Would you hand over some crypto to read an article? At a time when more news sites are putting up paywalls, the influential crypto company The Block is betting readers will do just that.
As Axios reports, readers of the The Block will soon be able to put away their credit card and instead access the site by handing over something called “Access Tokens.” The idea is that as long as you park a certain amount of tokens (“staking” in crypto speak), you have what amounts to a subscription.
The project is being managed by an outfit called Access Protocol that’s aspiring to make its tokens the new coin of the realm for the media world. If all goes well, readers will buy Access Tokens and then use them to view all sorts of web-based content. This process promises to involve less friction than credit cards, and, as a sweetener, offers rewards to both publishers and readers in the form of—you guessed it—more Access Tokens.
It’s a bold plan, but will it work? Skeptics have already responded to...
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