YouTube, Instagram, and TikTok are some of the most popular platforms for content creators to express themselves, build a community, and ultimately generate revenue. However, as 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 about user-generated content, increased interconnectivity, and social interaction. People have been able to use Web 2.0 to generate forms of income: from subletting their houses, selling their goods and services, and promoting brands through their YouTube channel or Instagram. But Web 2.0 has also shown its dark side, evidenced by Facebook’s Cambridge Analytica data scandal.
Web 3.0 has all the benefits of Web 2.0, but has more 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 via blockchain technology and cannot be tampered with by one organization. single entity. Web 3.0 is also more interactive, with technology like AI and machine learning at the forefront. Web 3.0 also introduces tokenization, which means that people can tokenize many forms of assets on the blockchain.
For the content creator, Web 2.0 has some drawbacks. First of all, it’s hard for any new YouTuber to figure out the platform’s algorithm and boast initial views, regardless of the quality of the content they produce. YouTube’s algorithm is inherently biased towards channels with the most views and subscribers.
While content creators can eventually make money from YouTube and ads once they reach a certain number of views on their videos, the platform is limited to providing content creators with alternative means of generating revenue. If content creators were allowed to tokenize their content and brand, they could generate more revenue.
Leading the Web 3.0 Content Creator Revolution: XCAD
XCAD allows the tokenization of YouTubers. XCAD allows content creators to create their own token that their fans can buy or earn by watching their videos. XCAD has a plugin in Google Chrome that automatically earns fans creator tokens just by watching their favorite YouTuber’s content. Unlike anything seen before, XCAD allows creators and viewers to be rewarded. For content creators, this system enables revenue generation through tokenization, additional views to earn more revenue from the YouTube platform’s algorithmic reward system, and allows them to reward their fans for viewing their content while engaging them more. . Fans can use these Creator Tokens to get closer to their favorite YouTuber. Holding them could grant fans access to events, private groups, and even video collaborations with the YouTuber.
In addition to tokenization, within the XCAD roadmap is a plan to allow content creators to mint their own unique NFTs that their fans can purchase. Fans will be able to purchase NFTs from the content creator via the content creator token or the XCAD token. Creators can offer NFT “moments”, which are essentially a collection of video creator moments, with the most iconic moments being rare and most valuable.
Platforms like XCAD are inevitably the way to go and the project has a bright road ahead of it.
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