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Content creators from various platforms along with entrepreneurs sat together for a roundtable on May 30, 2023, in the San Francisco TechWeek, to talk about how Web3 is changing the content creator economy. It was hosted by Orbis86 and Virtualness.io, and sponsored by Hedera. The five-member panel consisted of influencers, content creators, and entrepreneurs investing in the creator economy.
Max Reisinger is a popular Youtuber with over 100 posts. He has co-founded Creator Camp, which helps like-minded creators to connect. He is also the co-founder of Circle Park, an advertising campaign agency for creator-led campaigns.
Cherie Luo is a renowned TikTok creator for educational content on product management. She is a former product manager for LinkedIn, and regularly publishes content as a learning instructor. She has created an NFT collection– Stay Hydrated.
Dulma Altan is also a popular technical-content TikToker, and has her own podcast.
Jim Louderback is the editor and publisher of the newsletter– Inside the Creator Economy. He was also the managing partner at VidCon.
Gabe Weis is the founder and artist of “The Stoic NFT” and has continuously ranked among the top-selling NFT artists for the past couple of years.
Extending Utilities of NFTs
Cherie explains her own understanding of how she needed to “sell more than just a pretty picture” for her digital art as NFT, “So utility-NFTs, I’m super bullish on them. I drew a pretty picture on my iPad. It was good, but not that good. I don’t think anyone should actually buy that for art itself. It’s what it provided, which was access to my community and my time.
The problem is there’s an education lag in the space— about NFTs, what does it provide, understanding gas fees, how to even set up an account, how to connect it to a wallet then, how to buy NFT?”
Talking about the huge potential of utility-NFTs, Weis says— “I think utility-NFTs is a huge market for corporations that want to have a relationship with their collectors. And I think the nice thing about (an NFT is that) the product is done. It’s done right there, instead of me having to promise the rest of my life away, which to me, is actually a super value.
(For Web2 projects), you get a certain payout, and then you lose money everyday from that point on, that isn’t a very good business model. But until corporations really dive in huge, I don’t think you’ll see utility-NFTs do particularly great.”
Remarkably, brands like Starbucks, Gucci, Nike, etc. are already doing this with digital drops of goods.
Creators Making Content for Organizations
Dulma talks about the collaboration pitches that attract her the most— “One thing that I think really distinguishes the strong pitches from the rest, is pitching me from the perspective of how it’s going to benefit my audience instead of me… Your followers will let you know very quickly if you are pissing them off, or are starting to come off spammy or salesy.”
Reisinger emphasizes upon the idea of building long-term relationships, instead of making one-time deals, such as by giving equity, involving them in the project, promoting them etc. He says, “For me, it’s been ownership. There’s been a lot of brands where it’s just like one-offs. I call them “one night stands”. I think long-term relationships are where the most growth is seen, and where the future is headed.
I think if you give creators a small stake in what you’re building, they’ll do a lot for you; I’ve noticed that in my experience, and other creators I’ve spoken to. They’ll help with building bigger businesses, marketing insights, feedback… So giving them part of the pie is super important.” Weis adds a superb point to the idea— “Don’t pay them an exposure point. At this point, I already have a lot of exposure.”
Louderback advocates for positional equality— “When you work with a creator, remember, they are also the CEO of a direct-to-consumer startup. They have as much power in the dynamic of the relationship as you do. Make sure that the contract is balanced and fair, and there’s reciprocity.”
Strategy for Content Creators
The speakers also had tips and tricks for the growing creators. Louderback advises, “Get on TikTok, (Youtube) Shorts and (Instagram) Reels. So you’re actually doing it double. You should also build up your audience on LinkedIn. That’s a great place to start building up.”
Cherie gives many valuable notes— “For short form (content), a lot of it is quantity. And you want to make sure there’s quality too. Post on a consistent schedule. On TikTok and Instagram, it has to be once a day. On LinkedIn, they’ll down-rate you if you post too much. It depends on the platform, but post a lot, post consistently…”
Louderback adds, “Clip up your podcast (or other long-form content) into short-form, 30 seconds to a minute. That helps create content without having to create more content.” Cherie agrees, “It’s a great strategy. If you already have a long-form video that you can make into a short form, if there are nuances there. (Although) original short-form content works best.”
Web3 content creation is an emerging economy, expanding the utilities of this new era of internet. Non-Fungible Tokens are a great means for that. It is what meets the eye first whenever creators are looking to venture in this new version of the internet. Given the founding principle of creator-fan economy, the practices that would help influencers develop their audience in Web3 are pretty similar to those with Web2 media.
Disclaimer: The article is a transcription of the interview conducted by RJ Soniya Ahuja. No statement or comment in the article is a direct or indirect portrayal of the writer’s views or opinions. The interview does not intend to promote, demote or demean any organization or community. It also does not intend to give the readers any financial or investment advice.
Soniya Ahuja, a respected leader in the Web3 and crypto community, empowers through Orbis86. With a background at Deloitte and Broadcom, her expertise spans two decades. Through initiatives like the 1111 Orbisons NFT collection, Soniya promotes diversity and community engagement. As host of “The Silicon Dreams,” she shares insights on AI, ML, and Web3, inspiring worldwide innovators. Passionate about educating and onboarding one million individuals into Web3, Soniya fosters adoption and understanding.
