- FONT: Beauty in Simplicity
Just now·5 min read
A few years ago, the iconic font company Monotype was bought by a private equity house for $825 million. It is hard to accurately measure the full scale of the font industry since most font companies are privately owned (Font Bureau, Hoefler & Co., Dalton Maag), but the size of Monotype’s deal points towards the massive value inherent in this industry.
Fonts are everywhere. They make up a subtle but ever-present aspect of our daily lives: on websites, magazines, books, shopfronts, and advertisements. They have been around for hundreds of years and expanded hugely in the 19th century with technical developments in typesetting technology, being designed by large font companies such as Monotype. Fonts have evolved with technology, and today the marketplace for fonts is online and everyone can create a font at the click of a button. Platforms like Google Fonts and Adobe Fonts rack up tens of millions of views in site traffic every week, and creative assets marketplaces Envato and Creative Market bring in millions in revenue each year.
The beautiful Font Community website: https://font.community/
However, the existing platforms for buying and selling fonts come with a number of problems for font designers. The existing platforms are controlled by centralised platforms whose first interest is themselves rather than the designer. They control every aspect of the network from users, contents, and profit commissions, and they take significant slices of profit away from designers. Brands and businesses have to go through lengthy legal paperwork just to patent their company’s font. Fundamentally, fonts are assets and property that should be properly controlled by the designers that create them and the companies that commission them. A solution is needed for the font industry.
Font.Community is the NFT-based decentralised font marketplace that solves the problem. FONT ($FONT) allows creators to mint their fonts as NFTs on the FONT marketplace. This gives designers, companies and brands full ownership over their fonts and opens up a world of new income possibilities.
A comparison between Font. Community and existing online and traditional font marketplaces.
For creators: NFT fonts now belong entirely to them to buy and sell as they please, without having a commission cut off on each sale. For brands and organisations: they can now acquire ownership of fonts from designers in a single transaction and without any paperwork, and can resell the license/ownership to other brands with ease. The entire font marketplace is now in control of the interested parties: designers, brands, and investors manage the marketplace through the $FONT governance token.
Not only does FONT solve the problems of the font industry; it also brings a world of new use-cases to fonts through decentralised finance. With FONT, designers and brands can and borrow money against their fonts or lend their fonts to earn interest; they can raise funds for new fonts via an Initial Font Offering (IFO), and they can earn revenue in $FONT every time they create a font and use the platform. For investors, they can now invest in fonts for the first time by funding the next biggest font projects or holding a percentage of fonts from the top designers.
It’s clear that FONT is disrupting and democratising the font marketplace and opening up new possibilities for designers, brands, investors and users. From the simplicity of minting fonts as NFTs emerges a wide range of use-cases: FONT = NFT + DeFi + DAO.
The beauty of FONT’s project is attracting some of the biggest names in the font industry. FONT already has a partnership with Miles Newlyn, one of the top five font designers in the world who has designed logos and fonts for some of the biggest brands and institutions such as: Burger King, Unilever, McLaren, Land Rover, Sky, Honda, EE, Three, the National Trust, Tate Modern and more. His new fonts are due to be exclusively released on the platform.
Miles Newlyn is one of the top five font designers in the world with a portfolio of designs for some of the most well-known companies.
Not only that, but recently German typographer and designer Erik Spiekermann commented on Font.Community’s ($FONT’s) Twitter page, asking how he could turn his unpublished fonts into NFTs. Erik Spiekermann has started multiple design companies, with his SpiekermannPartners merging with Eden Design to become the Edenspiekermann design and marketing agency. Spiekermann has designed multiple commercial fonts and typefaces as part of corporate design programmes, and has won multiple awards for his work, holding honorary professorships at University of the Arts Bremem and ArtCenter College of Design.
In the font industry, having big names like this already partnered with or interested in FONT shows that Font.community is primed to take over the font industry with its simple yet beautiful technology and marketplace. Beyond the Newlyn partnership and those turning their attention to font, FONT already has multiple designers and font designs ready to go live on their platform.
In terms of roadmap, the Font.community platform launched on April 7th and the team are currently working on development and fixing bugs on the platform. The full-featured platform is due to be ready in Q3/Q4 2021 with fully-integrated crypto and fiat payments as scheduled. Leading up to this point, we can expect a string of partnership announcements and new font design announcements for the platform, and full marketing will commence in the next few weeks.
The current $FONT market cap is sitting heavily undervalued at around $2 million. Considering the fundamental strength of this project and the marketing drive and platform onboarding soon, we can expect the price of $FONT to appreciate dramatically in the coming weeks.
The font industry was already growing with the expansion of online platforms, moving away from the needs of small manufacturers to the needs of thousands of brands and millions of creative professionals worldwide. FONT will not only be at the centre of this expanding industry through its cutting-edge NFT technology, but it will also allow for a huge inflow of finance into the font industry through its DeFi capabilities and the financialisation of fonts. Overall, Font.community is a unique project which is solving a real-world problem and developing an industry massively through the beautiful simplicity of its technology.
The adoption of FONT’s platform will ultimately lead to growth in revenue for the project and appreciation of the $FONT token. But before that, speculation alone on this project should be high. We can expect this one to rip in the coming weeks.
- Date of publication:
- Thu, 04/22/2021 - 13:46
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