The rise of social media has opened the door for everyone to become a content creator, but the creator economy has continued to decline as centralized platforms dominate the $100 billion market, leaving creators with little compensation.
For example, YouTube only recently started sharing a small portion (45%) of ad revenue from Short videos with creators. Spotify also takes a 30% cut from ad revenue, leaving creators with only $0.003 to $0.005 per stream to share with rights holders and publishers.
Concerns about data ownership and sustainable financial models highlight the need for a decentralized approach to the creator economy, placing users and creators at the center.
Web3 social media that prioritizes users and creators
Pop Social, a Web3-friendly social media platform, combines SocialFi, Web3, and AI to address the key challenges faced by content creators, offering fair compensation and rewarding user engagement. The platform diversifies its revenue streams with AdTech revenue, NFT-related earnings, Phygital Stores, and Open-API subscription models for a sustainable financial foundation.
By using unique on-chain profile IDs and enabling users to bring their own IDs from other decentralized protocols, Pop Social prioritizes true content ownership. AI integration provides personalized recommendations based on meritocracy rather than popularity, creating a more balanced user experience and preventing fake news. The platform aims for social recovery, user-controlled data privacy, and transparent content moderation policies.
Pop Labs, an integral part of the Pop Social ecosystem, drives innovation through generative AI, creator incubation, and project initiatives.
“We envision a future where the convergence of Social, Web3, and AI redefines our interactions, creation, and growth in the digital realm,” said Michael Shen, CEO of Pop Social. “Our vision focuses on empowering individuals, content creators, and communities through an integrated ecosystem.”
“SocialFi should create an inclusive ecosystem where users, creators, and communities thrive financially in a decentralized, transparent, and secure social experience.”
Cointelegraph Accelerator welcomes Pop Social as a participant in its promising projects, recognizing the disruptive potential of Web3-native social DApps in the $100 billion creator economy. With active users and app downloads, Pop Social’s founding team brings substantial experience in the blockchain industry.