For years, the relationship between brands and creators has been rife with power struggles, with brands typically wielding enormous power over creators. In 2019, Taylor Swift penned a fuming Tumblr essay where she called out her record label for selling the rights to her music to another record label owner without giving her a say in the transaction—or the chance to own her own music. Brands have frequently taken advantage of creators and limited the ownership rights they have over their content.
But times are changing with Web3—the next iteration of the internet that is characterized by decentralized apps and blockchain technology. As a decentralized web, Web3, provides a more direct link between creators and their fans. This means that individuals own and govern parts of the internet and consumers no longer need to access the internet through intermediary behemoths like Google and Facebook. Because creators can issue their own social tokens to build and reward their audience, they can gain control and decision-making rights that have been traditionally held by brands.
If brands are going to succeed, they’ll need to prioritize their relationships with creators more than they have in the past. Brands need to recognize the importance of their relationships with content creators and acknowledge that they need to invest much more effort into forging strong relationships with creators than they have in the past.
Continue reading: https://www.forbes.com/sites/falonfatemi/2022/09/14/how-web3-is-uprooting-the-relationship-between-brands-and-creators/?sh=132e68cf5906
But times are changing with Web3—the next iteration of the internet that is characterized by decentralized apps and blockchain technology. As a decentralized web, Web3, provides a more direct link between creators and their fans. This means that individuals own and govern parts of the internet and consumers no longer need to access the internet through intermediary behemoths like Google and Facebook. Because creators can issue their own social tokens to build and reward their audience, they can gain control and decision-making rights that have been traditionally held by brands.
If brands are going to succeed, they’ll need to prioritize their relationships with creators more than they have in the past. Brands need to recognize the importance of their relationships with content creators and acknowledge that they need to invest much more effort into forging strong relationships with creators than they have in the past.
Continue reading: https://www.forbes.com/sites/falonfatemi/2022/09/14/how-web3-is-uprooting-the-relationship-between-brands-and-creators/?sh=132e68cf5906
