A New Economy: Become a Web3 Content Creator

Creator economies today are focused around platforms such as YouTube, Instagram, and TikTok. On these platforms, creators have the opportunity to amass thousands of followers with hope to monetize their content and create steady revenue streams. However, this is only accessible to the top 1% of content creators on these platforms, and many are deterred from pursuing onward. With the rise of the NFT community and Metaverse worlds, we are seeing that the creator economy is shifting. In Web3, creators are the economy.

The current NFT market is viewed as a place to sell overpriced images of apes and punks. However, NFTs have a lot of utility in Metaverse worlds. In fact, NFTs are the backbone of Metaverse commerce. Whenever a user is interacting in a world, everything about their avatar is made from NFTs. Examples include apparel, food, drinks, music, and entertainment. The technology to enable NFTs has already been created, but the unlimited ideas of what avatars can wear and do in the Metaverse is left up to the creators. What will soon emerge in the Metaverse is a creator generated marketplace where users can shop for new items for their digital self.

Not only is the design of the metaverse allowing for this new economy to take off, but the amount of startups that are dedicated towards supporting the creator economy are increasing rapidly. We categorize these new platforms into these categories:

• NFT Marketplace
• Community Tokens
• Metaverse
• Payments

We are pretty familiar with the NFT Marketplace as it is already in motion with companies such as OpenSea and Rarible, but startups in Payments and Community Tokens are making it easier and easier. For example, the platform buildspace is a platform that allows creators to engage in projects that teach them and prepare them to mint NFTs and learn other various Web3 tools. Payments are being developed to make the payment process of an NFT smooth and compatible with multiple blockchain platforms. Lastly, the Metaverse is where your NFT will have actual utility. Whether it comes in the form of apparel or an experience, the Metaverse is where avatars will be shopping for new things to add to their collection and where the creators can monetize their product.
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Companies are positioning themselves to prepare for this new economy. The Metaverse and Web3 will be highly reliant and quality creators to supply the demand of users. Those who are interested in possibly becoming a creator are in the perfect position to begin their craft and carve out a space for themselves in the Web3 environment. Here are a few tips on how to get started early:

• Develop a targeted product set (shoes, shirts, autographed photos, highlight clips).
• Create an engaging design
• Find marketplaces to mint your NFT
• Sell and monetize 
• BONUS: Keep an eye out for development in the metaverse and shift your abilities to meet the demand

While we are still at an early stage in the Web3 building process, creators can position themselves to become skilled now before they are left behind. We will see a new economy emerge that will reward more than just the top 1% of creators.