The Creator Economy & WEB3
The Value Of Expression & Creation
Approximately 14 years ago we saw the introduction of what we now know and interpret as an influencer. Companies such as Sponsored Tweets began aligning celebrities, and other high profile accounts with “advertisers”. Essentially, a high-profile account was able to charge rather exorbitant amounts to publish a sponsored tweet. This was the birthing of the creator economy. It began very much as an influencer-based model, but over time experienced a maturation that eventually brought about the concept of content creation.
Blogging, as such, has been around for ages. However, content creation is a lot more than simply blogging. Content creation explores all forms of expression, and especially, artistic expression. It incorporates and hinges on artistic and creative expression, hence the term:
Creator economy
WEB2 has done a fairly good job of enabling creators to monetize and redistribute their content. However, when you study and examine the endless possibilities within the WEB3 model, it becomes abundantly clear that WEB3 is perfectly suited to the creator economy.
It almost appears as if WEB3 was conceived with creators and artists in mind. Private ownership is something that most artists are rather particular about, and is somewhat of a concern when it comes to existing WEB2 models. I believe NFTs are still going to play an enormous role in the future. However, there is still much that needs to be re-established and clarified in terms of where and how value exists. Regarding this aspect, in particular, NFTs still have a long way to go.
The amount of wealth that will be created in this particular niche and expression of WEB3 over the next decade is quite simply, staggering! There is an enormous shift taking place, regarding the monetization of content, information, and creative artistry. Eventually, the medium that offers the most opportunity gains the majority of the market… and that’s WEB3. Remember, understanding, realization, and adoption take time. Historically speaking, the greatest ideas of all time were also subject to a lengthy period of scrutiny.
The Ideal Solution
In a world where censorship and failure are rife, WEB3 offers the perfect solution for content creators. Essentially, creators can seek out and utilize decentralized networks (like Hive) that are not subject to censorship, and simultaneously enable creators to own and hold their creations. As a result, creators maintain and preserve their artistic expression, while simultaneously not needing to trust a third party with their work. NFTs are still going to play an enormous role in the mechanics of this idea.
There is an ongoing process of maturation, development, and discovery in motion, and is vital if we are to take full advantage of WEB3. What we are already witnessing and experiencing regarding WEB3 is rather impressive when we consider how early this technology is. For many, the shift to WEB3 will begin as an exercise of diversification. Creators will begin testing and exploring WEB3 from a rather reserved, and even hesitant stance. However, that’s how many of us got started in Crypto. You dip your toes first… and then you go all in.
Final Thoughts
Some have their doubts as to whether WEB3 will succeed or not. However, many of these voices have a direct conflict of interest. What else are they going to say? As I mentioned in a recent post, Elon’s move to monetize content is very much a “reaction” to WEB3 models and essentially provides an incentive to remain within a WEB2 construct. Unfortunately for WEB2-based models, the attraction of WEB3 extends beyond monetization.
Personally, I believe that as time passes, the inherent benefits of WEB3 are going to become increasingly attractive, especially for creators and the creator economy. I am in no rush, and am quite simply, enjoying the journey. As long as you are building a presence on WEB3, and establishing yourself within the ecosystem, that’s all that counts… we will get there eventually. See you next time!
Disclaimer
First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.
This article was first published on Sapphire Crypto.
