According to a 2019 poll, 29% of American kids desire to be YouTube stars when they grow up. As the creator economy has grown, previously hankered occupations such as astronauts and professional athletes have dropped further down the list. The pandemic and Web3 have only intensified the creator trend in the last two years. The creator economy is now projected to be worth over $100 billion, with 50 million people globally identifying as creators. Although still in its inception, the emergence of Web3, a new edition of the internet built on public blockchains, is allowing an astounding amount of innovation in the creator economy.
Web3 Creator Economy Trends to Watch out for
- Content personalization: It is difficult for a creator or instructor to create content for all pupils in various grades. Creators and relevant platforms can work together to create a wide range of material to target clients with personalized content. While the options are endless, you will need to put pen to paper and sketch out the different age groups and courses you want to target. You can list the various lessons you would like to deliver as a teacher after you have developed your personas.
- Creators become the founders: We can expect the creators to become founders of their products and services and gain greater notoriety. They will probably build teams and tools to increase their cash flow and improve their manufacturing while focusing on their passion. The new Web3 creator economy will continue to develop as more people choose to make their passions their careers. People find it more appealing and effective to make money by giving material related to their abilities. Earning money in the Web3 creator economy helps people pursue their true passions while still meeting their financial obligations.
- Putting faith in a powerful platform: Most creators have accounts on many platforms. We see more artists and educators use cross-platform sharing to broaden their reach. These platforms make it easier for the creator economy to post or distribute content across several channels. While social media firms battle to keep artists on their platforms, the creator economy suggests that creators are looking for ways to become less reliant on media goliaths. People are increasingly figuring out how to monetize their content through their websites. In the future, the Web3 creator economy is likely to become its brand with its revenue techniques.
- Monetize: The attraction of new producers by the explosive expansion of social tokens, which will be unhindered by old barriers and monetization models: The year 2022 will be one of exponential growth for social tokens. Thanks to blockchain technology, creators will be able to monetize their work and communicate with fans in ways never previously possible. Fans will be able to simply and securely contact their favorite content creators. As a result, thousands of new producers will emerge, free of old restrictions and monetization techniques, to create high-quality content compensated in cryptocurrencies. Investing in picks and shovel software allows companies to allow this option while also accounting for the variety of problems and restrictions of tax and accounting in the B2B world.
- eCommerce: As creators increasingly own the entire customer experience, they will need next-generation e-commerce infrastructure. “E-commerce facilities will broaden to support every touchpoint for a genuinely smooth shopping experience”, says one expert. Not only the goods, but every aspect of the customer buying experience is increasingly owned and curated by creators. As a result, eCommerce enablement platforms will need to supply the entire tech stack for creators, either by establishing product ad-agencies in-house or by partnering with app marketplaces. Businesses like Rewind and Shogun are forming within app ecosystems to provide plug-and-play solutions for creators and decrease friction.
- Blockchain technology: Although blockchain and Web 3 are trendy topics these days, there are many skeptics and unawares. Installing Metamask and other wallets and educating them on blockchain concepts would be a fantastic start. This is an excellent method to introduce your existing audience to Web3. You might draw those who want to be a part of the current technological revolution.
The Web3 creator economy holds many new opportunities and avenues for the upcoming generations in the near future. One can turn their content into revenue by tapping into these properly. Are you someone looking for ways to turn your content into a monetizable platform? Join Kohbee to unlock and monetize your content. With this all-in-one platform for educators, you may significantly expand your online classes and courses. With Kohbee, you can create, share, administer, and enjoy an automatic payment gateway. Install the app right away!