We’re incredibly excited for our friends and innovators at NFT Now
The traditional models and ways of doing things in media just don’t work anymore. The rise of social media, the traffic floodgates opened to media websites. Media companies saw an unprecedented explosion of reach due to these platforms and became addicted to this traffic, which helped fuel the rise of programmatic advertising. This is the technology that powers those annoying banner ads on your favorite media websites, from The New York Times to YouTube. The more people visit your website, the more impressions the ad gets, and the more the platform gets paid.
However, the very platforms that fueled this business model ended up changing their algorithms after seeing how much revenue they were allowing to leave their ecosystem by encouraging users to click away from Facebook or Twitter onto a separate publisher website. So in 2015, Facebook’s notorious algorithm change decimated the traffic sources for hundreds of media companies to keep more of their traffic inside of Facebook. Due to declining revenue, some media properties even went out of business.
As media companies prioritized audience scale over quality and optimized for algorithmic platforms like Facebook and Google, there were a number of alarming developments. Programmatic advertising reduced us to eyeballs to be monetized and discarded. Platforms began to track users across the web without their explicit consent in order to sell more ads. The rise of tracking users using pixels and cookies invited privacy violations across the web.
The rise of Web3 technology and NFTs (Non-Fungible Tokens) is poised to change all of that, transforming the way media companies interact with their audiences and monetize their content. NFTNow is one such platform that is leading the charge in this new wave of media. It is a community-centric media model that is built on decentralized, trustless, permissionless, and interoperable technology products.
The Now Pass is the key that unlocks the door to the Now Network. It offers members exclusive access to content and events, early access to information and insights, and curated private chats where they can connect with experts and other builders in their industry. The Now Network also offers IRL and virtual events, including tentpole events like The Gateway, NFT100, and nft now presents, alongside satellite events around Art Basel Miami, NFT NYC, Frieze LA, ETH Denver, Faena Rose Miami, Jackson Hole, and many more.
By realigning incentives and reimagining how a publisher can create and share value in a web3 context, the Now Pass encourages deeper, more authentic connections and a greater sense of loyalty. The community members are incentivized to engage with content and provide feedback through the platform’s reward mechanisms. The Now Network is our first step towards progressive decentralization, creating a more inclusive and transparent ecosystem to incubate ideas and uplift new voices.
As the Now Network is built over time, the founders are being intentional and taking their time to create something sustainable. This is a first step—a foundation for all of our initiatives in building the future of tokenized media. The commitment to this space is long-term, so they will build in public over the coming months, years, and decades. Join them in learning, growing, and co-creating this future together.
The Now Network offers an alternative to the broken Web2 media model that prioritizes clicks and traffic over quality and privacy. By putting the power back in the hands of the users, the Now Network creates a more authentic, engaged, and sustainable media ecosystem that benefits everyone. Join NFTNow as they lead the way in this exciting new era of media.