What the Heck Is ‘Decentralized Media’ and How Does It Benefit Me?
TL;DR
-
Rug Radio and Decrypt (the Web3 media corporations) are merging.
-
Solely a majority vote was required (51/49), and it was a simple vote to cross seeings because it was a merger and never a straight buyout.
-
The takeaway? The way forward for media might properly be neighborhood owned.
Full Story
Rug Radio (the decentralized media firm) and Decrypt are merging.
That makes three main crypto media offers up to now month:
-
The Block bought a majority stake to a Singaporean VC agency for $70M
-
CoinDesk bought fully to a crypto alternate run by former New York Inventory Trade President Tom Farley.
However maintain up! Pump the breaks.
What the heck is a ‘decentralized media’ firm?
Mainly, it means the platform’s neighborhood (its listeners, readers, hosts and many others.) personal the platform itself.
It really works one thing like this:
-
You purchase (or get gifted) one of many 20,000 Rug Radio genesis NFTs
-
By proudly owning a number of of those NFTs, you get month-to-month payouts of $RUG.
A token particularly designed for use inside the Rug Radio ecosystem. (Funded, presumably, by Rug Radio’s advert income)
So how does a decentralized platform ‘merge’ with a centralized counterpart?
Did all 20k NFT holders vote unanimously to merge with Decrypt?
No, in all probability not.
Our guess is:
Solely a majority vote was required (51/49), and it was a simple vote to cross seeings because it was a merger and never a straight buyout.
Translation: Decrypt would simply begin passing advert offers on to Rug Radio (and vice versa).
…advert offers that improve the month-to-month $RUG token payouts to Rug Radio NFT holders.
(The promise of more cash in NFT homeowners’ pockets = a better majority vote).
The takeaway?
The way forward for media might properly be neighborhood owned.
