For too long writers and other creators have had their content devalued on the internet. On web2, stories, novels and articles are regularly taken from writers and shared for free. Although this makes content more accessible to more people, it still diminishes the work of the writers who invested time and effort into creating new content. This time and effort has, time and again, not been recognized or rewarded.

Enter web3, which has the potential to place writers and other creators back in control of their content. So what are 8 ways in which writers can benefit from web3 technology?

One. Identify Superfans

Unlike web2 where there is no easy way to differentiate a fan from a superfan (if platforms controlled by a large company will even disclose this information to writers), web3 gives creators the tools to identify their most ardent supporters. The number of social tokens or NFTs that a fan owns can be found on public blockchains (ex. NFTs minted on the Ethereum blockchain have data that is publicly searchable). This is not beneficial only to writers, who can prioritize engagement with their biggest fans. Fans also benefit from having their efforts recognized by their favourite creators.

Two. Reward early supporters

Unlike web2 where there is no built-in method for creators to identify and reward fans who supported their early work, web3 allows these fans to benefit financially from a creator’s success or the success of a creator’s project. Social tokens held by fans allow creators to pick out their early supporters from the crowd for special perks. These fans can financially benefit from the increase in a social token’s price or have rewards sent to them directly by creators.

Three. Monetize in a new way

Rather than having to sell a book in its entirety, pieces of a book can be sold through blockchain technology as NFTs. The intellectual property rights to specific characters or worlds within a story can also be sold on the blockchain without bringing in a mountain of administrative work, which is not possible on web2 technology but is an exciting new possibility with web3.

Four. Capture all your royalties

Writers on web2 have no way to continue to collect revenue from each book sale beyond the first sale. For all secondary sales, these profits are forever lost to the writer because there is no way to accurately or easily track these sales. On web3, writers can continue to benefit financially from the sale of their work through built-in royalty collection into NFT sales (ex. 10-12% of the revenue from each sale of the NFT into perpetuity). Since this is built into the blockchain technology, content creators are automatically given this royalty from secondary sales, making available a new revenue stream.

Five. Share IP easily

Web3 allows writers to share IP rights with their fans in a way that isn’t possible with web2. IP rights can be written into specific NFTs, with each NFT representing the rights to a character, world or item in a novel. Rather than the writer owning all IP rights in their entirety, web3 can fractionalize the ownership of pieces of a story without adding to the administrative work of keeping track of who owns which IP. IP is automatically tracked through ownership of an NFT and the development of IP can be more creative and inclusive if ownership is not concentrated in the hands of one person. IP can also be borrowed to use in a specific project in an easy way, through the borrowing and return of an NFT.

Six. Reduce reliance on centralized entities

On web2, large companies centralize information and act as the gatekeepers between a creator’s content and their potential fans. Google indexes articles based on their own algorithms in a system that is not transparent or necessarily benefits content creators. Data on web3 can be written into public blockchains, where the data is available to everyone. This means that writers are less dependent on a large company to make their content visible to potential fans.

Seven. Own your fan relationship

Unlike in web2, where large corporations and gatekeepers held the relationship between fans and creators, web3 lets creators own the direct relationship with their fans by cutting out the middleman. Instead of relying on a large company to keep track of fans, creators can use social tokens and NFT ownership to identify their fans and superfans. This direct relationship is beneficial to both content creators and fans. Creators benefit from having more visibility and direct influence over their fanbase. Fans benefit from having more access and direct interaction with creators and their work. Although web2 broke down walls and brought fans closer to content creators, web3 will allow fans and content creators to interact directly financially, build community and share ownership of IP.

Eight. Deepen your community ties

Web2 allows fans to interact with other fans in real time and to build their own communities online around shared interests. However, the creators do not benefit directly from the effort of their fans. With web3, creators and fans can work together more closely to build IP, commercialize projects and create content. Superfans that are already deeply involved and invested in the work of their favourite content creator can be rewarded for their efforts to build a community. Fans are also encouraged to participate more actively in this community because they can benefit financially as well if the community succeeds.