![]() ![]() In a fragmented media landscape, investing in micro creators is one of the most effective ways to engage with digital tribes with shared values, interests and desires. This is a chance to be part of the culture and add value to different communities. And so, building meaningful connections beyond any flashy advert or big celebrity endorsement. Brands have the chance to build dedicated funds to amplify the voices of up-and-coming creators that align with their mission. Unless brands distribute wealth and opportunities, we won’t realize the full potential of the creator economy. Crucially, brands, advertising agencies and platforms need to find a way to support and remunerate emerging and overlooked creators. What’s more, BIPOC (Black, Indigenous, People of Color) creators are paid less than their white counterparts. But the majority aren’t making enough money to survive without additional income streams. Globally, more than 50 million people now consider themselves to be creators. In many ways, the creator economy is mirroring the structural inequalities built into our existing economic system. Meanwhile, the top twenty YouTubers earned about $300 million in 2021. The top 1% of podcasts receive 99% of downloads. On Twitch, 1% of streamers earn more than half of all revenue. Yet, early data suggest the model only benefits a small number of creators. ![]() Creators suddenly had the power to cut brands and advertising agencies out of the picture and go direct to community. ![]() At the time of writing, the creator economy felt like an escape from centralized corporations. Last year, I wrote about the creator economy and its potential to empower ordinary people. Or active members of DAO’s (decentralized autonomous organizations) with no central leadership and complete transparency. We will either be under the digital reign of big tech companies. As the adoption curve continues to skyrocket, there’s a looming question: who will own the future of the internet? There are two probable options. In the future, we will all be citizens of the metaverse. Will the metaverse be ruled by the old laws? Or will big tech create their own rules? The expansion of the metaverse could tip the balance of power from national governments to corporations. If successful, they will not only control market share but the actual market. Major players like Meta (formerly known as Facebook), Microsoft, Epic Games and Apple are battling to control the virtual world. And users assuming characters outside of their identity in the physical world.ĭespite Web 3.0 being heralded as a new era of decentralization, big tech companies are vying to dominate the space. Brands using avatars not reflective of their internal organization. Such as white creators developing Black virtual influencers. But the ability to create new digital identities raises new questions about representation. Unchained from physical limitations, brands and people have the creative freedom to design whatever narrative or identity they desire. ![]()
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