The Metaverse Will Change the Paradigm of Content Creation

Content makes up the very nature of the internet and comes in many different forms. The current Web2 Internet supports text, audio, video or a mixture of these three forms. However, content is not a free resource. Today, content creators are becoming opinion leaders, influencers, and the cornerstone of critical services that many businesses rely on, including advertising, marketing, and public relations management.

The demand for content and the quest for independence -- manifested in thousands of bloggers and independent performers -- has spawned a massive online talent economy that often earns the coveted salaries of many top artists. This economy is known as the creator economy: a financial framework that allows independent individuals to provide viewers with the type of content they are willing to pay to consume, earning income from this self-expression.

a rising force

The creator economy is a massive force: a unique online phenomenon that surpassed the $104 billion market size threshold by the end of 2021. Given the growing demand for new content on popular platforms, such as TikTok, which empowers independent artists and performers, experts are wary of predicting the potential market size for the creator economy in the near term.

The reason there are no specific forecasts is because the creator economy is a very emerging phenomenon that started with the COVID-19 pandemic. Those locked indoors due to stay-at-home policies have unleashed a wave of talent that has unleashed the creativity of many, while others, also locked up, are eager to consume it as much-needed entertainment.

Considering that creators of small entrepreneurs are closely associated with influencer marketing (the market size of influencer marketing is about $13.8 billion), we can understand the prospects that further expansion of this phenomenon may generate. What's more, experts believe that the transition to new technological mediums will disrupt markets and industries by opening up new opportunities for content creators in promoting products and services.

decentralized talent

More than 50 million creators are fueling their own talent economy, attracting more than $800 million in venture capital. These numbers will increase significantly in the future as new tracks open rapidly.

The development of blockchain technology has caused a revolution sweeping financial markets, empowering individuals (rather than institutions) and transferring the ownership of data and funds to their holders. The properties of the blockchain—immutability, complete transparency, and trustlessness—have permeated many industries, shifting business orientation from reliance on centralized corporations to the side of decentralization. This shift in the fundamental concepts that govern the relationship between participants and transactions, driven by smart contracts, has not gone unnoticed in the creator economy.

With the DeFi and GameFi sectors consolidating into their respective industries and shifting large numbers of users from traditional means into banking and gaming, it is only a matter of time before influencers and content creators decide to change the paradigm of their operating environments question. With the introduction of blockchain technology, the content creation model has been permanently changed, because blockchain technology allows users to incentivize content creators, and creators can actually monetize their talents without having to deal with centralized, Often unfair hosting platforms share revenue.

enter the metaverse

The development of the Metaverse—a fully digital environment powered by blockchain and virtual reality on Web3—will herald a new era of content creation. On the threshold of the physical and digital worlds, content creators have never had access to such an advanced toolset to bring out their wildest ideas.

Metaverse allows creators to visualize anything in stunning graphic detail, from an opera concert in space against a nebula backdrop, to a blog stream on a deserted island. Any comprehensible creativity can be implemented in the Metaverse to the benefit of all parties involved. By combining virtual reality with the infinite opportunities of the Metaverse, content creators will be able to unleash their creativity. The promise of never-before-seen high-quality content will be hungry for viewers eager to consume a wider variety of content — and more importantly, new experiences.

Metaverse's blockchain foundation provides additional benefits to content creators as it allows them to use various mechanisms to monetize their content through the multipurpose nature of the internal cryptocurrency. Users can stake their digital assets on specific creators, encouraging them to post more of a specific type of content. Others can pay to access special content or simply reward their favorite creators with donations. The monetization channels are diverse and content creators can always be sure that their talents are paid for, with no hosting platform to deprive them of their income.

From the point of view of the content creator economy penetrating into the metaverse, the business prospect is much more lucrative. Marketing, advertising and promotion gain new opportunities in the development of content that can be customized in a variety of ways and seamlessly integrated into a specific creator's channel. The Metaverse offers businesses a whole new range of deployments and audiences, while creators are the take-off ramp that can get products and services in front of fans—for a fee, of course.

digital hindsight

The Metaverse is the next iteration of the internet as we know it today: a completely user-centric environment designed to take creativity to the next level. However, audiences will not be the only source of income for content creators, as businesses are eager to enter this lucrative niche, take advantage of the possibilities afforded by native, organic and highly generic ad integration in VR content, and seek to compete with Content creators collaborate.

Cointelegraph Chinese is a blockchain news information platform, and the information provided only represents the author's personal opinion, has nothing to do with the position of the Cointelegraph Chinese platform, and does not constitute any investment and financial advice. Readers are requested to establish correct currency concepts and investment concepts, and earnestly raise risk awareness.