Content economy: challange and potential
Bringing insight and innovation
Influencer Marketing Hub estimates the content contributing to the the Creator Economy to be worth $104.2 billion (2021). Most content creators are dependent on influencer marketing and brand partnerships for revenue. Inert revenue streams come mostly from programmatic advertising, enabled by platforms such as, Instagram Spotify, YouTube and surf-to-earn Browsers, like Brave. The creator-driven merchandising platform by Spring and others are showing signs of joy while Linktree managed to cultivate its own as a social identity aggregator for creators.
Even though the creative economy shows significant growth and potential, the problem is that it relies on the existing rules of the global economy which dictate the flow of content: the creators commodity. This can hold the industry from rapid 360-development. Enabling technologies, such as blockchain, enable novel economic models to appear.
It is now possible to create an economy that will put creators’ content in the centre of a transactional-system and provide a way to easily, safely and instantly capture and transfer the value they create. This content-led economy, redefines how millions of creators globally create, collaborate-on and monetise new projects, products, technologies, art and other types of non-physical content.
Web3 has the potential to bring comprehensive innovation to every industry. However, the adoption of web3 is still mostly limited to crypto-related use-cases. The reason most people give for this is that infrastructure is not mature enough. But it doesn’t seem to be true. We think it’s due to one reason: not enough people are working on the adoption of Web3 beyond crypto use-cases. We believe that can be changed, starting by looking back and understanding what drove the adoption of web2.
One of the very noticeable drivers for web2 adoption was WordPress: a modular constructor to build web applications. WordPress is extremely powerful even though it doesn’t cover all the possible use-cases of Web2. Imagine if we had something comparable to WordPress for Web3.
The world is transitioning to an intellectual capital-centric creative economy and in the near future, most resources will become commodities excluding intellectual and human capital. The ability to capture value from content becomes critical for any future-proof technology.
Tokenization and decentralization governance of non-physical content can be one of the biggest breakthroughs of this century.
The future adoption of the web3 technology stack depends on four major components:
The Lynqyo strategy is to focus on the last 3 components and partner with leading companies that focus on the first component, there are already multiple solutions that are mature and flexible enough to be considered as layer-1 infrastructure. After thoughtful consideration and multiple implementations, testnets and pilots, we deuced to launch of our Protocol to be based on the Polygon Network continuing to expand into PolkaDot, Ethereum and other networks using a substrate-based chain.
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