The emerging innovations in the blockchain sector are helping creators to make more revenue from their work and reach unprecedented levels of autonomy.
With blockchain technology, celebrities, sports stars and artists have at last found exceptional and more powerful methods of monetizing their work, developing stronger bonds with communities, and operating autonomously. It is time to move to new technologies, and here are the main tips for shattering the barriers to reap more from Web3 technology.
The Inefficiencies of Web2 Structure
According to Solo Ceesay, the chief operating officer and co-founder of Calaxy, the erratic features of Web2 algorithms has made creators keep gambling for spots in social feeds. As a result, it has become challenging to maximize value from content creation, making revenue streams unreliable. It is impossible to operate a successful business in such conditions.
Web2 empowered small groups that create social media algorithms and ad functionality to monopolize the protocols and determine the creators who make money and how much. The way these brands interact with tyrannical power dynamics leaves creators out. Social media firms use brands to generate ad revenue, while brands use social media for exposure to drive following and influence. This matrix leaves digital creators at the mercy of brands and social media behemoths.
Web3 has allowed direct access helping to eliminate the power hierarchy so that creators can take control of their operations. Through the decentralized platforms, creators are able to conveniently link with their fans.
Web3 Offers Career Stability
Content creation in Web3 is completely different from Web2 because creators are able to determine what to charge and in what conditions. Therefore, social media will become a career choice, making it possible to clear off unpredictability that discourages participation.
However, more fans and creators are not yet conversant with Web3’s mechanics, especially how easily it makes it possible to access content and develop sustainable business models. Developers have to step in and address this gap to help address the shift of power from giant multinationals to content creators.
Time to Correct the Wrongs
Web3 is offering creators the opportunity to correct errors ingrained in the current social platforms. We have, at one point or another, noted Web2 algorithms discriminating against some marginalized communities.
Indigenous American activists have determined that their Instagram posts were being censored. Already black creators have filed a lawsuit against YouTube for removing their content under racial prejudice. TikTok critics have cited the “filter bubble” style algorithm that pushes videos from the same demographic of people. Some black creators have opted to stay away.
Direct engagement on Web3 platforms is helping fans and creators to bypass algorithmic discrimination and give minorities equal opportunities to grow their careers.
The most important lesson, as Ceesay emphasizes, is that Web3 projects must provide educational initiatives that can be able to reach all communities no matter their location. There is also a need for education on the available methods of monetization and benefits of content creation in Web3.
