In the 21st century, we are racing towards a creator economy, where people find a way to earn money by marketing their hobbies, skills, and interests online. The creator economy boom came as a result of the Internet’s unstoppable advance.
The 20th century was all about the industrial economy as we witnessed people earning their living by making stuff. In the middle of the 20th century, the world transitioned to a consumer economy. After the Internet and blockchain came into the frame, it transitioned to a knowledge economy before becoming a creator economy.
Before the advent of the Internet, the so-called ‘big media’ ran the world of entertainment and news. The television channels, radio, newspapers, etc., were all controlled by a handful of people. However, the Internet led to drastic changes as media became decentralized. Ordinary people like us create the content (whether spoken, written, or filmed). The consumption of content showed a positive sign that we are now in an era of the creator economy, which doesn’t rely on traditional companies.
What is a creator economy?
An ecosystem where creators can apply creativity and passion for making money is a creator economy. The main focus of the creator economy is to bring life and meaning to the traditional media landscape and empower creative people worldwide to bring out the best in them, driven entirely by their passion.
“The world is shifting from a value capture economy to a value creation economy.”
Decentralization has helped pave the way for every creator to reach their target audience directly, without the need for any middlemen. In turn, creators have the option to build strong businesses, even from a small, but dedicated, fanbase. This creative economy is fast-growing with an emerging set of technologies such as blockchain to enable innovative economic models.
Example: DEIP is a decentralized infrastructure, a Web3-based protocol. It is the leading creator economy protocol that enables the discovery, evaluation, licensing, and exchange of intangible assets. DEIP is designed for intangible asset tokenization (in the form of F-NFTs), governance (via DAO), and liquidity (via DeFi instruments and derivatives). DEIP has also launched the Global Brand Ambassador program for content creators.
How can companies benefit from the creator economy model?
The world is progressing fast, making it essential for brands to optimize their work to be in the game. The companies (or brands) need to remain relevant in this dynamic content creation and marketing world and empower the critical players in the field – the content creators. Web3 opens up the opportunity for creators to unlock their potential and monetize their creations. It’s time for brands to shift their focus from connecting with consumers to creating bonds with people by launching a Web3 startup.
Although both terms may seem similar, there is a considerable difference. While consumers only purchase the products, people build personal bonds with the brand. This is the birth of the creator economy as brands can build natural communities to talk to users in Web3 and add significant value.
The creator economy gives companies numerous possibilities to get the best results:
Value proposition: reaching new audience engagement opportunities
If done correctly, a scenario where brands sell a story or connect personally witnessed tremendous growth. Few in today’s generation pay attention to brand stories that don’t resonate with them.
In short, people look for a personal connection with brands that a good partnership with content creators can best provide. The value creation economy is better as the creators engage an audience and create better relationships.
Accessibility: rise of smartphone devices
According to Statista, more than 6 billion people use smartphones, and almost 4 billion are active on social media platforms. The platforms are easy to use and do not charge anyone to use the services. It allows anyone to create content and post it for the world to see. Plus, the platforms also embed editing software that makes creating content easy.
Education: marketing teams need to be aware of virtual platforms
The creator economy has given rise to game-changing platforms that marketers should know about. Marketers need to be active on platforms to understand creators and learn new strategies for approaching audiences.
DEIP is one such platform representing the future of the creator economy, a Web3 project for creators everywhere to monetize their work more effectively and reach substantial new audiences. The platform allows creatives and Web3 founders to use DEIP to accelerate their projects’ growth as it comes with all of the tools needed to capture value (in the form of F-NFTs) and grow.
Opportunity: Web3 offers endless possibilities for everyone
The opportunities flow to creators when they reach a substantial following in a specific niche and industry. They receive company collaborations, brand deals, and even the chance of starting their own businesses. Content creators often indulge in creating products, offering services, etc. harnessing the potential of previously untapped earnings.
Audience reach: creators know how to reach the audience
As content creators spend a lot of time on social media platforms studying the humor, language, and overall culture of their demographic, they become experts in reaching the most niche groups. It opens up new ways to become relatable and gain a following, dictating current and future trends. Brands can directly hit this reach by forming deals with these creators to promote their products to the creator’s audience.
The future will witness a steady rise of the creator economy as most resources, except intellectual and human capital, will become commodities. However, the human brain or knowledge-based assets will remain with real people who will serve as the primary drivers of economic growth.
DEIP is a leading creator economy protocol that focuses on creative industries and creating the most advanced decentralized protocol (with the help of blockchain-based solutions). The protocol aims to make it a foundational infrastructure for unlocking the full potential of creators worldwide.
We’re innovative, ambitious, and care greatly for humanity, so together let’s change everything for the better!