This article comes fromCointelegraph, by Johnny Lyu

Odaily translator |

Odaily translator |

The need for content and its quest for independence (manifested by thousands of bloggers and independent performers) has spawned a massive online economy and reaped rewards that many top artists can't match. This economy is called the creator economy: allowing independent individuals to express themselves by providing audiences with content they are willing to pay to consume.

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1. Rising power

The creator economy is a massive force: a market size of more than $104 billion by the end of 2021. Given the snowballing demand for new content on platforms like TikTok, empowering independent artists and performers, it is difficult for experts to predict the potential market size of the creator economy in the near term.

Considering that microentrepreneurship is closely associated with influencer marketing, a market size of approximately $13.8 billion, it's understandable the prospect that further expansion of this phenomenon might hold. What's more, experts believe that the transition to new technological mediums will overwhelm markets and industries by giving content creators new opportunities to promote products and services.

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2. Talent dispersion

More than 50 million entrepreneurs are driving the talent economy, attracting more than $800 million in venture capital. With new venues being built at a rapid pace, those numbers are only the beginning.

DeFi and GameFi have acquired a large number of users from traditional banks and games, and it is only a matter of time before content creators change their operating environment. The content creation model has changed. Combined with blockchain technology, users can motivate content creators, and creators can directly monetize content without having to share revenue with centralized institutions.

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3. Entering the Metaverse

The development of the Metaverse — an all-digital environment driven by Web3 and virtual reality — heralds a new era of content creation. Never before have such advanced tools enabled people to realize radical ideas in the real and virtual worlds.

Metaverse enables creators to visualize anything in stunning graphical detail. Anything creatively conceivable can be realized in the Metaverse for the benefit of all parties involved. Relying on the infinite opportunities of the Metaverse to incorporate virtual reality, content creators will be able to unleash their creativity and let it run free.

The prospects for businesses are even more lucrative in terms of the content creator economy penetrating the Metaverse. Marketing, advertising and promotion in general receive new developments as content can be customized in endless ways and integrated seamlessly into a chosen creator's channel. Metaverse provides enterprises with a brand-new audience coverage area, while creators are a ramp to take off, which can display products and services in front of users, and there is a price.

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4. Digital hindsight