The creator economy is a game-changing, internet-enabled market and community where content creators generate revenue by creating original content and sharing content with millions of followers. The creator economy has reached every corner of the digital world, thanks to global internet connectivity.
The term ‘creator economy’ is about a decade old, but its recent boom has been fueled by the COVID-19 pandemic over the last two years. The ecosystems of millions of users, content creators, and brands powered by the internet, blockchain, and Web3 combined to boost the creator economy’s market capitalization.
Fifty million independent content creators, curators, and community builders, including social media influencers, bloggers, and videographers (plus the software and finance tools), help the creator economy grow and monetize.
In recent years, we’ve seen the pandemic’s pressure merge with these social networks to generate a new type of entrepreneurship. A generation has grown up believing that they can transform their interests into business with the correct strategy.
Creator economy: value and potential
By 2023, the creator economy is expected to be worth between $1 and $4.5 trillion. If the creator economy continues on its current path, it will be worth trillions of dollars in only a few years.
The creator economy accounts for just over 6.1% of global GDP, averaging between 2% and 7% of national GDPs around the world.
The creator economy has risen to prominence as a marketing and business powerhouse. Since October 2020, 31 startup capital investments have generated $800 million in revenue for the industry.
According to Kepios’ estimate, there will be more than 4.62 billion social media users worldwide in January 2022, accounting for 58.4% of the global population.
Key social media platforms
According to Buffer, the top social media platforms are:
- Facebook – 2.9 billion monthly average users (MAU)
- Youtube – 2.2B MAU
- Instagram – 2B MAU
- TikTok – 1B MAU
As of January 2022, YouTube had 29,000 channels with over 1 million subscribers.
The average time spent on social networking is two hours and 22 minutes per day. More than 3 billion people used social media in 2021.
New platforms are emerging
We’re seeing the emergence of new platforms that utilize the power of blockchain and Web3 to establish trust and create communication opportunities never seen before. One such example is DEIP.
Here, at DEIP, we’re hacking the system and changing the game —returning the intellectual property rights of content to creators through implementing Web3 and blockchain technology. The project aims to unite the community and bring creators, tech talent, crypto enthusiasts, and other stakeholders together.
DEIP uses unique blockchain technology, NEAR, as a relay chain infrastructure provider that focuses on its technology’s user experience and usability.
Instead of spending millions of dollars on television commercials, corporations have turned to social media, utilizing content creators on platforms like Instagram and TikTok and advanced blockchain-based platforms like DEIP to promote their products. Adidas, which has invested substantially in influencer marketing in recent years, reported a 24% boost in sales.
In a survey of 1,000 youngsters in the United States, 29% said they intended to pursue a career in vlogging. Children in the United Kingdom had a similar response rate, with 30% choosing a YouTube job. The most popular career choice in the US and the UK was vlogger/YouTuber.
Full time or part time
The creator economy is disproportionately divided into two categories of contributors:
- professional individual creators (approximately 2 million creators) who make their content full-time
- amateur individual creators (approximately 47 million) who create their content part-time
More and more people make their living by creating content. Earnings for creators vary greatly depending on the social media network they use. Despite having a presence on many platforms, Instagram is the primary content route for 72% of the сreators polled. Instagram has a large lead over TikTok and YouTube in content monetization, with 13% and 9% respectively.
In fact, 43% of influencers surveyed by influencer agency NeoReach said their content earns them a living wage of $50,000 or more each year. Of course, the influencers polled most likely were from the upper percentiles in terms of subscribers and viewers, but the numbers are impressive nonetheless.
New platforms welcome
Web3 projects gaining momentum
The number of platforms fueling the creator economy is growing, and the number of content creators using several platforms is also increasing. DEIP platform is the leading creator economy company that creates a unique Web3 protocol for intangible assets, helping creators achieve greater recognition and reward.
On March 29, DEIP announced that it would carry out its initial dex offering (IDO). All creators and token investors may participate in the sale and benefit from its development. At least 208,000,000 tokens will be sold as part of the IDO, 5.20% of all DEIP tokens. Following the IDO, participants in the public sale will receive their tokens at the token generation event.
The first stage of token generation will take place at the Boca Chica platform on April 12. The second stage will commence on April 15 at Skyward.finance.
DEIP token is a native token in the DEIP network. The token serves multiple purposes and can be used as a payment mechanism, governance token, and staking for yield farming in the network.
It’s high time you become the owner of these promising DEIP tokens. Make your investment in a profitable future today!