Premium Articles allow writers within a Publication to create NFT-gated articles.
If writers so desire, a paywall feature will be made available for them to use. Nuance will enable writers to mint articles as NFTs. These will be sold through Nuance initially and then traded on popular marketplaces. This provides a unique difference to the paywall approach: Imagine a project you follow makes a major transformative announcement or author you follow writes a unique story. They may post this as a Premium article (NFT), enabling readers to both support the project and own a piece of news.
In a nutshell, a writer can create a cryptographically secure limited edition article where there can never be any more copies, can never be edited and never be taken down.
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. This is explained on next section.
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.
Disclaimer: Please be aware that the usage of the premium article (NFT article) system is subject to legal regulations regarding cryptocurrencies and digital assets in your respective jurisdiction. It is your responsibility to understand and comply with local laws before engaging with the premium article (NFT article) system.
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 Limited Edition and writer - configured for the Limited Edition at setup.
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 Limited Edition
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
Premium Articles are currently available only for Limited Editions.
Premium Article creation flow is similar to standard article creation flow. After entering your title, introduction, body, and tags, select which Limited Edition you want to continue with from the left panel, then click the Publish and Mint option and press the Publish as Premium button.
After you press the button, you must enter the required information in the pop-up window for minting the article.
You can continue your minting process after entering how many keys you want to produce and the price you want for each key in the relevant fields.
The amount of editors who have access to the Limited Edition are automatically given a key. You cannot mint fewer articles than the number of editors in your Limited Edition. Once you publish your Premium Article, it cannot be edited or unpublished.
