...unfortunately, most do not know it.
We are seeing an increase in calls for changes to social media. This is something that many within cryptocurrency have surmised. Tokenization has the ability to change every industry. We are looking at a completely new paradigm.
Sadly, most cannot see past what is in front of them. Even people on Hive are busy trying to build their accounts on social media. It is fascinating how even people who are exposed (and in favor of something) are stuck in the old mindset.
This is true across much of humanity. People simply cannot see another alternative, locking their minds into what they know.
The Creator Economy
That is a headline from an article on Techcrunch. Notice how we are still talking about 19th century solutions to a problem.
People are now upset that social media platforms like Instagram and TikTok are raking in billions yet are not sharing it with the creators. Have these people been living under a rock? Did they not realize that anything they post on those applications is property of the companies?
From that article we get this:
“On Instagram, I’ll have a video hit 900,000 views and make six dollars,” McGoff said. “It’s insulting.”
So this individual feels it is up to these companies to share the advertising revenue with her? Perhaps they should give them nothing and let them leave if they want.
Naturally, we know this isn't going to happen. In Web3, we frequently see people who had their accounts closed on Web 2.0. Do they make a shift and start their business anew? Of course, not. As soon as they get it back, they run back to the same platforms.
Basically, in my mind, these people are volunteering to get screwed and deserve what is coming to them. Those who are unaware of what is being built in Web3 can always defer to ignorance. However, when people are aware of the alternatives yet still show up on the likes of Twitter, then they are responsible for what they get. No longer can they claim to be a victim.
Those who are stuck in the old paradigm are going to pay the price. It is really that simple.
Disruption
Web 3.0 is a disruption like the Internet never saw before. The entire economic model is changing where content creators can be rewarded for the activity they take. In fact, it is a built-in part of the system.
Monetization is at the foundation of every online endeavor. We know the money is there simply by looking at the income statements of these corporations. The problem is that we are dealing with a siloed systems where a handful of companies control most of the pie. They are able to enjoy the benefits that come from network effects along with implementing flywheel structures that enhance their profits.
Instead of complaining about the payouts, perhaps it is time for people to question the entire structure of the internet. Naturally, we know that isn't going to happen since few think past the next football game or television program.
It is a good thing there are people who are thinking about this stuff.
Disruption happens when technology meets the acceptance of the population. It is only after people are wiling to embrace something new that we see an acceleration of adoption. As this occurs, those entities which benefited from the old model start to feel the impact.
Web 3.0 is going to happen. Denying this shift is akin to saying that social media could be stopped. Granted, while it was happening, most of us were oblivious to the transition that was underway. In hindsight, however, it is evident.
The same will happen with this transition.
The Network-State
All of this is leading up to the idea of the Network-State.
These people are already conditioned for it. Look at all those who turn to Twitter for their interaction, news, and entertainment. Over the next year, you are likely to see that become the platform for their payments also as the money transmitter licenses are issued.
Of course, that platform isn't going to hand all the advertising dollars over to the content creators either.
Here is where we see the absurdity for calls of a worker movement. To start, we are already watching a shift in their revenue models. Subscriptions are going to continue to be a larger portion of the revenue stream. This is only going to be enhanced as they roll incorporate the LLMs into the platform. Anyone who wants that technology will end up paying.
The crux of the situation is the fact that users and owners are on separate sides of the equation. This always was the case with both social media and gaming. The platforms are looking to make money, with the users being the product. It has been that way since day 1 of social media.
Since users have no stake, they is a disconnect from the performance of the platform. Network-States change this since it aligns the users with owners since they are the same. Those who are holding the coins have an vested financial interest in where things go.
This is the new paradigm. Web 3.0 is offering digital ownership. These new social media platforms are being built upon decentralized networks. This is compounded by the fact that ownership stake is distributed in the forms of rewards. Even those on Web 2.0 are not asking for a stake.
Technology always outpaces human ability to embrace it. The mind is the hardest thing in the world to change. This is something most of us are aware of.
When people are conditioned to open up their X or Facebook application each morning, what do you think they are going to do? Changing that behavior is very difficult.
Of course, those that do it are going to be ahead of the curve. Over the next 3 years, there will be a massive shift away from the traditional social media platforms as people start to question the models. With the buildout of Web 3.0, we are seeing a new structure emerging.
The established social media platforms are going to be as relevant as the old 1980s party lines are today. They were a thing 35 years ago but are no more. Technology made them obsolete.
In the future, it is going to be absurd to use anything that you do not have stake in. Sadly, for most, it is going to be a spell before they realize it.