The Interactive Canvas — Understanding The New Creator Economy

 

Creators across a variety of platforms have been working hard to incorporate the sudden shift in the way that intellectuals consume and latch on to content. While some creators may feel as though their community’s support may dissolve in favor of modern-day entities such as cryptocurrencies and NFTs, the integration of these technologies can be a gateway to exciting new opportunities and consumer relationships. Many larger corporations like Microsoft, Paypal, and even Subway have quickly jumped onto the cryptocurrency bandwagon and have begun accepting transactions using popular cryptocurrencies such as Ethereum and Bitcoin.

We are moving away from an attention-focused economy. The advent of social media catalyzed a stark change in the everyday human psyche: our motivations became based on keeping our attention and to some extent, we began to miss the point. Having access to information has been prioritized over the quality of the information itself and this has had a serious effect on our ability to absorb content. If something doesn’t grab our attention within the first few seconds of us engaging with it, our minds drift away in search of something with a higher ‘wow’ factor. Advertisements have become an oversaturated sea of flashing images that are too brief to properly absorb, which is why creatives started to seek other means to engage their supporters.

Creators have begun to realize that even if their app or Twitch stream has shock value, slick editing, and dramatic music, they’re not going to grow their reach as much if there’s no substance to their actual core concept.

Worldwide, the digital revolution is reshaping our values and how we choose to support them. There is an entirely new digital landscape developing where creators get to diversify their output models in ways we’ve never seen before. Forward-thinking creators have already struck gold by producing innovative and revolutionary content that greatly improves consumer relationships. The pricing power of creativity is moving back to creators and consumers and is no longer decided by larger companies looking to strongarm their smaller competition into submission. Now, larger corporations have to pay attention to trends that are generated between creators and the audience so that they can parallel the values that are built through these interactions. This change is the fundamental concept behind decentralization.

Creatives and corporations alike have noticed that instead of trying to garner a large pool of followers for the sake of keeping up appearances, it’s better to harness a localized group of people that are genuinely interested in interacting with their brand. This encourages the idea of a community as opposed to a hierarchical structure. Intellectuals are more likely to give their attention to brands that they can be actively involved with instead of ones that offer a one-way stream of communication.

Conversely, creators can also take their product straight to the consumer without having to account for redundant distribution services that compromise their profit margins. Now more than ever, creators have direct control over their product’s value and reach. Interactive platforms such as Patreon, Twitch, and Substack have given consumers direct access to the creator. Tiered subscription services seem like a smarter way to spend money rather than simply fishing through a Netflix menu for repetitive stimulation.

Having this kind of interactive access to a consumer base also means that you, the creator, have to be able to operate and produce at the same rate and level as your competitors in your community. In the fast-paced world of social media, this means putting out frequent and consistent visual content. This process can be costly and frustrating when combined with countless hours searching for things like stock imagery, backlinks, or royalty-free music for your Twitch stream, IGTV, or other commercial use. However, it’s quite a common practice to find ways to collaborate as a means of feeding off each other’s localized communities. Collaboration is key in this current climate: if you spread the load you can share in the bounty.

While the prospect of all these major shifts in digitized communities may be intimidating, they are necessary and unavoidable. Data is the most valuable commodity in the world at the moment and, unlike oil or gold, it is an ever-growing resource that will never expire. This ideology leads us to realize that it’s inevitably up to both the creator as well the consumer to decide what information is valuable and why.

With the advent of NFTs, cryptocurrencies, and the birth of open-source intellectual goldmines like Decentraland, we find ourselves amid a digital gold rush and we’re not sure if this well will run dry. If you’re currently spearheading a service or product that has an active online community, it’s almost guaranteed that your supporters are seizing on these new ways of interacting with you. They might even be waiting on your first endeavor into the realm of all those digitized possibilities.

It’s highly recommended to lean into these trends, as it will not only give you invaluable and precise consumer feedback but also bring you exponentially closer to loyal and sincere followership. The only constant is change, and having one ear to the ground and one eye on the horizon is crucial to master this exciting new digital landscape.

AI, CreatorEconomy, Creators, NFTs

AI Music Company

Mubert is a platform powered by music producers that helps creators and brands generate unlimited royalty-free music with the help of AI. Our mission is to empower and protect the creators. Our purpose is to democratize the Creator Economy.

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