Who will own the creator economy? A web2 vs. web3 showdown

After a decade of inaction, web2 platforms have finally woken up to the need to help their creators make money. This was instigated by TikTok’s $2B Creator Fund, but has resulted in dozens of similar funds and new features across Snap, Instagram, YouTube, Pinterest, and even LinkedIn.
Meanwhile, web3 platforms are pioneering a new form of monetizat... See more

If Web3 platforms want to fully replace existing social apps, they’ll need to power discovery - helping users find content (and therefore creators). But this implies the existence of a centralized authority that designs the mechanism by which discovery occurs. Does this conflict with the decentralized culture of Web3?

You might not “own” your Twitter followers (you can’t take them if you leave), but you get to leverage the platform for distribution. You could theoretically launch your own version of Twitter if you want more ownership - but it’s practically useless if there’s no one there to read your tweets.

For creators with an existing audience, launching a DAO or selling NFTs might be fairly straightforward. But what if you don’t yet have an audience? The major benefit of centralized social apps is that they aggregate consumer attention.