Web3 Social Platforms Will Enable Anyone To Become A Content Creator
Content creation is an integral pillar of online entertainment today. Whether it is video, text, art, or other content, it would be impossible to consume it without the hard work put in by dedicated creators. Web3, and the social platforms embracing this technology, can offer an avenue to grow the content creator economy by leaps and bounds.
Web3 Content Creation Opportunities
In theory, anyone can become a content creator now or in the future. The big question is whether those creators can adequately monetize their content without friction. That proves tricky in today's landscape, with social platforms censoring content regularly or preventing people from monetizing it. Outside of YouTube or being a paid influencer on Instagram, options for monetization are minimal.
Web3 may change that narrative for the better, and one doesn't need to be a celebrity to make the most of it, either. Artists, writers, video creators, and other enthusiasts see merit in experimenting with new monetization options like NFTs. Unlike traditional approaches, an NFT can serve as a "fan token" with perks tied to it in exchange for supporting the creator.
Moreover, the current and future generation of content creators can rely on social tokens to build projects, provide incentives, and generate social buzz. Fans can put in more work and earn rewards, which can lead to them redeeming perks in the virtual economy. In addition, they can convert their earnings to cryptocurrencies and real-world money if they prefer to do so.
Unlike in the current Web2 world, Web3 will shift power from big platforms to individual content creators. If people stop creating content, platforms like Instagram, YouTube, and Twitter will lose traction overnight. With decentralization as a priority, it will help transform monetization systems to enable direct value exchange between owners (creators) and consumers (their audience).
Building Audiences Through New Social Platforms
It seems unlikely TikTok or Spotify will embrace Web3 technology and transform their current business model. After all, these companies continue to rake in money thanks to their creators, so there is no immediate reason to change anything. However, for content creators, now is the time to explore the social platforms that value Web3 technology and its opportunities. Everyone deserves to be rewarded for their work, rather than a select few.
That said, some of the bigger social players will explore Web3 opportunities. For example, meta, the parent company of Facebook and Instagram, has made its intentions rather clear. Reddit also sees potential benefits in Web3 technology, introducing a Collectible Avatar Marketplace. Although most efforts revolve around NFT support, it marks an important first step toward embracing decentralized technology.
While the old guard figures out its approach, new competitors have begun to emerge. One such platform is Taki, built on an engage-to-earn social network structure. Users are rewarded and gain a stake in the overarching network. Earning rewards is possible through community participation, either as a fan or content creator. In addition, users can use the native $TAKI token to buy User Coins, indicating the value and influence creators bring to Taki. To date, the platform has over 500,000 users - during the invite-only alpha, with the waitlist surpassing 600,000 users - and a $2.5 million creator fund to fuel user adoption.
Laying the foundation to reward current and future content creators is essential. However, there needs to be a strong focus on engaging creators and their audience. For instance, Web3 platforms can organize competitions, fuel collaborative efforts, host tutorials, and online courses, etc. There is a growing demand for content, yet there aren't enough creators to put it all together. With Web3 and its native social platforms, that may finally change for the better.
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