The subscription economy is on the rise and now the Web3 space is booming.
adding your own unique spin.
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The subscription economy has grown more than 430% over the last decade and is expected to increase
to worth 1.5 trillion dollars by 2025. The rapid emergence of the subscription model in the last 12 years
– marked by platforms such as Netflix and Amazon Prime – stands out for the fact that
Subscription-based services have outpaced the growth of the S&P 500 in about 300%and
They show no signs of slowing down.
The subscription economy aims to offer more value to consumers through usage-based services and
flexible pricing models, integration with the Internet of Things (IoT) and smart devices, and
Sustainable and environmentally friendly business practices that greatly reduce physical waste.
We are now seeing attempts made by projects in the Web3 space to apply the benefits of
blockchain technology and non-fungible token (nft) for the subscription economy: a unique solution
symbiosis that seeks to enhance the subscription model by allowing people to become media brands that can foster direct, interactive and gamified community participation with their subscribers.
Web3 meets the subscription economy
An example of this can be seen in Galaxis, a decentralized community building platform that
allows creators, brands, athletes and more to manage their subscriber communities through
the innovative use of nft technology. Through Galaxyprojects can issue Digital Membership
Cards to their subscribers that are based on nft technology, allowing continuous access and
interactive experiences that help foster sustainable and safe engagement.
In the midst of an Internet landscape characterized by political censorship and the elimination of platforms by
major service providers, the benefits of creating grassroots communities from the ground up
They have never been so evident. Because Web3 projects like Galaxis are fully decentralized,
Even their founding teams cannot meddle in the affairs of their users. On the other hand, the projects have the
ability to go up or down based solely on the utility they provide to their own subscriber base.
Galaxis has also integrated Chainlink CCIP to enable cross-chain interoperability for its Digital
Membership cards and allow token-driven communities to flourish on both ethereum and ethereum.
and Polygon blockchain networks. Powered by Chainlink decentralized oracles, which have
Already helped secure over $8 trillion in on-chain transactions, CCIP is the ideal solution for
Secure interoperability between multiple blockchains.
Revolutionizing the traditional approach
This direct-to-subscriber approach radically changes the current subscriber service model, which sees
hordes of emails sent to users in the vague hope that they will open them, something most
You never do. In addition, it drastically reduces logistics costs and typical working hours.
necessary to connect with customers while maintaining bulletproof security.
Immutable nft technology.
Unlike Amazon Prime or Netflix memberships, nft-based memberships also provide the end user
their own interest in the success of their favorite creators, first by contributing to their efforts with
the initial nft purchase, and then by their continued interaction which, in some cases, may even
allow them a decision-making role in the future direction of the chosen project.
Similar to how platforms like Substack have made it easier for bloggers, writers, and journalists to
manage the monetization and scope of your work, Galaxis allows people to create a
personalized, personalized membership community in about two hours, radically shortening
time to market for budding projects.
Galaxis has already driven community releases for Charlotte Hornets guard LaMelo Ball,
whose NFTs were programmed to increase in rarity and value according to the player on the field
Achievements throughout the NBA season.
Galaxis also fueled the releases of Hollywood actor Val Kilmer and music DJ Steve Aoki.
Galaxis' nft collection for boxing legend Mike Tyson saw members qualify for numerous
unlockable prizes, whose main winner had the pleasure of entering the boxing ring
with Mike Tyson himself.
The future of the tokenized subscription economy
It's easy to see the addition of nft tokenization to the subscription economy as an innovation.
It is also an innovation, and it comes at the right time.
As the world moves closer to the subscription-based model, the implementation of nft
Tokenization further expands its usefulness: it reduces costs and guarantees direct delivery to the customer.
scope that guarantees that the people interested in a service are the same people who receive the service.
benefits from that project, and who then return their support to that project in kind.
All financial/investment opinions expressed by NFTevening.com are not recommendations.
This article is educational material.
As always, do your own research before making any type of investment.
