On the horizon: The creator economy is moving to Web3
Though it is beginning to recede in memory, the bear market of 2022 dealt a major blow to public confidence in blockchain technology’s potential for practical use and mass adoption. The collapse of blockchain platform, Terra, and the dissolution of crypto hedge fund, Three Arrows Capital and global exchange, FTX, damaged the financial well-being and reputation of the entire ecosystem.
Nonetheless, during these challenging times, projects with real substance and use cases have continued to build and develop, and Web2 giants, such as Amazon and Mastercard, have been quietly establishing key infrastructure and partnerships in the space. As 2023 progresses, we are seeing new ideas and approaches begin to truly flourish.
While novelty and exploration marked the rise of crypto in 2020 and 2021, the next great wave will likely be focused on sustainable solutions to real-world problems and could feature tighter connections to traditional companies, who have now become more established and connected in Web3. That’s why the content creator economy, with its highly developed Web2 infrastructure, presents one of the most promising and lucrative areas of interest for blockchain developers, users and investors.
It may not be long before you can purchase tokens that grant you revenue rights to your favorite YouTube channel, film company or video game, or gain special, exclusive access to the artists and musicians you love. Web3 promises to enhance and deepen all aspects of our media experiences.
For any content creator, seeking to elevate their brand, discover new streams of revenue or connect with fans on a deeper level, decentralized digital assets serve as a powerful and versatile tool. Tokenization can benefit creators of all kinds:
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