- During the past few months, the creator economy achieved tremendous growth.
- The creator economy and Web3 technology are expected to converge in the future.
The creator economy is a thriving sector now, which continuously flourishes day by day. The recent technological advancements have increased the potential of the creator economy. The number of entertainment platforms with billions of users globally, including TikTok and Instagram, have given substantial revenue streams for the content makers.
The people who develop, own, and distribute the content through text, podcasts, music, videos, movies, games, etc, that are consumed by their audiences are known as creators. These content creators monetize their skills by posting content on websites with advertisements, partnering with companies, collecting subscription fees, and offering services. They are infopreneurs who utilize it as a tool to interact and engage with their audiences.
A New Version for Content Creators
The future of the creator economy is Web3. The principles of the creator economy such as ownership of work, decentralization, and flexibility also came into being at the same time as Web3. It is expected to see more convergence between the creator economy and Web3 over the next few years as the world approaches the next iteration of the internet.
The first generation of the Web3 creator economy is creator-owned content. The organization that runs modern social media platforms owns the content that creators produce. However, in the upcoming years, the creators might own and control the platforms they use.
Without the current reliance on centralized third-party organizations, Web3 will make it possible for people to earn a living by creating work that they directly own. Through decentralized autonomous organization (DAO), it might be able to accomplish these advantages.
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