From video game enthusiasts monetizing their passions as shout casters to fashion influencers supercharging their careers into livestreamers on e-commerce platforms, the creator economy flourished, evolved and matured in the past year. Largely catalyzed by the ongoing COVID-19 pandemic, contemporary creators benefited from the gradual shift in consumer behaviors as more people came online across the globe. Now valued<\/a> at over $100 billion, the creator economy is witnessing staggering growth as the worlds of e-commerce, social media and online communities converge.<\/p>\n With opportunities mounting in social tokens and corresponding virtual playgrounds such as the Metaverse, the year ahead seems to be filled with a great deal of promise. What lies ahead for creators in an increasingly digital and decentralized 2022?<\/p>\n From OnlyFans<\/a> to TikTok<\/a>, social networks may give creators<\/a> access to communities but these creators are what drive traffic<\/a> to these platforms due to the strength of their content. Whether they are an artist, musician, writer, photographer or all-around influencer, they are the true revenue drivers on these platforms. However, the relationship between a creator and their community is ultimately intermediated by a third party \u2014 the platform \u2014 which can impact the extent to which a creator is fully rewarded and compensated for their work. Sometimes this manifests itself as a cut in revenue and can even impact the type of content created and what it can include. <\/p>\n Related: <\/em><\/strong>Twitter and TikTok embrace NFTs: Mainstream adoption incoming?<\/em><\/strong><\/a><\/p>\n Imagine if you could create without limits. This is the benefit that social tokens stand to offer. Blockchain-powered fan tokens can fulfill several functions: For one, they can be used to reward fans for their engagement, further encouraging them to engage with a universe of content. Not only does this help in growing one\u2019s community, but social tokens can also be used as a medium of exchange \u2014 fans can directly compensate creators for work that they like, powering a mini economy that effectively cuts out the middleman from the equation. By essentially tokenizing themselves, creators invite their fans to take a stake in all they do \u2014 consider the example<\/a> of 23-year-old entrepreneur Alex Masmej who launched<\/a> ALEX to raise enough funds for a flight to San Francisco to launch his startup. <\/p>\n Social tokens essentially represent the ethos of Web3<\/a>, connecting creators and consumers of content directly and enabling them to benefit from a value exchange. However, there are philosophical questions that merit some thought. What does it mean to tokenize yourself? Do you risk raising the bar and the pressure to perform? After all, incidents of social media influencers struggling to meet the demands of their followers have been well-chronicled<\/a>. But as the creator economy continues to evolve, social tokens are still a valuable step forward that looks to level the financial playing field for what\u2019s fast becoming a legitimate career path. <\/p>\n Much like social tokens, nonfungible tokens (NFTs) are another innovation shaping the creator economy. Consider that the NFT-based crypto art market is now worth<\/a> over $2.3 billion (as of mid-February 2022), pointing to the lucrative opportunity that artists have in accessing new monetization streams for their work. <\/p>\n Meanwhile, NFTs can also be leveraged to engineer a new model of fan engagement as they reconcile virtual assets with real-world experiences. Enter the phygital experience \u2014 a mix of physical and digital. NFTs can be tied to real-world perks \u2014 if you\u2019re a musician, that could mean a lifetime supply of concert tickets or VIP meet and greets and as an artist, a select number of prints in a collection \u2014 all while ensuring that these assets verifiably belong to a fan, attesting to their ownership and authenticity. As economies gradually reopen and we continue to see the eventual normalization of social activities, experiential NFTs as a tool for long-term fan engagement are likely to grow in popularity.<\/p>\n Let\u2019s not stop there, though: Enter interactive NFTs. These assets can change over time based on a fan\u2019s modification to the content. Consider a digital collectible like a player card issued by an athlete \u2014 a fan can request for a digital autograph to be emblazoned onto the item, effectively adding to and altering the NFT, adding to its scarcity. For artists, this could mean creating collaborating digital artworks that their fans can add to, allowing for a more active two-way fan-creator relationship. <\/p>\n Related: <\/em><\/strong>Bull or bear market, creators are diving headfirst into crypto<\/em><\/strong><\/a><\/p>\n Much has been said about the age of Asia and that phenomenon certainly extends to the continent\u2019s creator economy. In 2021, the number of influencers across the region grew<\/a> by 66 percent, particularly in markets such as Indonesia, Japan, the Philippines, Taiwan and Thailand. While the influence of Western social networks is certainly widespread across the continent \u2014 with the likes of Indonesia\u2019s growing population of digital natives ranking<\/a> fourth in the world for Instagram usage \u2014 localized homegrown alternatives continue to proliferate. From China\u2019s Sina Weibo to Japan\u2019s LINE, creators need to master strategies to best navigate the cultural and communal nuances unique to each market. <\/p>\n Though the majority of Asian nations are still on the rise, China has arguably solidified its position as a leader in the creator economy, backed by a mature, professionalized network of e-commerce platforms that have helped to popularize live streaming as a career \u2014 a market that is estimated<\/a> to rake in $60 billion each year. The model is fast replicating itself in other Asian markets, especially across Southeast Asia by e-commerce marketplaces such as Lazada and Shopee. <\/p>\n Related: <\/em><\/strong>All eyes on Asia: Crypto’s new chapter post-China<\/em><\/strong><\/a><\/p>\nA more equitable dynamic<\/h2>\n
Revitalizing the meaning of engagement<\/h2>\n
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<\/figure>\nCelebrating the rise of Asia<\/h2>\n
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