Of the 4.2 billion social media users worldwide, 200 million consider themselves creators. However, the vast majority (139 million) have 10,000 or fewer followers. 75% of the people in the community earn less than $1,000 a year from their work.
The creator economy in Web 2.0 has failed to reward creators fairly for their work. Social media platforms, such as Instagram and YouTube, exert significant control over the content shared on their platforms. As a result, creators do not have ownership over their content once it has been uploaded to these platforms.
Creators face an uphill battle
What has been exacerbating the above dilemma is the rise of TikTok. Now algorithms, rather than human beings, increasingly control how content is discovered on social media platforms. This means that many people may miss out on lots of high-quality content, and creators may not be able to establish meaningful connections with their audiences.
Additionally, social media platforms often profit from the content shared without providing fair compensation to the creators of that content. For example, YouTube only shares around 30% of its advertising revenue with creators, which is already considered quite generous among tech giants. This can be incredibly frustrating for creators who put a great deal of time and effort into producing high-quality content only to see little or no financial return.
Converting content into digital assets
To solve this problem, Nfinity Mint proposes using digital collectibles and NFT-based communities. By converting existing content into digital assets, creators can retain ownership and control over their work. Nfinity's easy-to-use and powerful platform can help creators achieve this quickly and hassle-free.
Nfinity Mint helps merchants make NFTs in bulk and gives them tools for managing and making money after the sale, like loyalty programs and ticketing, for the entire lifecycle of an NFT.
Nfinity Mint allows users to create, publish, and promote their NFT collections with minimum hassle, enabling them to manage their native community effortlessly.
Influencers and brands can use the "unlockable" feature to airdrop special perks and upsell additional goods and services based on their issued NFTs.
Helping creators monetize the content
Nfinity Inc. is a team of financial and tech professionals from financial and internet institutions such as Millennium, Goldman Sachs, Crypto.com, Tencent, Alibaba, and Huobi.
Nfinity Mint is a uniquely positioned one-stop solution for digital collectible creation and management, with additional NFT-based features such as tiered loyalty programs and tokengating. While Nifinity App is the consumer-facing mobile platform for fans to support and stay close to their favorite creators and digital communities.
In summary, the creator economy in Web 2.0 has failed to reward creators for their work fairly. By using digital collectibles and NFT-based communities, creators can retain ownership and control over their content and establish more meaningful connections with their audiences. Nfinity's platform can help make this process easier and more accessible.
Nfinity Mint provides a step toward a better, more empowered, and less restricted future for those seeking to add value to the world. It is time to move away from Web2 monoliths, and all members and beneficiaries of the creator economy now have the means and standards to do it.