Overview
The Creator Economy in Web3 refers to the shift from platform-centric models (where YouTube or Instagram control the revenue) to creator-centric models. Blockchain technology enables creators to establish direct financial relationships with their fans through NFTs, social tokens, and decentralized platforms.
Key Concepts
- Direct Monetization: Selling content or access directly to fans without a middleman taking a large cut.
- Programmable Royalties: NFTs can be coded to pay the original creator a percentage of every secondary sale automatically.
- Community Ownership: Fans can become stakeholders in a creator's success by holding their tokens or NFTs.
Tools
Web3 tools for the creator economy include NFT minting platforms, social token protocols, and decentralized streaming services.