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• In a Harvard Business Review article, Li Jin argues for the establishment of a middle class for the creator economy to combat the inequality and offer more opportunities to other creators. ‘Societies and platforms flourish when there is a path for everyone to have upward mobility, achieve financial security, and learn and grow. The beautiful thing is, in the real world as well as in the digital world, it’s up to us to build this path’ – Li Jin How Web 3 and NFTs helps creators • Current platforms’ monetisation models do not align with the best interests of creators • Bitcoin and Ethereum have exposed the power and success of user-owned and operated networks • Web 3 is the opportunity to follow this pattern to build platforms that bootstrap adoption and participation through better economic alignment o E.g. a tokenized social network where creators and users are the owners of the platforms instead of investors or employees o This would enable creators to connect directly with their audience and be rewarded with tokens. o With broad-enough adoption, tokenized networks could become self- sufficient platforms by which creators distribute their content without the need for centralised intermediaries and predatory advertising partners. • • NFTs invert the ownership model of media - creators retain ownership of their content, without limiting the propagation of the media across the internet DeFi protocols are often referred to as ‘money legos’ as they allow programmers to compose and build on other applications. Similarly, NFTs are ‘media legos’ for creators to permissionlessly build new experiences in the direct-to-consumer world. • NFTs create new revenue streams and Web 3 creates platforms designed for creators - capturing massive economic opportunities and disrupting incumbents. • By bypassing gatekeepers and middlemen, NFTs are a path for the middle- class creators to achieve the monetisation strategy of 100 True Fans (100 fans who are willing to pay $1,000 a year) 27PDF Image | Primer on Non-fungible Tokens NFTs
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NFT (Non Fungible Token): Buy our tech, design, development or system NFT and become part of our tech NFT network... More Info
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