If you’ve not heard what’s the furor about, here it is: Twitter is limiting how many tweets per day various accounts can read, to discourage “extreme levels” of data scraping and system manipulation, Executive Chair Elon Musk said in a post on the social media platform on Saturday. Verified accounts were initially limited to reading 6,000 posts a day, Musk said, adding that unverified accounts will be limited to 600 posts a day with new unverified accounts limited to 300. The temporary reading limitation was later increased to 10,000 posts per day for verified users, 1,000 posts per day for unverified and 500 posts per day for new unverified users. We see the beginning of paywalls here. In general, a paywall works on a subscription model — the user pays a fixed monthly fee to access the content, either fully or in parts.
Elon Musk’s data scraping rules and OpenAI’s decision to widen the release of their “browsing” function are counterpoints in the struggle to monetize data access through paywalls. Musk had complained that hundreds of organizations or more were scraping Twitter data “extremely aggressively”, impacting user experience. He expressed displeasure with artificial intelligence firms like OpenAI, the owner of ChatGPT, for using Twitter’s data to train their large language models. The greater question begs an answer: will the paywalls lead to fair creator compensation?
These developments have brought to light the vulnerability of freely accessible content in the digital domain. As AI models like ChatGPT scrapes data and then, present this data to numerous users, the effectiveness of ad-based revenue models becomes compromised. The Internet has undergone a significant transformation over the past decade. Previously, many online platforms relied on advertising-based business models to generate revenue. Users could access a vast amount of content for free, while advertisers paid for exposure to a broad audience. But, with the advent of data scraping and advanced AI technologies, the sustainability of this model has come into question.
If you want exclusive Twitter access, Twitter Blue is an opt-in, a paid subscription that adds a blue checkmark to your account and offers early access to select features, like Edit Tweet. Subscribe now with localized pricing starting at $8/month or $84/year in available countries to get the blue checkmark in addition to early access to features. No new subscriptions on Android or the web will be possible beginning November 9, 2022, until the new $7.99/month Twitter Blue is available on those platforms. Current Twitter Blue subscribers who subscribed through Android or the web have the option to cancel the service if they wish.
The shift toward paywalls and account walls
To adapt to this evolving arena, platforms are increasingly implementing paywalls or account walls. By restricting access to their content, they aim to create new revenue streams and protect their intellectual property. This transition not only affects traditional news media but also impacts a wide range of digital services, including entertainment, e-commerce, and knowledge-sharing platforms.
As paywalls become more prevalent, the demand for exclusive content has created a new avenue for Non-Fungible Tokens (NFTs). These unique digital assets, built on blockchain technology, enable creators to monetize their work and provide exclusive access to their audience.
Microtransactions and the tokenization of content through NFTs
Blockchain technology allows for microtransactions, enabling users to pay small amounts for interactions or page views. This shift from ad-based models to microtransactions aligns with the increasing popularity of cryptocurrencies and decentralized finance. By tokenizing content, platforms can offer more granular access to their users while ensuring that creators are compensated for their contributions.
NFTs have gained significant traction in the art world, but their potential goes beyond that. These tokens can act as digital keys, granting access to specific content, services, or experiences. For instance, travel-related platforms could offer NFTs that provide access to curated travel itineraries, insider tips, or unique travel experiences. By doing so, they create an ecosystem where only NFT holders can access premium content.
The future of digital access
The digital world is undergoing a fundamental transformation, with a shift towards paywalls and account walls becoming increasingly common. This change has been driven by the need for platforms to adapt to the limitations of ad-based revenue models. In turn, this shift has opened the door for the rise of NFTs as gatekeepers of exclusive content. As microtransactions and blockchain technology continue to evolve, NFTs have the potential to revolutionize how we access and consume digital content, ensuring fair compensation for creators while providing users with unique and personalized experiences.
