The creator economy is a new economic model in the Internet era in which independent content creators (e.g. bloggers, social media netizens, videographers, etc.) publish their original content and earn revenue through decentralized platforms or communities. The current creator economy includes more than 50 million content creators and curators, community builders, and financial and software tools that provide revenue services to creators. the uneven distribution of revenue, lack of content management rights, and vicious competition revealed in the Web2 creator economy have driven creators to migrate from Web2 to Web3. the Web3 creator economy gives creators control over their content. Web3 creator economy project type application scenarios cover content creation, NFT issuance and trading, community building, fan incentive, and asset management, which has formed a complete value chain to help creators use content, NFT, and social tokens to closely connect with fans.
Web3 solves the pain points of Web2 creator economy.
The Web3 creator economy has four advantages over the Web2 creator economy: creators have control over content, original content protection, screening of quality content, and improved creative revenue.
In the Web2 creator economy, the content uploaded by creators is stored in the centralized storage platform, and the content dissemination and distribution are done by the platform, and the use of the content by the creators is restricted by the platform. The creators can make their content into NFT for distribution, and the smart contract of NFT and the creation of wallet address have a certain certain power of certainty.
The biggest difference between Web3 creator economy and Web2 is the introduction of blockchain technology, where all contents are chained and generate unique smart contract addresses. The problem of plagiarism, imitation and transportation that often occurs in Web2 platform causing the final originator to suffer from interests is solved in Web3 era. For example, based on Mirror's revenue diversion function, users can not only clearly restore how much the work is based on the adapted work, but also give corresponding returns to the adapted object directly through smart contracts, which helps mobilize the enthusiasm of originality and promote more high-quality original works to appear.
Web3 social platform has established a screening mechanism for user-submitted content, which mainly includes platform selection, user selection and robot screening. Through the above screening methods, the platform provides tokens, NFT and other rewards for quality content to motivate creators to submit original, market-neutral and high-quality content. For example, Yup tokenizes the influence of social activities such as likes and comments on content quality, and allocates the rewards to content with more social value. In addition to the content screening mechanism, the social platform also has a reward mechanism where users can reward their favorite content and the reward funds are distributed directly to the creators, stimulating their passion for creation and helping to improve the quality of their content.
NFT platforms, social platforms, and content distribution platforms provide creators with access to revenue. Creators can make their content available for sale as NFT through tools to earn revenue. The reward mechanism and token reward mechanism of social platforms and content publishing platforms provide income for quality content creators. The problem of inequitable distribution of creators' revenue has also changed in the Web3 era. Subject to the content distribution of centralized platforms, head creators are allocated most of the revenue, while small bloggers do not have a good push stream and revenue. The decentralized platform content distribution mechanism is more flexible, coupled with the platform reward mechanism, allowing more creators to enjoy the creation dividend.
The above are only personal views and opinions, and refer to Zhihu user: BIBI.