A Tool To Create Decentralised Media Companies

Problem: Content Curation is Hard

Finding out which content is good and which isn’t is really hard. This is especially true for long-form written content. Harry Potter was famously rejected by 12 different publishers before being accepted by Bloomsbury. In the typical publishing process, the book author first sends literary agents a synopsis (~2 pages long). If the agents like the synopsis, they will request a partial (~ 30 pages long) and then the full text. This long, costly process does not scale to our current online platforms for written content (twitter, reddit, medium, newsletters, etc.).

Solution: Prediction Markets

We first need to define what “good” twitter content is. We could naively say that the post that gets the most likes is the best. However, we would find that for an audience large and diverse enough, the best performing content is always cats and dogs doing cute, silly things.

  1. Resistance against manipulation

Incentive Design

Each shared twitter account has a token linked to it. Every time a post is published, some tokens are issued and go to:

  1. The writer of the post.
  2. To pay the predictive market’s initial subsidy.
  3. To pay the moderation team.
  4. The protocol fee.

Where does the token value come from?

There are multiple ways to make the publication’s token valuable. Here are a few:

  1. Selling ad space on the twitter account.
  1. Selling the twitter account.
  1. Using an already valuable token.

Why use Web3 at all?

The blockchain makes everything transparent:

  • the moderation is transparent: who flagged which post and why.
  • the contributions are transparent: who contributed what and how were they rewarded.
  • the profit of the twitter account is transparent: how much did the sponsor pay for the ad.

What’s the future of Writing Monks?

We’re now managing a test account and our contracts are on a test blockchain. Our short-term goal is to start or partner with an existing online community and start managing a real twitter account.

Join the Monks!

If your organisation wants to have a shared twitter account please send me a DM on twitter.

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João Abrantes

João Abrantes

AI researcher into reinforcement learning, complex systems and collaboration tech.