I'll Be Honest Today...
Why you don't need to rush as a creator in Web 3
GM, I’m Shreya. And this is Crypto Creatives. The best newsletter about the Crypto Creator Economy. If you’re new here, consider subscribing.
Micheal started crypto creatives last year after learning how creators struggle to make ends meet. He left his successful YouTube channel, even with millions of views on his videos, and jumped into Web 3.
Through the Web 3 community’s magic, we met on Twitter. I had been a silent reader of the newsletter for months before we exchanged any DMs. However, his idea bout the creator economy resonated with me, and we decided to collaborate to raise awareness about the ground reality of creator companies and the struggles we face.
We’ve covered various web 2 and web 3 creator economy topics in Crypto Creatives. We shed light on the problems faced in traditional platforms and the wealth parity between platforms and content creators. We touched upon social tokens, got deeper into NFTs and their utility, got jobs in Web 3, and decentralized social media.
We also talked about being anonymous and open about what we create. We gave away most of what we went through and felt needed to be shared with our community.
Today, I am going to be honest with you. I want to talk about the current state of the new creator world on the blockchain. This is important because people want upright solutions when discussing Web 3 and crypto. They want a magic pill to get rid of all their problems. They want the name of one platform they can join in building wealth. They want to know the NFT collection that can be flipped to gain 100x more. They want to get free tokens and become a millionaire overnight.
They forget that Web 3 is still in the emerging phase, and it would be too early to derive a model that we can copy to thrive as creators. You would be lucky if you minted your NFT collection last year when the market was at an all-time high.
Blockchain provides us the infrastructure to build a new internet that solves the problem we faced with Web 2. The internet’s future, Web 3, is still a work in progress.
Ethereum is still evolving into an upgraded version, Ethereum 2.0, to improve scalability and security. It’s switching from proof-of-work to a proof-of-stake consensus mechanism. New categories of NFTs are still emerging with new use cases for creators and artists. Soulbound NFTs are non-transferable and publicly verified digital tokens creators can use to offer long-term affiliation and membership to their community.
More blockchains are still refining themselves; new innovations are in continuation. Zuckerberg is still perfecting his metaverse. There’s more going on in this space than we can make sense of. We can speculate and prepare ourselves for the future.
Builders are finding more use cases for these changes, which means more ways for creators to enter this trillion-dollar market.
We are back in the early 1990s, right before the explosion of the Internet. Nobody understood it; nobody knew what it would do to the world. We are in the exact same spot with the new internet waiting to explode.
We are not late, in fact, we are early, and we should celebrate that. There’s enough FOMO in this space already.
We still believe it will be insanely profitable for early adopters and creators. And that’s when we’ll ensure all the members of the Crypto Creatives community thrive.
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