Guardian Fund Invests in Unlock NFT Protocol

The Challenge of Creator Monetization

Successfully monetizing content remains a significant challenge and a substantial opportunity for individuals within the creator economy. Currently, many creators are compelled to rely on platform-specific systems, such as Patreon, to effectively capture the value of their work.

A more versatile approach would involve a membership system that functions seamlessly across multiple platforms, offering creators greater independence.

GMG Ventures Invests in Unlock

Recently, GMG Ventures – a venture fund supported by the organization behind The Guardian newspaper – has made a strategic investment in Unlock. Unlock is the company developing an open-source protocol, built on Ethereum, specifically designed for the monetization and management of community memberships.

Details of the Funding Round

The $4 million funding round saw participation from several prominent venture capital firms. These include Betaworks, Cygni Labs, GMG Ventures, and Metacartel Ventures China, alongside contributions from existing investors.

Unlock’s Current Applications

Unlock reports that its membership and monetization solution is currently utilized by a diverse range of creators. This includes artists, musicians, game developers – notably Decentraland – writers, and various Discord communities.

Furthermore, Unlock is actively pursuing partnerships with major media organizations, integrating its protocol into their existing systems.

CEO’s Vision for the Future

According to Unlock CEO Julien Genestoux, “With the funding we have raised to date, Unlock will continue growing to become the most complete, open source platform to achieve this goal.”

Genestoux brings prior experience to the role, having previously founded Superfeedr, an RSS feed API that was later acquired by Medium.

Unlock’s Technology and Origins

Established in 2018, Unlock operates as an NFT-based protocol, recording all transaction data on the Ethereum blockchain.

The protocol offers practical applications, such as a WordPress plugin enabling developers to integrate membership/subscription features. A community-developed Shopify plugin also allows retailers to offer Unlock-based purchase options on their websites.

Industry Perspective on Unlock

Thomas Lueke of Cherry Ventures commented: “Unlock’s open source protocol for creator community memberships is poised to redefine the way creators interact with and grow their audiences in the years to come.”

He further stated, “We look forward to celebrating Unlock’s growth as it continues to navigate this space and are excited to have invested in the company.”