What would a Creator Economy look like in the decentralized Web3?
OVER's seventh ARwards brought together international 3D creators in a 3-month competition to showcase venue design projects to seven leading Web3 judges.?
The ARwards highlight emerging metaverse creators and provide a platform for developing a new creator economy in Web3.
Media innovations drive economic shifts.
The term "Creator Economy" was first coined in 2015 by futurist Paul Saffo, who said: "We invent new technologies and then use them to reinvent ourselves."
During a recent Twitter Space, we asked the OVER ARwards panel judges the following question: What would a creator economy look like in the decentralized Web3??
?"The idea of Web 3 is community, the community is Web3. This concept of digital ownership which is shepherded in by blockchain and the likes of these newer L1 networks that are popping up .. you can be rewarded for your contributions on an individual level for something bigger and beautiful, such as new projects like OVER. Creators are the ones that bring projects to fruition.” - Ian Mukherjee , Co-Founder & CPO, Parcel .?
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"The democratization of the creator economy will allow all creators the opportunity to find work and provide them with the infrastructure and tools to earn a living. In addition, the creator economy (in Web3) is something that stimulates itself, something that is self-sustaining," said Bryan Temin , Head of Business Development, SandStorm .
"The creator economy in Web 3 empowers the artist and the creator. People can reach artists directly, and artists can reach audiences directly. Artists have the power to really manage their own fate in Web3," according to Gwendall Esnault , Founder and CEO, Metahood .
Creators build the platform.
Diego Di Tommaso , OVER Co-founder, and COO, confirmed that creators build the platform itself.
"The idea of Web3 that allows people to own unique digital assets and sell them, is something that is changing the paradigm of the industry. There are no more gatekeepers. Some of the assets that people build on OVER can be transposed to other platforms. There’s really a power shift between creators and the brands or the platforms that extract all the value from the creators.”
Listen to the Twitter Space recording to hear more about what was discussed