Decentralization revolutionizes the creator’s economy, but what will it bring?
From video game enthusiasts monetizing their passions as shout casters to fashion influencers supercharging their careers into livestreamers on e-commerce platforms, the creator economy flourished, evolved and matured in the past year. Largely catalyzed by the ongoing COVID-19 pandemic, contemporary creators benefited from the gradual shift in consumer behaviors as more people came online across the globe. Now valued at over $100 billion, the creator economy is witnessing staggering growth as the worlds of e-commerce, social media and online communities converge.
With opportunities mounting in social tokens and corresponding virtual playgrounds such as the Metaverse, the year ahead seems to be filled with a great deal of promise. What lies ahead for creators in an increasingly digital and decentralized 2022?
From OnlyFans to TikTok, social networks may give creators access to communities but these creators are what drive traffic to these platforms due to the strength of their content. Whether they are an artist, musician, writer, photographer or all-around influencer, they are the true revenue drivers on these platforms. However, the relationship between a creator and their community is ultimately intermediated by a third party — the platform — which can impact the extent to which a creator is fully rewarded and compensated for their work. Sometimes this manifests itself as a cut in revenue and can even impact the type of content created and what it can include.
Related: Twitter and TikTok embrace NFTs: Mainstream adoption incoming?
Imagine if you could create without limits. This is the benefit that social tokens stand to offer. Blockchain-powered fan tokens can fulfill several functions: For one, they can be used to
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