According to reports by SignalFire, the creator economy is rising exponentially and expects to accumulate more than 50 million people. The statement from Forbes states, “Ask a kid today in the U.S. what they want to be when they grow up. No longer is musician or athlete the top answer. It’s a YouTuber—an answer 3x more popular than an astronaut.” The instances are a piece of evidence that the creator economy will soon gain momentum.
The paradigm shift from ‘value capture’ to ‘value creation’ economy is eyeing the interest of significant leaders who also plan to democratize access to resources. With Web3 signaling a steady growth, the ease of accessing resources for creators and making value creation rewarding is essential in the 21st century.
DEIP as the leading creator economy company
DEIP is a creator economy protocol that aims to change the creative economy forever. The protocol helps fans to connect with creators and provides an entirely new source of income generation. DEIP provides Web3 protocols, applications, and tools for the creator industry to enable the transition from creative economy to creator economy.
DEIP is a multi-chain protocol for tokenization and governance of creator economy assets. The protocol enables on-chain discovery, evaluation, exchange, and licensing of intangible assets (Refers to digital art, videos, music, and other creative works). The intangible assets are synonymous with a widely used term in Web3 space, NFTs.
Non-Fungible Tokens (popularly known as NFTs) are digital assets that represent real-world collectibles and are recorded in smart contracts. With the advent of blockchain technology and NFTs, artists and creators got an opportunity to display their talent to the masses. As a GIF, picture, music, or artwork can be easily crafted in an NFT, it helps to eliminate the pesky mediators and provide the majority of share to the creators themselves.
The role of octopus network in the creator economy
The Octopus Network is a multi-chain interoperable crypto network for launching and running Web3.0 Substrate-based application-specific blockchains, aka appchains. It serves application-specific blockchains (appchain) by providing flexible and affordable leased security, out-of-box cross-chain interoperability, one-stop infrastructure, and a ready-to-be-engaged community for the appchains.
The network focuses on the community segment by acting as a meta-community that scaffolds new appchain communities via fundraising, recruiting, know-how sharing, tokenomics design, token listing, etc.
DEIP + Octopus Network = grand creator economy transformation
DIEP has recently established a partnership with Octopus Network to provide a platform for creators of tomorrow. DEIP, along with Octopus Network, is committed to unleashing a new wave of innovation for Web3, providing artists with a medium to interact and sell their creations. The creators can easily manage their work and sell NFTs or F-NFTs (fractional NFTs) to many people.
The amalgamation of Octopus and DEIP allows creators to build and launch their apps on Octopus Network. The creators can quickly push their content on DEIP and start generating revenues using NFTs or F-NFTs. DEIP is in the process of launching an Appchain on the Octopus Network that will help instill trust among the creator economy. Artists can then come forward to utilize the underlying technology of Octopus Network.
A partnership will help bring all of the advantages of DEIP to the Octopus Network. Alongside, the token holders will gain additional rights such as governance power, yield farming, and usage in the DEIP protocol. Octopus Network will allow DEIP to build on top of it as an appchain and bring creators from varied segments to the platform.