From Views to Value: the Future of Blockchain Innovation in Social Media | Opinion
Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.newsâ editorial.
The age of direct-to-consumer is here in all aspects of the game. The $250 billion creator economy isnât immune to this change either.
For long, traditional social media platforms have acted as gatekeepers of revenue flows, limiting ways in which creators, their followers, and unassuming advertisers engage with each other.
After seeing multiple web2-based iterations fail to balance these three pillars, it would seem the future is rightfully leaning toward web3 to democratize social media.
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Empowering creators, users, and advertisers
According to a report from Mordor Intelligence, the impact of blockchain in the media, advertising, and entertainment market is expected to soar to $27.29 billion by 2029, at a CAGR of 78.49%. This transformation, which we are witnessing live, has been made possible with the emergence of defi integrations, which cut out the middleman and lay the groundwork for a new era of creativity, engagement, and trust.Â
From offering solutions to dated problems like digital piracy, skewed royalty distributions, and monopoly of user data, blockchain tech is now finding rampant use in redefining human interactions. It starts with empowering creators, without whom such platforms become just another community chat center.
By thinking beyond brand engagements, SocialFi platforms are helping create a model where loyal, paying communities sustain creative livelihoods. While existing solutions focus on only the creator, the other two legs of the system â users and advertisers â can no longer be ignored.Â
