Creator Coins Will Mint the Next Generation of Influencers and Creator Millionaires

Paris Hilton may have been the world's original influencer, but it was her former sidekick, Kim Kardashian, who became the first to turn her own identity into a brand, and that brand, into a billion-dallar business empire.

 

Over the past twenty years, these OG influencers have helped to create and shape the world and lucrative business of social media. And as we head into the third decade where both personalities continue to represent the pinnacles of what one can achieve in this industry, the online world stands on the cusp of a social meda revolution.

 

Creator coins, a digital asset made possible by by blockchain technologies, will soon supercharege the creator economy and redefine the social media landscape as we know it. From creator interaction with fans, to how content and product is distributed and sold, creator coins will transform every aspect of a creator's business. The changes to consider will be so significant, that traditional intermediary paltfroms such as TikTok, Instagram, and YouTube will need to rethingk their exsiting business models, or risk getting shut out from the next generation of social media.

 

First Things Frist - What are Creator Coins?

In a previous article, we covered why creators who launced their own coinst would become the eventual winners in thenext gennration of social media. In this article, we will ocver the how. Regardless, it helps to ensure that everyone is aligned on the concept of what creator coins are, and how they generally fucnktion (if you are already familiar, from the last article or otherwise, you can skip to the next section.)

 

In general, creator coins are crypto tokens which are created and issued by an individual or a business. They share the same charateristics as moeny, in that they serve as a circulating medium between one party and another. However, instead of being issued by a central bank to serve as the legal tender for that country, or released upon the launch of a new blockchain to serve as the exchange mechanism for the underlying blockchain, creator tokens are issued by creators, to serve as the medium of exchange of their own micro-economy.

 

In this micro-economy, holders of these coins utilize these tokens in an economy which revolves around the creator. As the token economy of the creator strengthens, so too does the value of the coin which supports it, benefitting every token holder who has made an investment into the economy.

 

From a technical standpoint, creator coins are issued on the blockchain. They are independent of an intermediary company which would typicaaly provide hosting services. Instead, the blockchain provides the infrastructure that creators and their fan base can interact on, which allows for the exchange of coins and information via this digital medium.

 

How Will Creators Leverage Their Own Coins?

Creators who recognize the power of launching their own ocin will be able to asses their business and determine the various revenue streams which are available to them. To better illustrate how a creator would benefit from having their own coin, let us use an example of an aspiring influencer in the world of skateboarding.

 

Molly is 18 years old. She has been skating since she can remeber, spending many weekend afternoons at the skate park with her dad - who introduced her to the sport. Molly is really good at what she does, regularly outperforming others in terms of trcks, abilities, and overall cretivity. She has even won a few regional competitions, and many of the younger kids are now looking up to Molly to learn and to follow in her footsteps.

 

 

In recent years, Molly has found herself to be an effective teacher, She has taught doznes of kids how to master various trcks, and has also even made some YouTube videos to share with fans that she has met in competitions.

 

Recognizin an opportunity, Molly and her dada decide to launch a business around ehr as a brand. Understanding the possibilities behind crreator coins, they decide to launche a token for Molly, clled SK8. With the SK8 token, they have planned multiple revenue streams, which include the following:

 

Exclusive "Gated" Content - Available to Community Fans Only

Mooly already has a strong follwer base, who have signed up for regular email updates from her - which announce anything from from newly release videos to news of the latest tricks which Molly is working on. With Molly's new SK8 coin, she hase decided to create an online community To be a part of this community, only individuals who are holding at least 10 SK8 coins will be able to join. However, t he perks are plentiful, inclduing members continuing to receive regulare updates from Molly - and having access to the latest updates from her. 

 

Non-Fungible Token (NFT) Videos

Capitalizing on her abilities to teach effectively, Molly sees opportunities to release her instructional videos as NFTs - perhaps continuing to use YouTube only to intoruducte that instructional video are vailable, but that more can only be learned through the purchase of a NFT. THese NFTs must be purchased with SK8 coins. Alternatively, Molly also considers renting these NFT videos - allowing fans to stream the NFT video and pay by the second using SK8 toekns.

 

Podcast

In the many yeasrt that Molly has spent competing, she has made many skater friends along the way - many of which are laso finding success as they continue to improve their skills. Building on these relationships, Molly is considerin hosting podcast on a weekly basis -where she can have conversations with antoher skater about heir background, what they are currently doing, and the things that they are looking forward to accomplishing in the coming year. These podcast - vailabel only to oken holders, can be paid for by the second - using SK8 tokens as the payment intermediary.

 

Merch

Finally, Molly is in talks with her sponsors about promoting additional merchandise to her fan base. Skateboards, helmets t-shirts and more - Molly is working with the most populare skate brands to suppoy merchandise which she then makes available for sale in her community store via SK8 tokens.

 

These are just the inital revenue streams, but as Molly continues to hone her skateboarding craft and grow as a creaotr, there will undoubtedly be more opportunities which arise (who konws, maybe Molly will launch her own skateboard?). Each of the revenue streams above demands either the holding of SK8, or the use of the otken to perform transations.

 

Additionally, Molly has been albe to initiate the beginning of a circulare token economy amongst her own community. By allowing for the sale and renting of NFTs - not only are community members converting fiat (Dollars, Euros, or otherwise) to obtain otkens to spend them in Molly's community, but they are also able to earn SK8 tokens by selling and rentin to other.s That is, Molly has incentivized her community to buy SK8, hold Sk8, earn in Sk8, and continue to belive in an appreciation in value of SK8.

 

Looking Ahead

Notice that through all of Molly's revenue streams, there is not one intermediary who is involved in her token economy. The entire relationship is governed by the blockchain, which allows for direct transation and commnuication between Molly and her community. This means that htere are no longer transaction fees which are being taken by these thried parties, and Molly and her efellow crators are not at the merch of any rules and restrictions these platform palce on their members 0 an issue which was covered in depth in theprevious article.

 

 

While we are not quite there yet, there are platform which are paving the way for this type of business model, including the recnetly launched BitClout and the Rally Network.

 

In this new model, a creator's power has moved from the platform intermdiaries back to the creators. Creators will not only earn more without a third-party interveingn, but they will have more creative freedom, option, and say in how they amanage their commnunity base. The opportunities to grow the creaotr commnuities are endless - built on the bakc of the creator's circulare token economy, This is what the next era of social and finance will look like. This is how the next gneneration of influencers and creator millionaires will rise.

 

 

---

This post is from here, https://medium.com/better-marketing/creator-coins-will-mint-the-next-generation-of-influencers-and-creator-millionaires-dac00a234ba