Web3: The golden age of the developer

In January 1996, Bill Gates published an article titled "Content is King", which later became one of the most influential articles on the Internet. In this article, he describes the characteristics of the Internet, which are the basis of the Internet.Economics of creators(Creator of economy) Principles. He writes: “One of the advantages of the Internet is that anyone with a personal computer and a modem can publish anything they create.

Gates' letters recalled his perception of the direction of the internet, but less known if he had even been warned. "For the Internet to be successful, service providers must be paid for their work."The long term outlook is good, but we expect a lot of disappointment in the near term."

Gates' preliminary examination of his time. It is true that the Internet has made it possible for almost everyone to publish content online, but 25 years after the announcement of "Content King", content creators have proven to be making significant income. income for exampledifficultcompletefrom.

The self-proclaimed producer describes it well: 90% of Spotify streaming media royalties go up to 1.4% from musicians. The top 1% of anchors receive more than half of Twitch's revenue. Podcast advertising revenue.

Speaking of Spotify's streaming revenue, the musician told the New York Times, “From a celebrity's perspective, the price is going down. This is not an exception and it is not a particular problem for newcomers. 99% of producers are concerned, including a few celebrities with millions of fans. As they struggle to keep their online lives simple, something is affecting them.

The Internet has led to the golden age of advertising, an infinitely rich world where anyone can create what they want and who can find what they want. However, despite Gates' prediction of making money with online content, most of the income goes to people who strip content creators and trade content.Platformin your pocket.

it could beInternet 2How to break down the business model is still there tooWeb 3The outcome of the story reflects the variation of this industrial model and the turning point in the designer's consensus. Because Web2 Internet has not incorporated special monetization, the basic business model is opaque, advertising-based, and relies on closed panels to deliver the best results for the platform and the acquisition or marketing of Web3. . Models and technologies open to the marketgolden age of creation.

The First Crime of the State Economy and the Internet

The simple fact is at the heart of the Web2 history of the Internet that shattered the traditional marketing model.The Internet is not designed to generate income..Payments are not designed for the Internet infrastructure.—— Because it is considered dangerous. Mark Anderson (co-founder of 16z) calls it "the Internet's first crime".

The lack of paid infrastructure is the reason why the Internet often benefits from advertising. Instead of asking the user to download the debit card and post the information on the website,Internet platforms can earn money directly from other assets without any problem.:User supervision. This draws the power from existing media managers (broadcasters, archives, cinemas, etc.) who manage the content created and transmitted, to get users to listen to the instrument.internet platformmovement.

Ben Thompson, founder of the tech blog Stratechery, says:Platform(These are called "aggregators") A way of coming together to attract consumers and achieve huge revenue and impact. For example, YouTube has over 2 billion monthly users, Facebook has nearly 3 billion users, and Spotify has 365 million users. This large audience generated huge streams of income. In fact, Google and Facebook alone account for more than half of digital ad revenue by 2020.

Models in the advertising industry can be like the platforms that develop their products. Pageviews (view) were counted on popular content and producers, creating strong legitimacy.Data on user preferences and behaviors is the most useful platform., so they shut down their own ecosystem and shut down users from their own network, thus accumulating the largest proprietary database.

An advertising-based monetization model is also availablethe content creatorThis has very serious (negative) consequences. Developers need to find the widest possible audience and create content that advertisers are interested in.this industry model—— or does not have this model -It has a huge impact on the way designers live and the content they create.(Promotes visual, visual and supportive content while promoting niche and in-depth content). Web2 Internet The biggest impact will be on non-native and non-native developers due to the lack of business models.

From the matter of interest to the matter of membership

The platform and advertising centric industry may win the Web2 era, but it's never an exception or a final. The patience of developers towards these platforms has gradually faded as the growing crisis of necessity has grown.Developers are starting to ask the platform for the right rules to control their work, their fan relationships, and their benefits..

At the same time, a new generation of technologies has emerged that will change the balance of power in the creative industry.. If the beginning of the Internet / Web1 era preferred advertising and the Web2 era preferred platforms, the next generationWeb 3——It shifts the balance of power and ownership towards developers and users..

This situation generally occurs in four ways.

Pin updigital scarcity, to adjust the design value.

Support Producer Yog hominvestment behavior, not just an altruistic attitude.

new directionProgrammable economic model, to distribute wealth to all areas of producers.

Most importantly, create a channel for developersDevelopers can not only create the content they create, but also the platform itself..

you knowThese 4 variants come together to create it.new eraIn the meantime, the new revival will give the internet a chance to come together, hit the 'restart' button, and move on to a fair distribution of the return value for the new functionality.

We discuss them in turn.

Introduction to NFTs and digital scarcity

Scarcity gets a bad rap, but it's not a problem for consumers who have no choice. These are various productive forces, for example in the context of the text,A manufacturer can make a lot of money from the manufacturer. In today's world where platform-based, rare content and content can be easily downloaded from the Internet. While it can sometimes bring producers closer to rare by engaging or making digital purchases (like selling eBooks, albums, or content subscriptions), the Keywords theme can still be custom printed. 'infinite. This skepticism has led to counterfeiting and distribution issues from content creators.

THE T.VOne of the reasons he's so proud of technology (heterogeneous token) is that it allows developers to take back control of their content and redo the shortcomings to get results. Always availableTokenize works with NFTIn the process, the developer is able to create member credentials and a work history. This process ultimately eliminates a single tool (NFT) that can follow the artist. Fans who are passionate about the developer are willing to pay more for this prestigious project, so that producers can surprise their willing fans. The final impact should not be underestimated.Members do not require a large number of fans to keep their life, but some patience to survive. .

For example, rapid growthNFT Music MarketIt shows this effect. On streaming media platforms, streaming music supports the same revenue each time you play (Spotify incurs a fee of $ 0.004 for each song played on your paid account). For example,RegisterWheresonnerAnd on another platform, the superfans have paid thousands of dollars.Buy NFT Music, and manufacturers have had to gamble tens of millions of times in the past to get that revenue. Brett Shear is the NFT songwriter who has 45 songs on the platform's catalog. He said in an interview with Time magazine: “Just like you buy a photo for your home, I want to listen and enjoy music. Having it is another thought. "

Buying NFTs is like picking up a real product, allowing fans to get closer to the artist and have rare features.Digital rarity and originality—— Lost in Web2——Use of blockchain,Reduce the business management of the platform by providing new business opportunities..

Fortunately, reporting deficiencies by NFTs does not mean that access to bottom-up media (such as music) is restricted, such as paywalls or paid digital downloads. The real news below NFT is still publicly available and anyone can use it for free. People who think this makes up for the lack of NFT ("Right Click and Save") get all the details.

Remuneration: Support producers by investing, not by succeeding

In a previous “100 True Fans” article, I explained that manufacturers can use their selfish fans to make money at a higher price.By delivering real value and benefits,Manufacturers can make money and live better with fewer fans.:

Web3 takes this idea to the next level.Each token is an investment and can be not only financially viable, but also(Income), and if the token value increases, the keys will benefit as well..Jesse Waldenfinance“(Sponsorship) means:Money profits, an event reported by the tokenized property. In Web2, the meaning of this investment could not be achieved due to the lack of information on members of the chain such as NFTs or social tokens.

Are there any examples of "financial"? Earlier this year, Mario Gabriele on the blogging platform The Generalist Crowdfunded 20 ETH I did. Work for the thesis with them. Crowdfunders received a percentage of the presentations and illustrations, all of which were thrown into the NFT. The affected NFT sold a total of 28.6 ETH, and the crowd allowed them to make a 43% return in just a few weeks.

In addition to money and investments, another advantage is thatMake a team like the spirit(cycle)member. Much of the success and NFT of the crypto space industry is driven by the user's desire to become a member of a particular community, which requires token membership. This describes a phenomenon that I wrote about in the "100 True Fans" article. "People are willing to pay a high price for unique and different content and to engage with a group of like-minded people."

For fans, the revenue potential boosts media makers. Interestingly, this introduces all of the new features in Web2 that were not previously available on Creators Track.L'object. It is important that all of these users have the motivation to help them measure their performance by owning assets that affect their success.

A new programmable economic model

The Truth of the Creative EnterpriseDesign is usually a collaboration.. YouTube creators stream solo videos as artists, musicians draw inspiration from one-on-one work, and TikTok videos often feature work from multiple creators. .

Unfortunately, the Web2 system is not designed to reward or track an integration like this. In the world of win-win algorithmic platforms, the cost often simply falls on the developers, ignoring others involved in the design process. This has led to protests and discontent among the developers, believing that their involvement is not recognized and is not valued.

The promise of tokenization in Web3 means that costs can be fixed so that all the benefits of the partnership (i.e. all participants) can reap. . Early examples include the Mirror and Foundation revenue exchange, which received revenue for multiple locations in Ethereum to support the project.

All digital operations can use media library content, and revenue and profit sharing are automatically included. Nir Kabessa writes about “the memetic business” where ideas can be adapted and ideas presented on the internet can serve as a basis for value creation:

If all the developers except memes are blocked on a channel connected to their site, they can be followed online and the developers can use them to earn money.

DAO and community ownership

We believe that one of the tenets of diversity in creativity is that platforms have too much control over developers and their work through ownership of the design and development of content. The most direct way to oppose this regime ischange who owns the product.

DAO(Decentralized Autonomous Organization)andOther member gatheringsCreate a way to break basic control of the design environment platform.It allows developers to collaborate without an intermediary reporting on the conditions of collaboration.. In the DAO, governance standards are decided by the members and there is no pressure on the income of external members. For example,Creator DaoIn, the owner is also a participant. Someone who creates, distributes, powers and values ​​content.

Can I have decentralizedCreators platformfirst examplevery rare: An NFT store that distributes tokens to artists and collectors on a platform responsible for editing meetings, managing DAO archives, and directing future product launches. Some organizations start with communities and tokens.ElectradaoA community of 42 musicians, visual artists, producers and professionals.

The commitment provided by DAO is to eliminate the need for streamlined procedures and capture stakeholder value. The result is independent and contradictory terms.Developers control their operations, how they are distributed, and how they are measured..

Besides DAO, the integration of Web3 can make shutting down the platform less of a problem than Web2. The atomic unit of Web3 isno account(address), the user can manage the account with a key partner and can access the account with any application or process. Since every smart contract is transparent and can be publicly audited, it is more difficult to complete the obscure and erroneous transaction after the fact. While Web3 is still in its infancy, it is moving towards a more open, design-based approach that benefits both developers and users.

Powerful and creative creator

Since its inception, thinkers and scientists have reported that the internet's perspectives are useful, especially in the media. This utopian vision has not yet appeared. At least not yet.

In the old days, membership was the first disease system, and it all started from there. The members decide on the revival. Decide on your schedule. It decides how and for whom financial matters arise. Over the past decade, we have lived in an era where key players in data, customer relations, content distribution and many fundamental processes are undergoing a technology that benefits. In the meantime, howeverUser creates contentCreation has exploded, making the majority of creators dependent on a small number of new "gatekeepers", causing the economy of creators to expand and become unsustainable.

Fortunately, upcoming innovations reflect a shift in energy equity to developers. withWeb 3——Digital scarcity, fundraising based on investments, programmable business models and community members- An important new feature that we are sending, we are at the end of a new creative renaissance on the Internet. I believe that Web3 has the potential to open up incredible opportunities for anyone involved and created on the internet.The golden age of true meaning that we've been waiting for.