Tips for creators getting into crypto

NFTs provide a new monetization channel for creators that complements existing channels. Instead of monetizing access or attention, NFTs monetize ownership.

-Limited supply NFT drops w/ collector rewards

Crypto can help creators in four main areas:

-Monetization: "Help me make money."

I believe cryptonetworks will usher in a new era of co-creation. Creators will involve their communities in key decisions like how to allocate funds, who to onboard, what types of projects they should work on, etc.

Web 1.0 was about information links (web pages). Web 2.0 was about social links (likes, follows, shares). Web 3.0 is about economic links (tokens you earn, investments you make, assets you own).

-1 of 1 NFTs: For this model to work, you need just one true fan. But that leads to the main downside of this model. There’s only one owner. As a result, it's hard to create a community around these NFTs because only one person owns it. This model also prices out consumers who aren't willing to yolo their entire life savings on an NFT.

A few ways creators can monetize with NFTs today:

Fractionalized NFTs: This model enables many people to own a piece of your NFT.

With crowdfunds on Ethereum, instead of just receiving a warm fuzzy feeling or a bumper sticker, contributors can receive an ERC20 token. This token can then be programmed to include all sorts of benefits.