Mirror
Mirror is a decentralized publishing platform that enables creators to publish, own, monetize, and permanently store their creative works on-chain.
Website: https://mirror.xyz/
HQ: San Francisco, California, United States
Active Markets: Global
Problem Addressed
Writers and creators using Web2 social platforms face challenges exercising control, ownership, and income generation with the creative outputs they produce and publish through these platforms. Creatives are often subject to potential censorship or may not be able to take published works with them off the original platform they published them on. These platforms benefit most from the monetization of creator audiences through advertising.
Project Description
Mirror’s decentralized publishing platform allows authors to create and publish works with complete ownership over their outputs and introduces new income generating opportunities and crowdfunding mechanisms. Introducing NFT functionality increases verifiability of information and potential monetization of works. Mirror is free to publish through, and content is owned entirely by its authors. Authors connect a Web3 wallet, set up an account, and can begin publishing content and using Mirror’s features.
Business Data
Status: Active
Constituency Served: Creatives
Networks: Ethereum
Known Investors: a16z, Coinbase, SVA, Musha Ventures
Additional References: Mirror Development Blog
Progress to date
Mirror launched in 2020 as Web3’s answer to platforms like Substack and Medium. In October 2021, Mirror transitioned away from token burns for full access and made the entirety of their creative suite open to anyone who connects their wallet. In May 2022, they began offering Writing NFTs, for community members to collect. In 2023 Mirror expanded the networks available to users within Ethereum to include Optimism, Base, Linea, and Zora.
Business Model
Mirror collects fees on transactions carried out through the platform, including minting, tokenization, bidding, listing, offering, or purchasing actions.
Traction
Mirror has over 100,000 ETH wallets registered to creators on the platform with over 500,000 creative works published and minted as NFTs. To date, over 10,250 ETH have been raised for creators across writing NFTs, crowdfunds, Mirror NF editions, and through other one-off drops with select creators.