Go far together in the Creator Community Economy

April 21, 2022 | 15:53
Over the past few years, the Creator Economy has been taking over the globe, quickly becoming a hotbed for creators that allows them to unleash their creativity, attract public attention, and generate income.

The booming world of content creation isn’t all glitz and glamour, though. Creators soon realise that they must tackle a mountain of mind-boggling challenges, from complex social media algorithms to unequal payment ratios and intense market competition.

Every day, there are millions of new users signing up and every content creator must be aware of the fundamental rules and have insights into this growing economy.

Go far together in the Creator Community Economy
Go far together in the Creator Community Economy

Creators’ uphill climb

In the Creator Economy, content inequality is a known issue that keeps increasing. Due to algorithms for recommendations, an entertaining video can attract millions of views relatively easily, while one with more serious content might be overlooked.

The truth is that algorithms prioritise trends and entertainment value. This creates a game of audience engagement, forcing a number of creators to predominantly focus on the statistics. Amid this trend, the joy of being creative gradually fades, only to be swallowed up completely by the pressure of meeting key performance indicators for views, shares, and comments.

The never-ending race across social media platforms to produce crowd-pleasing content can cause the creators to become uninspired. They are no longer motivated to deliver unique content that shows their true colours. This is a growing concern, particularly for those with dedication who have a strong passion for original content.

Advertising is an essential part of social media platforms. Videos gain revenue with every advertisement watched and then payout to creators. However, the ratio is entirely up to the companies. Creators have to follow regulations and getting a better deal is not straightforward.

The birth of a new economy

Understanding the countless challenges that creators have to face, Creatory – a pioneering company in the influencer management industry – has established the Creator Community Economy. The organisation believes in reigniting the joy for creators so they can simply be themselves.

With Creatory’s initiative, instead of flying solo, creators can easily collaborate and inspire one another, which ultimately creates a more vibrant community, high-quality content, and higher incomes.

In the era when content is king, innovative ideas can also go beyond markets to reach an international audience. In that vein, Creatory supports content creation by bringing creators together and nurturing a system that anchors the Creator Community Economy.

Web 3.0 is the future

Go far together in the Creator Community Economy

The current generation of the Internet – Web 2.0 – works as a hub of information with a selection of social networks like Facebook, Instagram, Youtube, and TikTok. The 3.0 generation is completely different though. Entirely driven by machine learning, AI, and blockchain, it has a decentralised data architecture. Compared to the current centralised system, it is a breakthrough that benefits Creatory’s vision of connecting talented creators.

Go far together in the Creator Community Economy

Web 3.0 is the future of the Creator Community Economy, said Creatory’s CEO, Jay Jin. Its advent and Creatory’s content creator community provide true freedom. It also means that members can earn money fairly without sharing their earnings with any third party or having to comply with the rules and regulations of social media platforms.

Go far together in the Creator Community Economy

Jay Jin also suggested that Web 3.0 will be a revolutionary turning point, empowering the growth of the Creator Community Economy so creators can reach audiences in every part of the world. It will help to overcome the barriers created by social media conglomerates and facilitate fair payments for creativity. Another advantage is that as the Web 3.0-driven economy grows thanks to cryptocurrencies, creators can easily receive payment anywhere with the crypto ecosystem.

Being a pioneering company in connecting creators in Vietnam, Creatory hopes to transform the Creator Community Economy – which is still relatively young – to brim with both challenges and opportunities.

Jin stated, “Over the next five years, we can expect to see the content creation industry in the country grow more strategically. There should be more new and innovative paths to follow.”

By Iris Nguyen

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