Publications can create an NFT-gated paywall
Premium Articles allow writers within a Publication to create NFT-gated articles.
When a writer within a publication publishes an article, they can choose to publish it as a Premium Article. This creates an NFT-gated paywall for the article. To preserve the state of the NFT an article published as Premium cannot be edited.
When publishing as a Premium Article the volume and price of the NFT need to be specified.
When a reader navigates to the Premium Article they will encounter a paywall and can choose to buy the NFT to gain access to the article.
The NFT is free to be sold on the secondary market. Only wallets containing the NFT will be able to access the corresponding article.
Premium Articles (Article NFT) can be sold on the secondary market
Here's a step-by-step guide on how to sell a Premium Article:
1. Eligibility:
Premium Articles are currently available only for publications.
2. Contact Nuance:
If you wish to enable the NFT feature for a specific publication, reach out to Nuance through the provided communication channels.
3. Activation:
Once Nuance activates the NFT feature for your publication, you gain access to additional functionalities.
4. "Publish as Premium" Button:
Navigate to the article creation page for your publication. After activation, you'll notice a new option: "Publish as Premium."
5. Set Pricing and Quantity:
Click on the "Publish as Premium" button to reveal the pricing and quantity options.
Specify the number of copies you want to mint and sell, along with the desired price for each Premium Article.
Revenue from an Article NFT is split between the Publisher, the writer and Nuance
When an article is published as a Premium Article, AKA an Article NFT, and sold for the first time the funds from the sale are split as follows (roughly):
1% to the marketplace (Toniq)
10% to Nuance
89% split between the Publication and writer - configured for the publication.
An example helps illustrate the split with a Publication fee of 5%. An Article NFT of 100 ICP would be split as follows:
1 ICP to Toniq Marketplace
9.9 ICP to Nuance
4.5 ICP to the Publication
84.6 ICP to the writer.
When an Article NFT is sold on the secondary market the funds from the sale with a Publication fee of 5% are split as follows:
1% to Toniq Marketplace
94% to the seller
4.5% to the publisher
0.5% to Nuance