Creators Can Win with Web3 After Web2 Failed Them. Here’s How.

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Cre­ators can win with Web3 and new tools, says Alex­ey Kulik, Chief Archi­tect and Co-Founder of DEIP.

Creators face an uphill battle

Out of the 4.2 bil­lion social media users in the world, 200 mil­lion con­sid­er them­selves cre­ators. But the over­whelm­ing major­i­ty (139 mil­lion) have 10,000 fol­low­ers or few­er. 75% of the com­mu­ni­ty makes less than $1,000 per year from their work. 

Web3 can change all of this. Cre­ators can direct­ly receive prof­its from their work, instead of going through giant cor­po­ra­tions. Web3 can also reward both col­lab­o­ra­tors and fol­low­ers in ways that enrich the com­mu­ni­ty and build connections.

The Web3 space offers unprece­dent­ed poten­tial for own­er­ship and control. 

Social Tokens

Take, for exam­ple, a social token. These can be bought, sold or even giv­en away, cre­at­ing a con­crete rep­re­sen­ta­tion of your reach, and your worth.

We can trace the roots of this idea back to the Web1 era, when David Bowie released Bowie Bonds. They secu­ri­tized all of his album sales and paid 7.9% inter­est until 2007.

Today, the artist called Por­tu­gal. The Man released PTM, a token that gives fans ear­ly access to con­cert tick­ets and archives of the band’s work.

In a sim­i­lar vein, buy­ers of rap­per Lil Yachty’s coins get spe­cial gift box­es curat­ed by his mom!

Now, musi­cians, celebri­ties, blog­gers and YouTu­bers have begun to cap­i­tal­ize on their grow­ing com­mu­ni­ties, giv­ing them exclu­sive access to the con­tent they crave and a direct con­nec­tion to the peo­ple behind it. 

How to create a social token

  1. Take stock of your fol­low­er com­mu­ni­ty. If you’re close with them and they already donate or sub­scribe finan­cial­ly, start gaug­ing inter­est in whether they’d be inter­est­ed in mov­ing to a token model. 
  2. Set up a pro­file on a social token site, such as Roll or Rally.io and apply­to cre­ate a token.
  3. Come up with a name for your social token, which will be used as your tick­er symbol.
  4. Cre­ate a launch plan. Think about the posts you and your col­leagues could make to drum up interest.
  5. Launch your token – and nev­er stop pro­mot­ing! Keep spread­ing the word, and even think about list­ing on oth­er exchanges.
creators and influencers have new tools to get ahead on web3

Utility tokens and cross-platform products 

NFTs are more than just con­tain­ers for dig­i­tal art­work. A non-fun­gi­ble token is unique and can­not sim­ply be exchanged for an equiv­a­lent token. Their nature makes them unique­ly suit­ed for prac­ti­cal, every­day applications.

Take util­i­ty tokens, which offer a decen­tral­ized alter­na­tive to tra­di­tion­al cen­tral­ized ser­vices like event tick­et­ing and orga­ni­za­tion mem­ber­ship. They can replace phys­i­cal objects with vir­tu­al ones, let­ting the blockchain take care of secu­ri­ty

NFTs can also be used to bring prod­ucts across plat­forms. Take, for exam­ple, the idea of dig­i­tal fash­ion. Design­ers can cre­ate phys­i­cal gar­ments in the ‘real world’ with dig­i­tal tie-ins. It can be a vir­tu­al garb that can be worn by a meta­verse avatar or an NFT cer­tifi­cate of authenticity.

The process of attach­ing out­side intel­lec­tu­al prop­er­ty, from art­work to designs, is actu­al­ly very simple.

  1. Make sure you have a cryp­to wal­let, with enough cur­ren­cy in it (such as NEAR or Ethereum) to pay mint­ing (cre­ation) and trans­ac­tion fees.
  2. Upload the intel­lec­tu­al prop­er­ty (art­work, designs or any­thing else) to an NFT plat­form, like Mint­base or OpenSea.
  3. The plat­form then cre­ates a dig­i­tal sig­na­ture of the IP, called a hash, and cre­ates a meta­da­ta file that con­tains this hash and a link to the NFT.
  4. The plat­form mints the NFT, which means that it writes the address of that meta­da­ta file into the blockchain. 
  5. Then you can list your NFT on a mar­ket­place, or even cre­ate your own store­front on a more flex­i­ble plat­form (using resources like Mint­base), allow­ing you to take con­trol over your creations. 

Creators transitioning to Web3

To pro­pel this progress for­ward, DEIP has launched its Glob­al Ambas­sador Pro­gram. It was designed to encour­age indi­vid­ual cre­ators to go back into their com­mu­ni­ties and spread news about and grow inter­est in the wide range of Web3 tools avail­able. It looks for cre­ators and influ­encers who are already plugged into their respec­tive indus­tries. These cre­ators have a clear under­stand­ing of the chal­lenges and poten­tial ahead of them. And, a net­work of like-mind­ed genius­es work­ing along­side them. 

We have revealed sev­er­al tools that make it eas­i­er for cre­ators to move to Web3 – social tokens, NFTs, smart con­tracts. All of them pro­vide cre­ators with copy­right, con­firm the unique­ness of their work and become an oppor­tu­ni­ty to mon­e­tize their work.

Web3 rep­re­sents a move toward a brighter, more empow­ered and less restric­tive future for peo­ple work­ing to cre­ate val­ue in the world.

It’s time to move away from the mono­liths of Web2, and at long last, all the mem­bers and ben­e­fi­cia­ries of the cre­ator econ­o­my have the tools and pro­to­cols with which to do so.

About the Author

Alex­ey Kulik is the Chief Archi­tect and Co-Founder of DEIP. He is the dis­trib­uted sys­tems archi­tect and entre­pre­neur. Holds a degree in Com­put­er Sci­ence, and has designed dis­trib­uted sys­tems in med­i­cine, logis­tics, finance and intel­lec­tu­al prop­er­ty man­age­ment for 10 years. A fre­quent pub­lic speak­er and a lec­tur­er at the Belaru­sian Nation­al Tech­ni­cal Uni­ver­si­ty and the Web3 Academy. 

Got some­thing to say about cre­ators, web3 or any­thing else? Write to us or join the dis­cus­sion in our Telegram chan­nel. You can also catch us on Tik Tok, Face­book, or Twit­ter.

Disclaimer

All the infor­ma­tion con­tained on our web­site is pub­lished in good faith and for gen­er­al infor­ma­tion pur­pos­es only. Any action the read­er takes upon the infor­ma­tion found on our web­site is strict­ly at their own risk.



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