What is Mirror?
The Mirror is an “essential Web3 toolkit for sharing and funding anything”, a Web 3.0 publishing platform that offers a suite of tools that empower anyone by bringing them one step closer to achieving the full potential of their content. It is also Ethereum's first great alternative to mainstream publishing platforms like Medium and WordPress.
Some of their highlights:
Importance of Mirror
Now anyone could put out anything that they've published as NFTs, enabling their biggest fans to support them and become early investors in their work. Readers could send tips and receive tokens as a reward for supporting their favorite writers which results in building a vibrant community and Mirror provides smart contracts for crowd-funding a new initiative directly from the writings.
All this by completely circumventing advertisers who constantly interrupt your reading flow by getting in your face with messaging hints at every visit!
How does Mirror.xyz Work?
Mirror uses Arweave to permanently store users' content. The average cost of storing data on the decentralized storage protocol currently is $0.01 per gigabyte, which Mirror takes care of for its users. In doing so, they are able to offer free publishing services. Additionally, unlike traditional online platforms that require strenuous login processes and accounts, Mirror uses
"Sign in with Ethereum" method for authentication. It makes independent verification possible through a non-Ethereum keypair that signs the posts and is stored in Arweave which then is paired with the writer’s Ethereum address. Nobody has to disclose any private information, no need to sign up for an email account, and no need to create a new password.
Key Features
- Mirror Editor
This text editor and publisher lets users build posts with media blocks. eg: Images, crypto-economic blocks, and embedded auctions.
- Crowd Funding
Mirror lets users crowdfund a project, i.e. an Ethereum smart contract for raising funds, via its text and media blocks - like videos. Contributors receive a token(ERC20) that represents their participation and ownership in the project.
- Splits
Split is an ERC20-compliant smart contract-based payments routing mechanism that lets creators allocate funds from auctions or donations to “collaborators, the people that have inspired you, or to donate proceeds from your work.”
- Entry NFTs
Posts on Mirror can be minted as 1/1 non-fungible tokens. This means that they are collector items that anyone who wants a souvenir of this moment in time or just an avid fan can help the creator get some financial backing for the creation of future projects!
- Edition
Functionality for creating a limited supply of identical NFTs at a fixed price, e.g. 100 pieces of crypto-art. This new feature will bring about an exciting new implementation for non-fungible items and will allow users to create fixed editions, as well as trade and identify digital art through various methods on the blockchain with ease.
- Entry Editions
Creators can use this tokenization system to mint their Mirror posts as limited-edition NFTs instead of 1/1s.
- Tokens
A decentralized frontend for easy ERC20 token minting and distribution of governance tokens to build vibrant communities.
How to create a Crowdfund?
1. Head over to mirror.xyz and connect your wallet.
2. Go to Dashboard.
3. To skip every interaction allow remembering you.
4. To set up crowdfund select Crowdfund and click on “Create Your First Crowdfund”.
5. Fill out ‘Basics’, “Goal and funds”, “Token”, “Story” & “Go live”. Required
5. Fill out the required details(Basics).
6. Fill out the required details(Goal and funds).
7. In the Funds recipient section fill the wallet address to receive funds.
8. Fill out the required details(Token).
9. Fill out the required details(Story).
10. Verify the filled-out required details(Go live).
11. Confirm the transaction and your crowdfund is live!
The Crowdfund will be live after the confirmation!!
Summary
Mirror is a tool owned and controlled by the users that’s helping users to express their own content in the way they see fit without limitation and additional tools even for beginners with templates to do from minting NFTs to Crowdfunding a cause or idea which represents the coming age of decentralized networks and blockchain technology as a whole.
Useful links