Web3, let’s talk about it. It’s one of the most talked about terms around these days, but as is the case with most innovations, its significance may be ambiguous. Kirby Porter, founder of New Game Labs and PLAY3RS and PLAY3RS, along with Amobi Okugo,
A former professional soccer player and founder of A Frugal Athlete explore the Web3 creator economic upside on the investment platforms like Public.com for Black creators. There are more than 34,000 developers have committed code in Web3 projects by 2021 as per Electric Capital’s 2021 Developer’s Report It’s possible that this could alter the way wealth is portrayed for Black creators of content, in particular because of the decentralization of the internet.
The creator economy, which many believe could soon be driven by a blockchain-enabled internet (Web3) is taking off. There’s a huge distinction between producing content in the Web2 environment as opposed to Web3 as a result of the fact that former platforms and tech companies offer the greatest upside to the content they create through their platforms. With Web3 creators will have greater stakes in this upside.
Porter as well as Okugo are both passionate about supporting athletes and the creation economy.
“We’re living at the intersection of two generational changes: One in technology where this technological revolution is coming, but also for athletes who are subject to NIL rules that have been changed,” Porter said. College athletes now have the ability to use their name images, names, and likeness (NIL) in order to make money while student-athletes.
Web3’s Creator Equity:
In the current economy of creators that is mostly based through Web2 platforms like Instagram, YouTube, and TikTok and TikTok, the racial pay gap is quite evident. Black media creators have a higher chance to be considered micro-influencers, making $27,000 annually on average while white creators are more likely to be mainstream influencers, making $100,000 annually.
CultureBanx revealed that a variety of notable trends that are appearing on social media come from Black creators. But these trends are often remixed, if not co-opted by larger white creators. In these cases the person who initiated a trend isn’t able to reap the same financial upside like the mainstream creators.