For those about to rock, we salute you – AC/DC
While in Web2 users have profiles on platforms, with Nina users will have platforms on protocols. The implications of this are greater flexibility for users, reduced platform risk for artists, lower barriers to entry for platform developers, and a fair distribution of value that creates shared content liquidity in the underlying protocol. Currently, the protocol is composed of two primitives: Releases and Hubs.
Releases are NFT music tracks at the lowest level primitive that connect content to value. They are distributed on the blockchain and act like one-of-a-kind digital vinyls. Releases may not always guarantee financial benefits like royalty-split assets. Instead, by purchasing them, fans support and become patrons of their favorite artists. Additionally, they may provide IRL fan experiences like merchandise, tickets, special events and other monetization models that already exist or are yet to be created. Compared to Web2 models like Bandcamp or Patreon, this provides a better user experience because it can combine token-gated digital experiences with tangible fan services, like exclusive Discord channels with artists or free NFT airdrops. Currently, Nina offers 1/1 releases and limited editions. The content and metadata is stored on the permaweb (enabled by Arweave – another project backed by Greenfield) to ensure the preservation of an artist’s work over time. Accounts on Solana keep track of provenance, payment, and monetization models.
Hubs constitute the platform primitive that enables app-specific and ecosystem-wide social context used by artists, fans and curators via an on-chain social graph. They are Nina-powered pages, apps or third-party platforms that allow anyone to make collections of releases, publish new releases, write about releases, and invite collaborators to do the same. Hubs provide valuable data to artists about which communities and individuals are the most influential in disseminating their work.