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The Web3 Renaissance: A Golden Age for Content
Web3 has the potential to unlock incredible opportunities for everyone who contributes and creates on the internet: a true Golden Age of content that we’ve all been looking forward to.
Katie Parrott • The Web3 Renaissance: A Golden Age for Content
A new generation of technologies is emerging with the promise to change the balance of power in the creator economy. If the pre-internet/web1 era favored publishers, and the web2 era favored the platforms, the next generation of innovations—collectively known as web3 —is all about tilting the scales of power and ownership back
... See moreKatie Parrott • The Web3 Renaissance: A Golden Age for Content
The promise of DAOs is alignment of incentives through stakeholder primacy and a removal of the need to extract value. The result: a democratized, disintermediated content landscape where creators have control over their work, how it’s distributed—and how it’s valued.
Katie Parrott • The Web3 Renaissance: A Golden Age for Content
For fans, the possibility of profit amplifies their incentive to support a creator. Interestingly, it also introduces an entirely new segment into the creator’s orbit that had never existed before in web2: speculators. Importantly, all of these users—by virtue of becoming owners of an asset that is aligned with the creator’s success—have an... See more
Katie Parrott • The Web3 Renaissance: A Golden Age for Content
Jesse Walden defines “patronage+” as patronage with the possibility of profit, a phenomenon that is introduced through tokenized ownership. That investment element was an impossibility in web2 without an on-chain record of ownership like an NFT or a social token (imagine trying to resell a TikTok video that was downloaded from the app).
Katie Parrott • The Web3 Renaissance: A Golden Age for Content
On streaming platforms, each stream of a song contributes the same amount of revenue (approximately $0.004 per stream on Spotify), regardless of that fan’s particular intensity of affinity towards the artist. In contrast, on platforms like Catalog or Sound, superfans are purchasing NFT music for thousands of dollars each, with creators earning what... See more
Katie Parrott • The Web3 Renaissance: A Golden Age for Content
-Most importantly, by creating pathways for creators to own not just the content they produce, but the platforms themselves
Katie Parrott • The Web3 Renaissance: A Golden Age for Content
-By introducing new programmable economic models that spread wealth -across the creator landscape
Katie Parrott • The Web3 Renaissance: A Golden Age for Content
-By making supporting creators an act of investment, not just altruism