People do not realize what is taking place. We often discuss the difference between Web 2.0 and 3.0. It is amazing to see it is in action.
So far, very few are aware of Web 3.0 along with what it offers. Many are looking to build their following on the traditional platforms like YouTube and Twitter. This article is going to detail one individual's experience with YouTube.
All of us know of the potential pitfalls with traditional social media sites. However, that honestly does not apply to most. The majority of content creators are not posting topics that are controversial, at least from the platform's perspective.
The reality is most engage in perfectly acceptable topics (again from the platform view) in an effort to ultimately monetize their content. With YouTube, it evidently is a long process.
The following video is one person's question to reach monetization on YouTube. If you do not want to watch the video, here is a quick recap.
To become monetized with YouTube, the requirement is 1,000 subscribers and 4,000 hours of video watching. This particular channel is about to cross 4,000 hours yet is still more than 350 subscribers short.
It is a channel that has over 150 videos posted on it.
According to the creator, even getting to monetization doesn't really mean much since "you still make negligible money".
The payout split for ad revenue is 55%/45% once monetization is reached (in favor of YouTube).
Before reaching the required level, YouTube puts up ads from which it keeps 100% of the revenue. The content creators gets none of it. Here is where this individual feels it is unfair considering it hinders the viewer experience yet of no benefit to the channel. The only one benefitting is YouTube.
Even writing all of this, it seems like a marathon. Nevertheless, it is helpful to see the process that one has to endure on YouTube just to get negligible money. We can see how it is a long-term building process but to what end? It is evident why most YouTube channels do not make a significant amount of money for the content creator.
We can easily see how much of an improvement 3Speak is over this present process, at least from a monetization standpoint.
Certainly, one can easily make the case that the number of users is not on this new platform. There is little doubt the masses are on YouTube, the video king of Web 2.0. However, it is hard to ignore the monetary distribution goes to the one single whale.
And people complain about how the rewards are distributed on Web 3.0? Here we have a single whale which takes most of everything.
There is also no debate that those who are monetized on YouTube put in the effort. It evidently is not an overnight process. Unless one has a huge following from another social media channel, the path starts from near zero. Even this creator had a rather large following on his blog, something that did not translate into YouTube followers since there was a demographic difference.
In looking at the New Content page on 3Speak, it looks like most videos received at least negligible money. The majority of the scan was posted in the last 90 minutes. Without delving into each account, we have no idea how long the people were on the platform yet there are going to be some type of payouts in a week.
Now consider this:
What if this YouTuber spent the last 8 months putting together videos and posting them on 3Speak? If this individual had 150 videos on that platform, would he still have a return of ZERO?
The last part is vital. So far, this person made absolutely nothing off his YouTube channel. There is not one single penny that flowed to him. Ponder that for a minute.
Certainly we cannot presume that monetary payout is the sole focus of this individual although the fact he is making a video tracking the progress says it is very important to him. Nevertheless, how different would things be from that perspective if he posted on 3Speak also? Even if he put the videos up a week after release on YouTube, he would still be monetized to a much greater degree.
It is fair to say that, in 8 months time, he would easily surpass his total YouTube earnings of zero.
There will come a point where most of these content creators understand what the situation is. Unfortunately, it appears this YouTuber is not going to be one of the early adopters. He is already familiar with cryptocurrency and seems not to think too highly of it. That might be a mistake.
Leaving him aside, this situation does contrast the different between the two paradigms. Web 2.0 favors, almost exclusively, the platform. There is very little monetarily given to the content creators with nothing really going to the users.
Those who are starting to get a trickle of revenue coming in have to trudge for months before seeing any results. On a Web 3.0 platform like 3Speak, one can receive an upvote on his or her very first video.
Web 3.0 is presenting the opportunity for builders. It is evident this individual is willing to put in the time and effort. He is not taking a short-term approach. There is an understanding that success in this arena is not an overnight process. It is the same approach we tell people to bring to Web 3.0.
However, it might end up that this individual's effort is going to be wasted. What is the timeframe we are looking at before Web 3.0 puts a serious dent in the traditional platforms? It might seem absurd at this time since the usage between the two is so stark. Nevertheless, we can easily see how Web 3.0 is offering a much improved model.
Think of the time people spend on Twitter, Facebook, and YouTube. Naturally, not everyone engages with those sites for monetization. It is safe to say the majority are using them for the social engagement.
Yet, he we see how few are making money on YouTube, the one platform that does share the revenues. People are making nothing off Twitter and Facebook.
That is not the case on a platform like Hive. Through an application like 3Speak, people can get rewarded on their very first video. This also applies to blogging and commenting.
Perhaps we should start to discuss the lifetimes earnings of Web 2.0 versus Web 3.0. Of all the content creators on traditional social media, how many made even a few dollars over the years spent on those platforms? Now contrast that with Hive-based content, most of which gets some type or reward if one is active.
We can presume this individual would have made a lot more money posting 150 videos on 3Speak over the course of 8 months as opposed to focusing exclusively on YouTube.
Most who are already on Web 3.0 not only see it but are living it.
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