Entreprise

Metaverse changes the paradigm of content creation

Content constitutes the essence of the Internet and is delivered in a variety of formats (text, audio, video, or a combination of all three) supported by current Web 2 Internet iterations. However, content is hardly a free resource. Opinion leaders, influencers, and the foundation of so many important services that businesses depend on, such as advertising, marketing, and public relations management.

The need for content embodied by thousands of bloggers and indie performers and their efforts to independence exchange talent and rake up sales volumes that many top-level artists will spit on to earn. Created a huge online economy. This economy has been dubbed Creator Economy: A financial framework that allows independent individuals to earn on their own by providing viewers with the types of content they are willing to pay for consumption.

Rising power

The creator economy is a tremendous force. A unique online phenomenon that crossed the $ 104 billion market size threshold at the end of 2021. Given the snowball demand for new content on popular platforms such as TikTok, which empowers independent artists and performers, experts hesitate to predict the potential market size of the creator economy in the near future. doing.

The reason there is no clear prediction is that the creator economy is a very young phenomenon that started with the COVID-19 pandemic. The blockade created a wave of talent among those trapped indoors, freeing the creativity of others sharing the trap. I want to consume as much of the long-awaited entertainment as possible.

Related: The best hasn’t come yet: what’s next for blockchain and creator economy

Creators of micro-entrepreneurs can understand the prospect that this phenomenon could be further expanded given that it is closely related to influencer marketing, which has a market size of about $ 13.8 billion. .. More importantly, experts believe in the transition to new technological media. Content creators can overwhelm the market and industry with new opportunities to promote products and services.

Decentralization of human resources

Over 50 million creators are driving an economy of unique talent, raising over $ 800 million in venture capital. These numbers are only a shadow of later possibilities as new venues are rapidly becoming available.

The development of blockchain technology is revolutionizing the financial markets as a whole, empowering individuals rather than financial institutions and directing ownership of data and funds to holders. The quality of the blockchain (immutability, complete transparency, unreliable nature of operation) is pervasive. In many industries, the business-oriented balance from centralized corporate addiction to decentralization is plummeting. This shift in the basic concept of managing relationships between participants and transactions, facilitated by smart contracts, has not been overlooked in the creator economy.

Influencers and content creators decide to shift the paradigm of the operational environment as the decentralized financial and gamefi sectors are marshalling in their respective industries, separating users from traditional approaches to banking and gaming. It was only a matter of time. The content creation model has been permanently changed by incorporating blockchain technology that allows users to incentivize content creators, but creators share revenue with a centralized, often unfair hosting platform. You can actually monetize your talent without having to.

Related: DAO is the foundation of the future of Web3, the creator economy, and work.

Go to the metaverse

The development of Metaverse, a completely digital environment that leverages Web3 blockchain and virtual reality, heralds a new era of content creation. In the real and digital world.

With the Metaverse, authors can visualize everything from spaceless opera concerts against the backdrop of nebulae to uninhabited island blog streams in amazingly graphical detail. The Metaverse can be implemented with anything that understands creativity for the benefit of all involved parties. .. By relying on the endless opportunities of the Metaverse in incorporating virtual reality, content creators can unleash their creativity and roam it in the wild. Such a promise of invisible quality of content can only be explained as a honeysuckle for an enthusiastic audience, with a variety of types of content consumed, and more importantly, a new experience. The number of viewers.

Metaverse’s blockchain base brings even more benefits to content creators as it can employ different mechanisms to monetize content through the diverse nature of internal cryptocurrencies. Users can bet their digital assets on specific creators and encourage them to release more content. Others can pay to access special content, but others can simply give donations to their favorite creators. There are many ways to monetize, content creators can always be confident that their talents will be paid, and hosting platforms can’t strip them on their income.

The business outlook is even better in terms of the penetration of the content creator economy in the Metaverse. Marketing, advertising, and promotion generally win new leases of evolution with content that can be coordinated and seamlessly integrated in an endless variety of ways. The channel of the selected creator. Metaverse provides enterprises with a whole new frontier for deployment and audience reach. Creators are take-off lamps that allow you to introduce products and services to your followers at a price.

With digital hindsight

The Metaverse is the next iteration of the Internet that we know today. A completely user-centered environment that serves the purpose of taking creativity to a new level. However, because companies are so enthusiastic, viewers aren’t the only source of revenue for content creators. Take advantage of this profitable niche and take advantage of the potential offered by native, organic and highly versatile ad integration in virtual reality content.