The Web3 Foundation joins the project that seeks new sources of income for the media

• The world of academia, journalism, and technology join forces to study new models of sustainability and credibility for the media industry
• The project is supported by large and recognized organizations such as Wan-Ifra, Oxford Internet Institute, and the Web3 Foundation

Madrid, August 29, 2022.- The Swiss-based Web3 Foundation, whose flagship project is the Polkadot blockchain protocol, is pleased to announce its support for a pilot project that will explore ways in which Web3 technology could help generate trust and develop new revenue streams for news publishers and content producers.

The Foundation will contribute its technological experience thanks to a team of cryptographers, economists, and researchers who study protocols for the advancement of the Internet. It will also support funding during the research phase of the project, which is a collaborative partnership led by David Tomchak, Visiting Fellow for Policy at the renowned Oxford Internet Institute, in collaboration with the World Association of News Publishers ( WAN-IFRA ). 

A portion of the funds allocated by the Web3 Foundation will be awarded directly to publishers through a scholarship program coordinated by WAN-IFRA for its members. The grant is intended to help selected publishers free up the resources needed to join the pilot.

The pilot will run between October and December 2022 and will bring together local and international news publishers and technologists to investigate practical applications of decentralized technologies for the publishing industry.

The main goal of this research is to provide a learning and knowledge-sharing space between the media industry and Web3 advocates. The results of this plan will be included in a technical construction roadmap and will be available for public consultation.

Ursula O’Kuinghttons, Director of Communications and Partnerships at Web3 Foundation, said: “We strongly believe that Web3 can play a leading role in modernizing the ways in which digital news will be created, delivered, distributed and monetized in the future. . The proliferation of centralized social media channels has made it difficult for people to identify trustworthy news sources and this project can play a leadership role in addressing those concerns.”

Úrsula was part of the founding team of Civil Media in New York, a project that created 18 newsrooms in the United States and pioneered blockchain experimentation for the media industry. She will speak at the World News Media Congress program that will take place in Zaragoza, Spain, from September 28 to 30, 2022. Web3 will be one of the priority topics.

Bertrand Perez, CEO of the Web3 Foundation, said: “We have a proven track record of supporting projects that share our vision of Web3, that is, an Internet that is fairer, more democratic, and gives users more control. about your data. As the flagship project of the Web3 Foundation, Polkadot is unlocking new business models and building trust among different stakeholders within the rapidly evolving world of Web3.”

Stephen Fozard, Project Manager for the Global Alliance for Media Innovation at WAN-IFRA, says: “It is crucial to understand the implications of Web3 for publishers in the future as early as possible. The only way to be relevant to our research and conclusions is to involve our members as early in the process as possible. We are proud and grateful to the Web3 Foundation for helping us do so.”

Project leader David Tomchak states: “We are delighted that the Web3 Foundation has agreed to partner with this project. Gaining your support is crucial in allowing us to complete the research in a way that offers a robust and practical solution for the media industry to use this technology. It is a partnership that would not have been possible without working with Stephen Fozard and the great team at WAN-IFRA. I believe that the new scholarships also announced today are an excellent opportunity for the members of the association”.

WAN-IFRA invites its members to apply for a scholarship to join the project. The scholarships (ranging between €1,500 and €4,000) are intended to compensate members for the time they will dedicate to the project, which must be at least half a day a week for 10 weeks.

WAN-IFRA members interested in participating in the project are invited to email [email protected] to request a form which must be completed by September 11, 2022, at 11:59 pm CET.

The project management team will select a minimum of two and a maximum of three media organizations with the aim of starting the pilot in early October.

About the Web3 Foundation
The Web3 Foundation funds research and development teams that build the technology stack for the decentralized web. It was established in Zug, Switzerland by Ethereum co-founder and former CTO Gavin Wood. Polkadot is the Foundation’s flagship project. For more information, visit web3.foundation.

About WAN-IFRA
The World Association of News Publishers is the global organization for the world’s press. Its mission is to protect the rights of journalists and publishers around the world to operate independent media. It provides its members with expertise and services to innovate and thrive in a digital world and play a crucial role in society.

About the Oxford Internet Institute
The Oxford Internet Institute is a multidisciplinary research and teaching department of the University of Oxford, dedicated to the social sciences of the Internet. The OII has access to a large volume of rich social data and develops new theories, concepts, and methods to analyze it. More information about Ol

Contact: 
ATREVIA
Gabriela Rodriguez | Ruben San Isidoro
[email protected] 
+34 915 640 725