Buy Unlock Protocol (UDT)

What is Unlock Protocol?

Unlock Protocol is a decentralised protocol designed to help creators monetise their content efficiently. It allows for the creation and management of memberships and subscriptions through smart contracts designed specifically for this purpose. The protocol supports functionalities like token gating, time-based memberships, and the creation of subscription NFTs, playing a significant role in decentralised content monetisation.

How does Unlock Protocol work?

Unlock Protocol operates on multiple blockchain networks, including Ethereum and its various L2 solutions, using a smart contract-based system. The core components are the "Unlock contract," which is a factory contract, and the "PublicLock contract," which developers use to create membership NFTs. These contracts leverage the Ethereum blockchain's capabilities, supporting a wide range of currencies and enabling the creation of memberships, subscriptions, and gated content access.

What are the potential use cases for Unlock Protocol?

Unlock Protocol can be applied in several areas:

• Content Monetisation: Creators can use it to manage subscriptions and memberships.
• Event Ticketing: It can facilitate secure and transparent ticketing solutions.
• Digital Credentials: Issuing and managing digital credentials and certifications.
• Loyalty Programs: Businesses can use it for creating NFTs that represent customer loyalty.

What is the history of Unlock Protocol?

Unlock Protocol was founded by Julien Genestoux in 2018, following his experience with the limitations of traditional internet monetisation models. The protocol initially tested on Rinkeby and later deployed on Ethereum Mainnet. It has since expanded to operate on multiple blockchain networks and introduced a token migration from UDT to UP. The establishment of the Unlock DAO has further decentralised its governance, while the protocol continues to gain traction across various industries, such as indie music and content creation.