What Is Mirror XYZ And How To Use It? 🪞

What Is Mirror XYZ And How To Use It? 🪞

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4 min read

Overview

Mirror is the first decentralised platform that allows writers to leverage blockchain technology to get paid for their articles in crypto in a simple manner for both the author and the contributor. Writers can also use their writing platform to get crowdfunding for future projects or NFT project that the writer wishes to work on in the future.

The best part is that Mirror is open to everyone so you can start writing right now! Build your audience on Mirror and sell crowdfund your work in a much more simple way.

Let’s dive into Mirror by going through a few examples and how they work. 📚

EcoDAO

EcoDAO aims to help the environment through NFTs whilst educating people through their articles. They have used Mirror to showcase an Artists work, both a written essay and an NFT in this article . As you scroll through the article you can see there are multiple NFTs with certain editions and varying prices, those who want to support EcoDAO and the artist in their missions can purchase an NFT in ether.

In that specific article, EcoDAO has clarified where the money is going to go.

‘50% will go to Yan, 25% will go to the Rainforest Foundation , which supports indigenous communities with land rights and reforestation to fight climate change, and 25% will go to ecodao to support events, art collection, tech development, and what we hope will be the first artist UBI—and first web3 museum. ‘

primo.png

As you can see for each NFT, it is clear to see the price of each NFT, total raised, number sold and who each collector is. Mirror has made a very sleek design for their blog and is very user-friendly because you can find out who you want to contact if you want to purchase one of these NFTs on the secondary market.

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Emily Segal

Emily used Mirror in a very unique and interesting way, she allowed her supporters to crowdfund her future novel " BURN ALPHA 🔥”. She created a token of $NOVEL which the supporters would get in return for funding her novel in Eth.

burn.png

You can see above, that Emily was successful in her idea and was able to crowdfund 25 eth which is currently worth $105k. Depending on how much you contributed, determines how much $NOVEL you would receive.

Emily also created an incentive to provide more eth, by creating tiers, very similar to Patreon when you have the option to subscribe to someone’s Bronze, Silver or Gold level etc. I have posted her tiers below!

tiers.png

This way of crowdfunding is incredibly unique on the blockchain but it is something we have seen in the real world on websites such as IndieGoGo or Kickstarter but this is the first of its kind on the blockchain.

General use

Some authors will use Mirror like any other publishing platform, except readers now have the opportunity to contribute eth to the author if they wish. This creates another revenue stream for authors.

Or use Mirror in a similar fashion to Emily, where you can get your loyal supporters to fund your future project and in return you get perks that aren’t available to the public. Mirror is definitely a project that will create some interesting ways for capital to be raised for certain projects, especially as more creatives such as videographers, artists, writers etc. join the platform.

How to get into Mirror?

Go onto mirror.xyz and connect your wallet.

Create your mirror. Done. You have now created your own blog on Mirror. You will have a screen like the one you see below.

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Originally Mirror allowed writers to join the platform by entering the contest that I have explained below. That contest has now been removed as anyone can create their own blog with no tokens needed.

(Mirror allows writers to join, by entering the weekly contest called $Write Race. The writers of Mirror have the ability to vote the newbies in, and only 10 people per week are accepted. This allows the members of Mirror to control who they let in, instead of the creators of Mirror deciding who should come in. The winners of the $Write race will win one $WRITE token which is needed to be redeemed so they can become part of the community.

That one $WRITE token gives you the ability to obtain Mirror membership, a subdomain, and future community perks)

The $WRITE token gives you a subdomain and membership in the Mirror DAO, but you don't need either to create on web3 now.

Conclusion

Mirror.xyz is the tip of what decentralisation in the world can be. You have the ability to connect with your audience and allow them to feel more a part of the process whilst helping authors continue with their creative endeavours without the worry of no income. This project will help creatives feel more comfortable with migrative over the web3 too, as the front-end looks very similar to any publishing platform, so it will be easier for non-crypto users to utilise Mirror.xyz