge sharing network for Web3 advocates and the media industry. The resulting blueprint will contain strategies on how to build the technical aspects, and the public will be able to provide feedback on it.

Commenting on the new pilot project, Ursula O’Kuinghttons, Director of Communications and Partnerships at the Web3 Foundation, said the organization will see how Web3 can take the lead and shape the future of digital news, especially content creation and distribution. said he strongly believes in , monetization. Additionally, the purpose of this project is to help build authoritative news sources using decentralized technology.

Ursula was a founding member of Civil Media in New York City. Civil Media is a project focused on experimenting with blockchain in media with her 18 newsrooms in the US.

She will be presenting at the World News Media Congress program in Zaragoza, Spain from September 28th to September 30th, 2022. The program describes Web3.

In support of this vision, Web3 Foundation CEO Bertrand Perez said Web3 has given users greater control over their data due to its fair and democratic nature.

He emphasized that the Web3 Foundation’s flagship project, the Polkadot protocol, helps build trust between its various members.

Introducing Web3 for Media!

Stephen Fozard, Project Director of WAN-IFRA’s Global Alliance for Media Innovation, said early member participation in Web3 is essential to foster Web3’s growth in public media. And this goal is achieved with the support of the Web3 Foundation.

Project leader David Tomchak commented:

“We are delighted that the Web3 Foundation has agreed to partner with this project. It is imperative to have the support of the Association, a partnership that would not have been possible without the amazing team of Stephen Fozard and WAN-IFRA, and the new scholarships announced today are great opportunities for members of the association. I believe this is an opportunity for

Prospective members are encouraged to apply for a scholarship to participate in the project by completing the online form by 11 September 2022, 11:59 pm CET.

This grant (from €1,500 to €4,000) will provide financial support to applicants in exchange for a commitment to the project.

The project will start in early October and extend over 10 weeks. At least half a day should be attended by 2-3 media groups.

https://blockonomi.com/web3-foundation-creates-fresh-revenue-possibilities-for-news-media/ Web3 Foundation Creates New Revenue Potential for News Media

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