- Individuals representing a wide array of media titles in multiple jurisdictions come together in an exciting collaboration
- The worlds of academia, journalism and technology form a coalition to study new models of developing value and trust to help sustain a diverse media industry
- The coalition working on the project is supported by WAN-IFRA (the World Association of News Publishers) and aims to research how media institutions might operate with and benefit from using the decentralised technologies associated with the Web3 movement
- The project has issued a number of bursaries to help fund participants’ involvement in the research
Zug, Switzerland. November 3rd, 2022. Embargoed 9am CET — Web3 Foundation, whose flagship project is the Polkadot blockchain protocol, is pleased to announce the following partners are joining Cogency, a pilot project which received a Web3 Foundation grant and is designed to explore ways in which Web3 technology could help build trust and develop new revenue streams for media outlets and content producers.
Over the last decade, decentralised technology has evolved and matured to the point that now is the right time for the media industry to investigate how this technology could be applied across the industry. It is time to move beyond short-term gain and novelty products to create long term, strategic value using decentralised tech.
What sets the research Cogency is doing apart from previous projects is how the participant institutions are working together and adopting the ethos of collaboration that is crucial to decentralisation. These traditional organisations, which over decades have developed and earned invaluable institutional knowledge, are researching how to create new structures so they can participate in decentralised ecosystems in a way that benefits everyone.
Cogency is therefore uniting a wide and diverse range of publishers, technologists and content makers, ranging from local newspapers to international news, current affairs and lifestyle brands.
For the future of media, decentralisation, interoperability and openness will allow third parties to integrate themselves more easily into the evolving metaverse. Without a doubt, this will allow for more companies to access and create new business models.
The following brands are among those who joined the coalition, which began in October:
Launched in 1990, Público is a popular newspaper of record for Portugal, covering a wide spectrum of news content. In 1995, it became one of the first mainstream Portuguese titles to launch an online offering.
The global media company home to iconic brands including Vogue, The New Yorker, GQ, Vanity Fair, WIRED, Architectural Digest and Glamour. Headquartered in New York and London, the company produces award-winning journalism, content and entertainment for every platform today and operates in 32 markets worldwide including China, France, Germany, India, Italy, Japan, Mexico, Spain, Taiwan, the U.K. and the U.S., in addition to local licence partners across the globe.
With around 2,500 journalists and 600 photojournalists in about 200 offices worldwide, Reuters is one of the largest news agencies in the world, Established in London in 1851, Reuters has long been a byword for reliable, accurate journalism.
A connecting bridge between global innovation and capital, GCV nurtures innovation by creating platforms and channels where investors and entrepreneurs can get together and assess emerging future trends.
Eidosmedia is a publishing software company delivering content services platforms to news media groups worldwide. Its services are focused on facilitating content creation and the processes that allow that content to be delivered.
With more than 200 publications in digital publishing, Brightsites has built a content management system which provides journalists with an evolving tool suite using data-driven AI, featuring embed recommendations, and integrations with social platforms.
Le Parisien and Les Echos are both located in Paris, and both owned by LVMH. These two sister titles are published on a daily basis, with Le Parisien covering news on all levels while the latter is focused on the financial sector.
Mediahuis is a young and forward looking multimedia group, founded in Belgium in 2014 with headquarters in Antwerp. Known for its independent, reliable journalism, Mediahuis supports innovation in the news sector.
The Evening Standard is a London-based free evening local newspaper, covering news affecting the UK capital’s nine million residents, alongside national and global news. The newspaper is only published Monday to Friday.
The World Association of News Publishers, or WAN-IFRA, is the global organisation of the world’s press, providing its members with expertise and services to innovate and prosper in a digital world and perform their crucial role in society. WAN-IFRA derives its authority from its global network of 3,000 news publishing companies and technology entrepreneurs, and its legitimacy from its 60 member publisher associations representing 18,000 publications in 120 countries.
Web3 Foundation had announced in August it was ready to lend its technical expertise to the project as it continues to study protocols for the next phase of the internet. It is also helping to fund the research phase of Cogency, which is led by David Tomchak, a Visiting Policy Fellow at the Oxford Internet Institute. The World Association of News Publishers (WAN-IFRA) is also involved in this research phase.
A portion of the funding has been allocated by Web3 Foundation via a bursary scheme coordinated by WAN-IFRA for its members.
In September the following brands won the bursaries and joined Cogency:
- Groupe Les Echos and Le Parisien
The bursary is intended to help selected publishers free up the resources needed to join the pilot.
The main objective of this research is to provide learning and a space to share knowledge between the media industry and Web3 advocates. The resulting blueprint will include a roadmap for technical build and will be available for public consultation.
Quote from pilot participant Conde Nast:
Ciara Byrne, Vice President of New Business Innovation Condé Nast and active participant on the project said: "We are very excited to be a part of a collaborative project that brings together different parts of the publishing industry to ask how decentralised technologies might unlock new opportunities for media organisations and their audiences. The Cogency project and Web3 Foundation's practical, scalable approach, which focuses on trust and creating value, will hopefully help develop ideas that can benefit the entire publishing community"
Quote from Web3 Foundation:
Ursula O’Kuinghttons, Director of Communications and Partnerships at Web3 Foundation, who has worked in the media as a journalist and as an executive for more than 20 years, said: “We are pleased that individuals representing some renowned organisations share our belief that Web3 technologies can help redesign the media landscape. We’re excited to begin this collaboration and look forward to bring the results of this important research.”
Quote from Cogency project:
Cogency lead David Tomchak said: ”We are delighted that we’ve been able to create such a stellar coalition for this project. It’s a diverse, international group that will be thrilling to work with. The brands represent an excellent cross-section of professionals who are interested in creating practical solutions using Polkadot and its associated decentralized technologies.”
Quote from WAN-IFRA:
Stephen Fozard, Project Director, Global Alliance for Media Innovation at WAN-IFRA said: “We are proud to have been actively involved from the start of this project and were delighted to be able to invite our interested members to join. It is crucial to understand as soon as possible the implications of Web3 for publishers in the future.”
About Web3 Foundation
Web3 Foundation funds research and development teams building the technology stack of the decentralized web. It was established in Zug, Switzerland by Ethereum co-founder and former chief technology officer Dr. Gavin Wood. Polkadot is the Foundation's flagship project. For more information, visit web3.foundation
Cogency is a coalition of content makers, designers and builders who run projects that have meaningful impact. It is a small team focused on building value with inclusivity, equality, trust and kindness in mind. www.cogencylab.com
Director of Communications and Partnerships, Web3 Foundation