Guardian owner invests in Unlock, an NFT protocol designed for subscriptions and memberships – TechCrunch
Monetization for the creator economy continues to be a huge problem and opportunity, but creators primarily need to lock themselves into platforms like Patreon to realize their value. A better method would be to have a membership system for creators who sat on multiple platforms.
GMG Ventures (parent company of The Guardian newspaper) has now divested To open, the developer of an open source Ethereum-based protocol designed to monetize and manage community memberships.
The $ 4 million funding round was led by venture capitalists including Betaworks, Cygni Labs, GMG Ventures and Metacartel Ventures China, with participation from early investors.
Unlock says its membership / monetization solution is used by artists, musicians, game developers (including Decentraland), writers, Discord communities, and others. It is also considering partnerships with major media brands that use its protocol.
Unlock CEO Julien Genestoux said, âWith the funding we have raised to date, Unlock will continue to grow to become the most comprehensive open source platform to achieve this goal. “
Genestoux previously built Superfeedr, an RSS feed API purchased by Medium.
Founded in 2018, Unlock is an NFT-based protocol that records all transactions on the Ethereum blockchain. Use cases include a WordPress plugin that allows developers to add a membership / subscription option, and a community-created plugin for Shopify allows retailers to add a purchase option based on unlocking on their website.
âUnlock’s open source protocol for Creator Community Memberships is poised to redefine how creators interact with and expand their audiences in the years to come,â said Thomas Lueke at Cherry Ventures. âWe look forward to celebrating Unlock’s growth as it continues to navigate this space and are delighted to have invested in the business. “