Web3 and Media

NFTs are new keys to internet: NFTs (non-fungible tokens) are a special kind of crypto asset where each token is unique. They authenticate ownership of any kind of digital asset. NFTs represent more than unique digital objects, they are objects described by code. As such they become programmable keys to media and gaming communities.

Joe Krause said: "The 20th Century was about dozens of markets of millions of consumers. The 21st Century is about millions of markets of dozens of consumers."

Web3 improves connection between consumer and creator.

In short, Web3 forces continued erosion of the power of gatekeepers.

-Community: New ways for community to connect directly, participate in governance and ownership.

Content discovery is, of course, the most valuable asset in any media distribution ecosystem and perhaps most overlooked in discussions of Web3's disruptive potential in media. Facebook, Google and TikTok remain the entry point for most consumers with intense network effects, and the changes above notwithstanding, innovation in blockchain doesn't u... See more

For many media brands, the creator economy presents a conundrum — what is the role of brand when audiences increasingly value the intimacy of a direct connection to a human creator?

Removing the friction from micro-payments: Cryptocurrencies drive down the cost and complexity of transferring value. As digital wallets proliferate, micro-payment systems will become commonplace across open publishing environments. We are already seeing more of this behavior with the popularity of platform-specific tipping solutions. Web3 will mak... See more

Defining web 3, @andy_matuschak says: "This is a sort of counter-intuitive definition given the emphasis on decentralization, but it helps me understand one facet: imagine that all web sites and databases and accounts and services are running on one shared server, and anyone can program it."

To make $1000 per month, a creator needs about 100K Instagram followers, 2M views monthly on YouTube or 25M on TikTok (New Creator Manifesto, 2021). Contrast this with platforms that provide a more competitive mechanism for creator monetization. Just over 200 subscribers on Substack, OnlyFans, Twitch or Patreon at $5 per month will yield the same $... See more