How Web 3.0 Can Help YouTube Content Creators
May 17 2022 - 12:01PM
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YouTube, Instagram and TikTok are some of the most popular
platforms for content creators to express themselves, create a
community and – ultimately – generate income. However, as a part of
the Web2 ecosystem, these platforms have some shortcomings when it
comes to monetization and allowing content creators to engage their
audiences. Web 2.0 vs. Web 3.0 Web 2.0 is all about user-generated
content, greater interconnectivity and social interaction. People
have been able to use Web 2.0 to generate forms of income: from
subletting their homes, selling their goods and services and
promoting brands through their YouTube channel or Instagram. But
Web 2.0 has also demonstrated its dark side, evidenced by
Facebook’s Cambridge Analytica Data scandal. Web 3.0 boasts all of
the benefits of Web 2.0, but has further benefits for the average
internet user. Web 3.0 is all about decentralization, meaning that
instead of our data being held by one organization, like Facebook,
our data will be stored in multiple locations through blockchain
technology and cannot be manipulated by any single entity. Web 3.0
is also more interactive, with technology like AI and machine
learning set to be at the forefront. Web 3.0 also features
tokenization, meaning that people can convert many forms of assets
into tokens on the blockchain. Content creators For the content
creator, Web 2.0 has some drawbacks. Firstly, it is difficult for
any new YouTuber to crack the platform’s algorithm and boast
initial views – regardless of the quality of content that they
produce. The YouTube algorithm is inherently biased towards
channels with greater views and subscribers. While content creators
are eventually able to make money from YouTube and ads once they
reach a certain number of views on their videos, the platform is
limited in providing content creators with alternative means of
generating income. If content creators were allowed to tokenize
their content and brand, they could generate further revenue.
Leading the Web 3.0 Content Creator Revolution: XCAD XCAD allows
for the tokenization of YouTubers. XCAD allows for content creators
to create their own token that their fans can purchase or earn by
watching their videos. XCAD has a plugin on Google Chrome that
automatically has fans get creator tokens just by watching their
favorite YouTuber’s content. Unlike anything ever seen before, XCAD
allows creators and viewers to be rewarded. For the content
creators, this system allows for income generation through
tokenization, further views to gain more income from the YouTube
platform’s algorithmic rewards system and allows them to reward
their fans for watching their content while further engaging them.
These Creator tokens can be used by fans to get closer to their
favourite YouTuber. Holding them could grant fans access to events,
private groups and even video collaborations with the YouTuber.
Apart from tokenization, within XCAD’s roadmap is a plan to allow
content creators to mint their own unique NFTs that can be
purchased by their fans. Fans will be able to purchase content
creator’s NFTs through the content creator’s token or the XCAD
token. Creators can offer NFT “moments”, which are essentially a
collection of creator moments from videos, with the most iconic
moments being rare and more valuable. Platforms like XCAD are
inevitably the way forward and the project has a bright road ahead.
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