We expect to see strategic changes to the Content Creation ecosystem all brought about by the fast-rising Metaverse. There’s a popular saying in businesses and projects that “Content is King”. And that it is the bedrock of any successful business both online and offline.
Therefore, the Metaverse ecosystem is set to revolutionize the content creation ecosystem. by creating a new atmosphere for emerging businesses. Also, providing businesses and content creators with new ways to showcase their projects, products, and services.
Content in the Web 2.0 Era.
Content is the bedrock of Web 2.0 which can also be accurately described as the Internet. The internet as we know it is a complex mix of text, audio, and video. Making information accessible and available to all. Despite these, it will be foolhardy to refer to content as free.
Moreover, the Web 2.0 ecosystem brought to life important positions like influencers, opinion leaders, etc. Each with the power to facilitate important features like advertising, marketing, etc.
Also, Web 2.0 is far from being independent. The major struggle for Web 2.0 is the fight for independence or decentralization, A feature that is the founding principle for Web 3.0 and the Metaverse. We’ve seen a lot of clamor for decentralization and independence in the content creation ecosystem.
As a result, it provides a reliable ecosystem for individuals to create content and earn rewards without having to go through third-party platforms. This fast-growing ecosystem comprising of bloggers, vlog creators, indie artists, etc is known as the Creator economy.
Content Creator Economy – What You Should Know
According to reports, the creator economy is currently valued at $104 billion (2021). It is also important to note that the creator economy skyrocketed during the COVID-19 pandemic. With platforms like TikTok, YouTube, Instagram, Likee, etc.
Source – Influencer Marketing Hub
Interestingly, analysts and experts are still reluctant to make price predictions of this ecosystem. They, however, all agree that the creator economy is quite nascent but growing exponentially. The introduction of Web 3.0 features will also facilitate the growth of the creator economy. As it will provide content creators with exciting new opportunities for product marketing and promotions.
Also, it will provide a reliable way for content creators to decentralize their talents. Currently, there is an estimated 50 million content creators globally with an estimated $800 million in venture capital funds. With Web 3.0, these estimations are only just scratching the surface.
Content for the Web 3.0 Era
The metaverse is a fully digitalized world built on both decentralized technology, virtual reality (VR), and Web 3.0. Therefore, the combination of these features will usher in a new age of content creation. This will provide creators with access to unlimited graphical details.
How incredible is that for content creators? In the picture below, you can see the growth that the metaverse size will have in the future years.
Source – PwC
Blockchain technology first introduced the possibility of incentivizing content creators independent of centralized platforms. Also, creators will be able to seamlessly monetize their content. Having the opportunity to choose from the myriad of internal cryptos and monetization avenues available. Moreover, the metaverse will take content creation to a whole new level. Furthermore, ensuring that content creators do not need to go through third-party hosting platforms to earn rewards.
In conclusion, the metaverse is quite similar to the internet as we know it today. However, as opposed to the internet, viewers will not be the only way creators will receive rewards. The metaverse will offer new, organic, versatile ways to earn incentives from content.
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