Content creators are finding ways to turn their skills into cash. With the advent of the creator economy, it’s easier than ever for people with a niche skill to monetize their work by selling it online or producing content for a platform that works with paid subscriptions and NFT sales.
Blockchain technology has had a huge impact on the world and the way we do business. One of the many features of blockchain is that it has practically eliminated middlemen and centralized authority. This, combined with digital assets and AI-powered software, has created a new kind of economy—one where individuals can monetize their own creativity or skillset. In this article, we’ll be looking at some of these benefits that creators have the opportunity to explore and how investors can get in on the creator economy.
What is a “creator”?
First things first, what is a creator? Creators, sometimes called content creators, make and monetize digital videos, art, music, and much more by going directly to their audiences. Thanks to YouTube, which first coined the term, creators have been around since 2011. Since then, the creator economy has spread to virtually every digital platform.
Many people confuse creators with influencers, but these two digital media personalities are not the same. While creators may choose to monetize their brand through advertising endorsements like influencers do, their primary focus is on creating and selling (or otherwise monetizing) their original content.
How much do content creators make?
While most creators do not make enough to live off, some have found astounding success by dealing directly with their audience. With the exponential rise of blockchain and NFT monetization, creators can offer their fans something that has never been possible before—ownership of unique digital content. As we have noted before, some creators in the art world are selling a single piece of digital art for $10,000-30,000. Other well-known names are selling NFTs for millions of dollars.
Why is the creator economy so big right now?
Short answer: it’s accessible, creators know how to reach their audiences, and people are ready to invest.
Over the past decade, the demand for content has risen drastically. Many creators have discovered that they can make a lot more money by striking out on their own and leaving behind centralized content platforms. Right now, buying NFTs is speculative—consumers who purchase them are betting that their investment will pay off in the future. Creators who can meet the demands of the speculative market, create original content, and monetize their work by creating and selling limited NFT versions to buyers can tap into this growing economy.
The creator economy is changing the way we consume and own content in the modern world. In order to compete in this changing landscape, traditional creatives must take advantage of this shift and adapt their skillsets to fit into a creator-driven economy.
This shift is just starting to enter mainstream consumer culture, so the time is now to get in on it. In the coming years, we will see even more innovations within this space, so be sure to keep up if you want to make a smart investment.