The creator economy is a way of describing the digital or virtual content economy. There are now millions of different content creators on the Internet, and they are all making their own unique content. Content is no longer just available on television and radio. In fact, these days most content is made on, and consumed on the internet.
In the early days of the Internet, there were no real tools for content creators to utilize if they wanted to monetize their content. There were no subscription services like Patreon to collect monthly payments, E-commerce stores to sell merch were very limited in scope, and there wasn’t even much ad-revenue available to internet based content creators.
Today the creator economy has numerous methods for creating, distributing, using, and monetizing content. NFTs will revolutionize the creator economy, because not only will it create a new avenue for content creators to monetize their content, but it will also enable the creation of secondary markets for internet based content.
Benefit of NFTs in Creator Economy
NFTs, or Non-fungible Tokens, have recently gained much attention from both investors and creators. NFTs are non fungible tokens on a blockchain that are inextricably linked to some form of digital art. To buy this artwork, one has to buy the NFT and create NFT art from some on chain NFT Marketplace. The ability of these tokens to literally turn any work of digital art into an actual digital asset that has seamless access to liquidity markets is revolutionary.
The benefits of NFTs are included in their code which ensures transparency and seamless transferability of ownership. Mainstream acceptance of such an asset could be a game-changer for individual creators and the entire creator’s economy.
NFT Market Growth
The NFT market grew significantly in 2021, reaching $2.4 billion in the second quarter. The number of active wallets also increased by about 151.89% during the same period, indicating more sales potential for potential buyers and thus for the NFT creator economy.
The rise of blockchain technology and cryptocurrency has highlighted the NFT market. The NFT market has received A lot of media attention and now even celebs are getting in on the NFT bandwagon. The world is seeing the beginning of a robust new market in the creator economy.
Auction houses like Christie’s have chosen to launch their NFT markets while luxury fashion brands follow suit. As more NFT platforms enter the market, creators are looking for opportunities that never existed before. One of the biggest opportunities for content creators is AssetMantle as it will allow them to easily make their own NFT collections, and also their own NFT storefronts to sell those NFT collections.
The Rise of NFTs in the Creative Economy
The term Creator economy is entirely new, and it is a product of the internet, which has completely changed how the world works. The creator economy refers to a new financial system mainly consisting of independent creators (artists and influencers) who no longer rely on traditional methods such as large corporations, media houses, and agencies because they can reach the consumer directly. Advancements on the internet have even made it possible for content creators to easily monetize their content.
Now, the creator economy has a new arsenal of tools available to it: NFTs. NFTs will provide content creators with a new avenue to monetize their content, and at the same time NFTs are also a great personal branding tools for content creators. By distributing NFTs to their loyal supporters, content creators can create a community, which gives initial community members some skin in the game.
NFT platforms play a crucial role in bridging the gap between blockchain technology and the broader creator economy. NFTs also help democratize art ownership by enabling fans to legally ‘own’ the art sold by their favorite content creators
A New World for Creators
With the growing interest in Metaverse, cryptocurrency, and digital aggregation NFTs have become more important than ever before. NFTs offer an excellent place for new age creators to benefit not only themselves but also their fans. The content creator economy is still fairly new, and as the next generation of the internet, Web 3.0, rolls out this economy will have the opportunity to become one of the biggest in the world. NFTs are one of the most important catalysts in the expansion of the creative economy.