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.
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.
Unlock Protocol can be applied in several areas:
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.