A rash of new start-ups has made it easy for digital creators to monetize every aspect of their lives – what they eat, who they hang out with and who they answer at TickTock.
Millions of people around the world consider themselves producers, and the producer economy represents the “fastest growing small business” according to 2020. Report good By venture capital firm Signalfire.
But as the market becomes more and more competitive – and platforms and their algorithms remain unreliable – manufacturers are creating new, highly-specialized revenue streams.
One comes in the form of Newton, a start-up in Los Angeles who describes his product as creating a “human stock market”. On the app, fans vote in a poll to control some of the day-to-day decisions of a creator.
For example, a producer might use NewNew to post a poll asking which sweater they should wear today, or who they should hang around with and where they should go. Fans buy voting power on Nunev’s platform to participate in elections, and with enough voting power, they see their favorite influential person to see their wishes, such as a real-life pick-your-own-adventure. sport.
“Producers are burning out, but their fans want more and more,” said 25-year-old Jane Lee, founder of Economy Community, a popular producer on disc. “By monetizing every aspect of their lives, they can extract value from everyday interactions.”
Courtnew Smith, founder and chief executive of NewNew, said the company was “similar to the stock market” in that “you can buy shares to be able to control a certain level of a person’s life, which are essentially votes.” “
“We’re building an economy of attention where you buy moments in other people’s lives, and we take it a step further by allowing and enabling people to control those moments,” she said.
The platform began beta testing with a select group last week, and several Tiktok and YouTube stars have already started making money.
“Have you ever wanted to control my life?” Lev Cameron, 15, a ticketmaker with 3.3 million followers, was asked in a video recently posted to NewNew. “Now is your time. You can really control the things that I do all day and vote on it and then I’ll show you if I’m finishing the stuff to vote.” “
He went on to ask his fans which sport he should play with friends: dodgeball or catch. In the background of the video, her friends shouted “Catch!”
I wish, 78 percent of the fans voted Dodgeball. (Mr. Cameron said he didn’t really want to play dodgeball because it could damage the fence in the yard, but fans talked.)
“When they vote, I do what they vote for,” he said. “It’s not like, oh, I secretly do another thing. It’s surprising how many people vote and who they vote for.” (Mr. Cameron has also allowed fans to see what he does See which video games he plays and what is the name of his pet hamster.)
Ms Smith said the platform empowers users to ban users who are aggressive, inappropriate, dangerous after the election or break the law.
While beta testing is still only invited for creators, Ms. Smith hopes that eventually everyone – from celebrities to average people – will be able to take advantage of it.
“Sure, it’s fun to control a famously influential or famous person, but it’s honestly just as entertaining to control someone you go to school with, or your boyfriend’s ex-girlfriend , Or the author planning his next sci-fi novel, or a beauty founder, his next make-up palette, “she said.” It doesn’t matter how bored you think you are there, there’s someone who can change your life. It will look interesting at the point they are ready to pay. “
Comments, Collaboration and Crypto
Well-known creators who are not yet monetizing the minutia of their lives are still making money on everyday digital interactions. (Why comment, like or share someone’s photo or video If you are not paid😉
Recently, a forum called PearPop It has become popular on social media to allow fans to pay for interactions with their idols. For example, for $ 250, Tittock star Griffin Johnson would Comment on your video. If you do not have $ 250, you can offer your best bid.
Pierpop’s co-founder and chief executive Cole Mason said, “Monetizing your social presence has traditionally been accessible only to those who can secure big brand deals.” “This is no longer the case. The idea for PearPop makes a lot of sense for creators with over 10,000 followers and 10 million followers, democratizing producer demonetization by providing something.”
Collaboration between stars (and up-and-coming creators) is also becoming more easily monetized. Another new device, called stir, Trying to help creators split the money for the videos they make together.
“We feel that the future of producer demonetisation is collaboration,” said Joseph Albnis, CEO and founder of Stir. “We let creators take them anywhere they make money, whether it’s a YouTube video or a Shopify store, and there is a revenue split with other creators.”
The crypto world has also proved enticing for creators looking at demonetisation.
Rally.IO, A crypto platform, allows creators to launch their own digital currency to create an independent economy with their fans. Fans can purchase the manufacturer’s currency and use it to unlock exclusive or unmanaged content.
Clubhouse star Bomani X has started offering its own $ BOO coin currency and Twitch producer FanHOTS has introduced $ AN coin; Coin fans can use it to choose which character they will play in the online game.
And then there is the world of nonfreeze tokens (NXT), Which are pieces of digital art and media that live online. Although anyone can watch NXT on the Internet – buyers “get” nothing in the physical sense – they have become a rapidly growing market. Digital media pieces serve as a rare collection. YouTube star Logan Paul Recently sold NXTs worth $ 5 million.
YouTube creator Joshua Wanders, 30, a YouTube creator with more than 8.7 million subscribers, “has the potential to earn a huge amount.” “This is 100 percent profit driven by the frenzy.”
Last week, Mr. Wanders and four other creators released pictures of their feet as NXT. (NXT is the blockchain technology that creates these images, which can be used as an immovable record to designate authenticity in ownership.)
The creators uploaded pictures of their feet on an auction site and bid. Livestream was also monetized.
27-year-old Zac Honorver, founder of talent management firm One Day Entertainment, said he and Aircrack, a producer they manage, are playing with using NXT to “share” fans of a YouTube video.
“Before the video goes up, we can break it down to, say, 10 clips, then collide those 10 clips as NXT,” Mr. Manawar said. “When someone buys that NXT, that person will be entitled to a tenth split in advertising revenue from the video. By purchasing in advance, you will become the shareholder of that video. “
The goal would be to use NFT to create fully decentralized fan-owned and fan-driven YouTube channels. “A YouTube channel in which fans can decide everything,” Mr. Manawar said.
The only hurdle is the Securities and Exchange Commission, which does not allow NXT sellers to guarantee revenue as part of ownership.
Nevertheless, for Mr. Wanderers and other creators, these schemes feel safer than simply building businesses on social platforms, which may prove fickle. Their algorithms and community standards may change, as can their monetization structures – not to mention, they can go out of business. “With the Internet and YouTube, there is always the worry of being demonetized and canceling your channel,” he said, “so people are always looking for alternative ways to make money. You never know when at the end of the day the platform gives you Where to take it. “
Play to pay, but for producer drama
As the creators devised new ways to monetize their following, Eliza Daniel26, a producer in Los Angeles, is helping followers put a price on creators. On friday he launched Clout market, Which is a bit like a trading card, but of influential people.
The Klout Market offers 10 million NXTs featuring top producers Trisha payas, James Charles, Bryce Hall, David Dobrick and Geoffrey Starr. NXT is designed to look like a Pokemon card with pixelated images from each manufacturer. The cards bear a parody name for legal purposes, Mr. Daniel said, so Tana Mongio’s card has “Tana Mongoose” written on it.
The price of these items is determined by the manufacturer’s relevance online. Mr. Daniel worked with a developer to create a dynamic pricing structure that adjusts prices in real-time. (It draws from social and analytics platform data.) If a creator loses or trends followers on Twitter, the price of NXT Mr. Daniel created for them will go up or down.
Mr. Daniel stated that the goal of selling these NXTs is to let fans monetize the drama around their favorite influencers. “A lot of fans will buy them for support,” he said, “haters will buy them to bet on the downfall of people.”
“Influencers and social media stars are making a lot of money from dramas and scams,” he said, “and most of them are fake. It’s a way for fans to be able to invest in those scams and make money.” For everything very much. “
He said: “If we have to go through another scam, it would be better for all of us to pay for it.”
“This is the first wave of creators adopting new technologies to connect with an already-fan-base,” said Jeremyha Ouyang, Rally.io’s manufacturing consultant. “But instead it is unilateral and completely pragmatic,” he said, “fans are just as much a part of the creation experience as creators.”