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Creators confront a steep uphill climb
200 million of the 4,2 billion social media users worldwide consider themselves to be creators. However, the vast majority (139 million) have fewer than 10,000 followers. 75% of the population earns less than $1,000 per year through their employment.
Web3 is able to alter all of this. Creators can gain money directly from their work, rather than through businesses. Both collaborators and followers can be rewarded by Web3 in ways that enrich the community and foster connections.
The Web3 area offers extraordinary ownership and control potential.
Social Tokens.
Consider, for instance, a social token. These can be purchased, sold, or even given away as a tangible indication of your reach and value.
The origins of this concept may be traced back to the Web1 era, when David Bowie issued Bowie Bonds. All of his album sales were securitized and 7.9 percent interest was paid until 2007.
The artist called Portugal today. The Man has issued PTM, a token that grants fans early access to event tickets and the band's back catalogue.
Similarly, purchasers of musician Lil Yachty's coins receive unique gift boxes chosen by his mother!
Now, singers, celebrities, bloggers, and YouTubers are capitalizing on their expanding networks by providing them with exclusive access to the desired content and a direct link to the individuals behind it.
How can a social token be generated?
Consider your follower community. If you have a close relationship with them and they already donate or subscribe financially, begin evaluating their interest in transitioning to a token model.
Create a profile on a platform for social tokens, such as Roll or Rally.io, then submit an application to create a token.
Name your social token, which will serve as your ticker symbol.
Develop a launch strategy. Consider the posts you and your coworkers could make to generate interest.
Launch your token, and never cease marketing it! Continue to spread the word, and perhaps consider listing on other exchanges.
Tokens for utility and cross-platform products
NFTs are more than just digital artwork containers. A non-fungible token is unique and cannot be swapped for another token of the same type. They are ideally suitable for practical, everyday uses due to their nature.
Consider utility coins, which provide a decentralized alternative to conventionally centralized services such as event ticketing and organization membership. They are able to replace actual goods with virtual ones, leaving security to the blockchain.
Additionally, NFTs can be utilized to transport things across platforms. Consider the concept of digital fashion. With digital integration, designers can produce actual clothing in the "real world." It can be a metaverse avatar's wearable virtual attire or an NFT certificate of authenticity.
Attaching outside intellectual property, from artwork to designs, is actually a straightforward process.
Ensure that you have a cryptocurrency wallet with sufficient funds (such as NEAR or Ethereum) to cover the creation and transaction costs.
The intellectual property (artwork, designs, or anything else) should be uploaded to an NFT platform, such as Mintbase or OpenSea.
The platform then generates a digital signature of the IP, known as a hash, and a metadata file containing the hash and a link to the NFT.
The platform mints the NFT, which involves writing the address of the file's information into the blockchain.
Then, you can put your NFT on a marketplace or even construct your own storefront on a more flexible platform (using tools such as Mintbase), giving you control over your products.
Web3-transitioning creators
DEIP has developed its Global Ambassador Program in order to further this development. It was created to inspire individual artists to return to their communities and spread the word about the vast array of Web3 tools available and to generate interest in them. It seeks for artists and influencers who are already well-established in their respective sectors. These artists are aware of the obstacles and opportunities that lie ahead. And a network of similar geniuses working in tandem with them.
Several mechanisms, including social tokens, non-fungible tokens, and smart contracts, have been disclosed that facilitate the transition to Web3. Each provides creators with copyright, verifies the originality of their work, and affords them the opportunity to monetise their creations.
Web3 is a step in the direction of a brighter, more empowering, and less restrictive future for those who labor to generate value in the world.
It is time to shift away from Web2's monoliths, and all members and beneficiaries of the creator economy now have the necessary tools and standards to do it.
