The development of social media allows everyone to become a content creator. While the creator economy continues to grow, the incentives to participate in it continue to diminish.Because of the 100 billion market Dominant With a handful of centralized platforms, creators rarely see fair compensation for their efforts.
Taking YouTube as an example, only recent Start paying creators a small percentage (45%) of short video advertising costs. Streaming platform Spotify has also cut advertising revenue by 30%. leave Creators share $0.003 to $0.005 per stream with rights holders and publishers.
Coupled with growing concerns about data ownership and the lack of sustainable financial models, it’s clear that the creator economy needs to rebuild itself by putting users and creators at the core. As the digital landscape evolves, it is critical to leverage decentralized approaches to overcome key challenges of the creator economy.
Web3 social media that puts users and creators first
Popular social mediaIt is a Web3-friendly social media platform that combines SocialFi, Web3, and artificial intelligence (AI) to solve the key pain points faced by users and creators in content creation. The platform aims to eliminate creator exploitation by providing creators with fair compensation while introducing new mechanisms to reward users for their participation. To achieve this goal, Pop Social diversifies its revenue sources by including AdTech revenue, non-fungible token (NFT)-related revenue, Phygital store and open API subscription model to ensure a sustainable financial foundation.
Pop Social goes all out for true content ownership by using on-chain unique profile IDs and allowing users to obtain their IDs from other decentralized protocols. Through artificial intelligence integration, users will be able to see personalized recommendations based on merit rather than popularity. Pop Social leverages artificial intelligence to provide users with a more balanced experience while laying the foundation for a reliable feed to prevent fake news from appearing on the platform. It aims to create a vibrant and inclusive social ecosystem by focusing on social recovery, user-controlled data privacy, and transparent content moderation policies.
As an integral part of the Pop Social ecosystem, Pop Labs is a launching pad for innovation driven by generative artificial intelligence, creator incubation and project planning.
“We envision a future where the convergence of social, Web3 and artificial intelligence will redefine the way we interact, create and grow in the digital realm,” Pop Social CEO Michael Shen told Cointelegraph. “At the heart of this vision is a seamlessly integrated ecosystem. Supporting individuals, content creators and communities.”
“SocialFi’s goal should be to create an exciting and inclusive ecosystem that allows users, creators, and communities to thrive economically while reaping the benefits of a decentralized, transparent, and secure social experience.”
Cointelegraph Accelerator welcomes Pop Social to its growing list of promising projects. Given the disruptive potential of Web3-native social decentralized applications (DApps), they have disruptive potential for the $100 billion creator economy. Pop Social has good traction in terms of active users and app downloads, and its founding team is composed of experts with extensive experience in the blockchain industry.
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