Cycle of the Creator Economy

Written by
Miles Rote

Cycle of the Creator Economy

Written by
Miles Rote

Cycle of the Creator Economy

Written by
Miles Rote

We live in a time when more change is happening faster than any other time in history.

By far.

It wasn't that long ago there was no internet.

Now we're finding ourselves within the metaverse.

In the last 25 years, the internet has changed dramatically.

It started with the dot com boom known as web1.

A dozen years later, it changed again with the smartphone and app revolution known as web2.

Today in 2021, we're in the beginning stages of web3.

Creator Economy

It was less than 100 years ago that we lived in the age of manufacturing.

By the 1950s, we transformed into the age of consumerism and traditional media began to take off.

The internet ushered in the information revolution and knowledge economy. While the power of the internet overtook many jobs, others were created on the internet.

This is when the Creator Economy was born. People began to earn money through their passions or hobbies online. No longer were people required to work in a factory or an office.

Instead, they could specialize in their passion. Of course today, the best content creators and influencers have become as well known as famous actors and musicians.

Yet, the creator economy has become a "dog eat dog" marketplace where 95% of the participants aren't earning much money.

The Creator Economy broke.

Creator-Owner Economy

There's a famous tweet in the web3 space from @kissingsky:

In web1, companies created content and earned money online. And there was virtually no ownership for most internet users.

In web2, people began to create content but still the lion's share of profits went to centralized platforms. And the only thing people owned was their domain name -- everything else owned by the platform.

With web3, people will continue to create the content and people will earn the lion's share. And finally, they'll be the owners of their information and content -- not companies.

Web3 puts the power back into the hands of the people through decentralization and fractional ownership. We've been victims to centralized platforms selling our information to ad companies only to be retargeted with custom ads manipulating us to take a behavior they want. Now we'll own our information.

And finally creators can have a direct relationships with their fans, and fans can earn income with creators simply by sharing what they're passionate about.

In web3, having good taste can become an income stream instead of an expense.

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