“A creator is an individual who scales without permission.” — Hugo Amsellem
We creators have been used and abused for far too long.
We are bled dry by social media platforms and other intermediaries. We are forced to play by their rules. These rules enrich the gatekeepers of centralized systems while leaving only scraps for us.
Those days are coming to an end.
Web3, blockchain and related technologies are revolutionizing what is possible for creators. The gatekeepers are being overthrown. Control of what we create, the communities we build and the people we associate with will finally be ours.
How is this possible? Consider just two of the powerful primitives in this new digital economy.
Non-Fungible Token (NFT):
An NFT is a token that holds digital content and the IP rights to use it.
It is unique.
It cannot be manipulated in any way.
It has one creator and one owner who are easy to verify publicly.
It can be traded anywhere via decentralized networks like Ethereum.
The creator sets the terms of the NFT and how royalties are distributed.
This essay can be packaged as an NFT and traded as the original to whomever finds value in it. And over time, it can appreciate in value like any asset.
Decentralized Autonomous Organization (DAO):
A DAO is a self governing organization defined by a contract (called a smart contract).
It defines the rules of the organization.
The rules are public and enforced by the blockchain.
The rules can only be changed by a vote, the rules of which are defined in the contract.
All transactions are public and automatic.
A DAO can issue, store and distribute tokens (cryptocurrency and NFTs). These tokens can be used to reward founding members and others who contribute value to the community.
In the web3 creator economy...
NFTs are unique, tradable assets
DAOs are monetized communities of like-minded people
And this is only scratching the surface of what is possible. Educate yourself on the fundamentals of this coming revolution. Reap the full rewards of your creations and the contributions you make to communities.
🤔 Food for Thought:
Are you tired of playing by someone else’s rules with your own creations?
Are you interested in monetizing the value you add to your favorite communities?
What is your first NFT? Or what would be your first NFT?
⚙️ One Small Step:
Think about how easy it is for a social media company to destroy your reach with a simple change in its algorithm. Think about how easy it is to suspend or ban your account. Think about how much the same company makes from the collective content of others.
More and more ways emerging to extract value straight from the source. Writing into NFTs fascinates me. Curious to hear more from you on this subject. Thanks Coach.