Creator Economy with Socialise to Earn
As a creator, do you feel you are paid fairly for your work online?
If you answered no, you are not alone. This is because the current ad and pay per view/play models used by the social media giants (Youtube, Spotify, etc.) don’t work for 95% of creators. In fact, 48million creators either don’t make any money at all because they do not meet the monetisation requirements of a social media sites (such as 1000 followers on YouTube), or they do not make enough money to turn their social media presence into a full-time job. The reality is, only big influencers can make a solid and regular income from social media at the moment.
But why is this? It is the creators that make these social media platforms the multi-billion dollar companies that they are. The truth is, these companies prioritise profits over their users.
Thankfully, things are about to get fairer thanks to the introduction of blockchain technology into the internet. The current internet we use today is known as Web 2.0. It was the technology behind Web 2.0 that made websites such as Facebook and YouTube come to life in the 00s . These would simply have not been possible on the original internet of the late 90s, known as Web 1.0 (Checkout Space Jam website from 1996 for a trip down memory lane and example of a Web 1.0 site). The introduction of blockchain technology into the internet is the latest revolution in the internet and is known as Web3 (or Web 3.0).
But how will this change the way creators use social media, and how will it make things fairer?
What will the Web3 Creator Economy look like?
All of the big Web 2.0 social media platforms (the likes of Facebook, Youtube, Twitter, TikTok, etc.) use essentially the same inherently exploitative model: They use your content & personal data to sell advertisements to your audience and generate revenue for themselves. Sure, some platforms may give you a percentage of this money, but they always have the upper hand.
Web3 is different, it places this control back into the hands of creators and users. Web3 social media is run by the community, not billion-dollar corporations. Meaning creators get paid directly from their fans, without relying on ads or algorithms to generate income. It also provides the opportunity for niche creators with smaller followings to make a living from their work. In addition, you don’t need to worry about your content being demonetised or your channel being removed as community dictates what is acceptable content and what needs to be censored. It gives you the creative freedom to make the content you and your fans want.
Social media on Web3 give users real money or tokens for positive actions such as sharing content. Creating highly incentivised fans that are more likely to share your content and talk about you. Read more about that from our S2E blog post.
What does PopSpot do for Creators?
Web3 is going to be a powerhouse for Creator Economy. Popspot provides you with a variety of different monetisation tools to help you earn more:
- Subscriptions — you can provide exclusive content for true fans for a monthly fee. This will give you a steady and reliable income — something that has been missing form any artists during the pandemic.
- Merch Store — you don’t need to have a tech team or even a website. It’s connected directly with your profile making it much easier for your fans to see and buy your merch. It also provides the opportunity to create fan-only merch or limited edition/exclusive merch.
- Ticket Store — as with the merch store, you will be able to sell tickets to all your events, along with VIP or NFT tickets for biggest fans.
- NFTs –you will be able to sell two types of NFTs:
- a. Avatar NFTs — which are basically digital merch that people can wear on their avatars to show they are part of a fan community.They can also get paid more for wearing them.
- b. Profile NFTs — You can sell pieces of your profile to your fans as NFTs giving them a chance to invest in you and your career. Selling these could be used like crowdfunding to release your next album or creative project. Ultimately, getting fans more involved. As you grow in popularity so will the value of yourNFTs, making them an investment. Meanwhile, NFT holders earn percentage of your earnings on PopSpot as passive income.
- Brand Collaborations — with more income from different streams you have the freedom to choose the brands you work with.Taking away the sell-out feeling that influencers are sometimes accused of.
- Tips & donations — Live streaming & one-time tips are important income to many creators and it’s going to work on PopSpot too.
Amongst all of these tools, PopSpot keeps the platform fee fair. While twitch takes 50% of the revenue creators’ earn, and YouTube 45% (if you meet monetisation requirements). The commission on Popspot is just 5%. This means that 95% of what your fans pay goes directly to you.
We don’t have any monetisation restrictions like required follower numbers, views, etc. Even niche creators with a small following or who are just starting out can still get paid (and paid fairly) for their work. For example, you can earn €10,000 a month from just 1000 subscribers if they each pay €10/per month.
Conclusion
PopSpot is on a mission to innovate in all fronts of Social Media. Users have the control & dictate the community guidelines. Users get paid to socialise making them highly motivated fans. Creators have access to variety of monetisation tools that are connected to one profile. Creators can get paid directly from their fans with fair commission rates and have the creative freedom to do what they truly want. Sometimes it sounds too good to be true.
PopSpot
PopSpot is a next-gen social media site where users get paid to post, comment, and share. It uses the Socialise to Earn protocol which is a model for defining and rewarding positive actions on social media. The platform is ad-free and enables fans to access content they can’t see anywhere else.
Join PopSpot’s discord to have a say in how the platform is built, participating in community discussions, and gain access to token private sales and future NFT drops.
