The world of online publishing is about to see a big shift. Mirror, a popular Web3 publishing platform, is being acquired by its competitor, Paragraph. This isn’t just a simple company buyout – it’s a sign of a major change. Mirror will stop focusing on traditional articles and essays and will instead become ‘Kiosk’, a new kind of Web3 social app.
What is Web3?
Before we dive deeper, let’s understand what Web3 is all about. Think of Web3 as the next generation of the internet. It promises to be more decentralized, which means no single company or person has total control. Web3 uses blockchain technology (the same system behind cryptocurrencies) to create secure platforms, make it easier to prove ownership, and offer a way for people to connect more directly.
Mirror’s Past as a Web3 Publisher
Mirror first gained popularity as a blogging platform built on Web3 technology. Unlike traditional blogs, Mirror allowed writers to:
- Own their work: Writers could “mint” articles as NFTs. Think of NFTs as unique digital tokens linked to the content, proving ownership.
- Earn cryptocurrency: Readers could directly support authors and even buy ownership shares in their work.
- Collaborate: Some projects on Mirror used tokens to let readers vote on the direction of a story or piece of writing
Paragraph: Mirror’s Rival
Paragraph was another popular Web3 publishing platform similar to Mirror. Both platforms competed for the same audience of crypto-savvy writers and readers.
Why the Sudden Change?
There are a few reasons why Mirror might be pivoting from publishing to social media:
- Market trends: While Web3 publishing is exciting, it’s still a small niche. Social media offers a much bigger potential audience.
- Community building: Web3 is all about creating communities. A social app might be a better way to foster those connections than standalone articles.
- Competition: By focusing on a social niche, Mirror (now Kiosk) can differentiate itself more clearly from Paragraph, which remains a publishing site.
What is ‘Kiosk’ Going to Be Like?
While details are still emerging, we can guess at some of the features ‘Kiosk’ might offer, based on Mirror’s past and the overall Web3 social media trends:
- NFT profiles: Imagine your profile picture as an NFT that you own. This proves it’s uniquely yours and could even be linked to other content you’ve created.
- Tokenized communities: Groups or clubs could use tokens to control membership. Owning a token might give you access to exclusive content or voting rights.
- Direct payments: You could use cryptocurrency to tip your favorite creators, subscribe to their content, or even unlock special features.
- Less Censorship: Because Web3 is decentralized, it’s harder for governments or big companies to control what you say on these platforms.
Challenges of Web3 Social Media
The idea of Web3 social media is exciting, but there are some hurdles to overcome:
- User-friendliness: Most Web3 platforms are still complicated for the average person to use. They need to be as simple as traditional social media to attract a wider audience.
- Discoverability: In a decentralized world, it’s difficult to find new people and content that you’ll like.
- Handling bad actors: Just like any online platform, Web3 apps need to figure out how to deal with scams, trolls, and harmful content.