The evolution of the creator economy and how CoinDogg fits in.
One of the most significant cultural evolutions of the past ten years is the expansion of the creator economy. This growth has seen the creator economy expand from just an elite few to more than 58 million creators worldwide including an expanse of Instagram influencers, home chefs, podcasters, YouTubers, streamers, and more.
The growth in the sector can largely be attributable to the widespread adoption of smartphones, long-term increase in digital advertising spend, and the rapid growth of behemoth Web 2.0 platforms like YouTube, Instagram, and Facebook. The industry globally now represents more than $38 billion USD in annual economic value and continues to grow quickly. Sure, there have been creators for many years showcasing their passions but it wasn’t until the aforementioned changes happened until the world saw creators able to take up their passions on a widespread professional scale.
The growth of the creator economy has not been all sunshine and rainbows, however, as many professional creators found out the hard way during the Covid-19. During the pandemic businesses globally cut their advertising spend in preparation for the expected economic storm which in turn crippled the creator economy who relied on advertising revenue as their primary, if not sole, source of income.
The devastation of the pandemic left millions of creators globally reassessing their options and looking for alternative ways to monetize their passion and to leverage the loyal army of followers they had each built up. This included many creators who looked to subscription models for their businesses and have moved to lock away their content behind paywalls on closed media platforms like Patreon and OnlyFans.
While closed media platforms certainly do provide some benefits for creators, there are still some significant drawbacks for those that chose to use these platforms including; limiting the ability of creators to engage new fans to grow their audience and the continued reliance on highly centralized platform web 2.0 platforms. It is these drawbacks and understanding the needs of creators which has helped drive CoinDogg’s mission.
CoinDogg is looking to a fully decentralized and open world where creators can monetize their content in any currency on any platform by directly engaging with their fans and without locking their content behind paywalls.
In the short term, we envision the world where this exists to be where creators seek to collect donations from their fans to supplement ad revenues and reward them in the form of tradable NFTs. You can read more about CoinDogg’s near-term plans in the whitepaper here and screenshots of our planned donation widget below.
In the longer term when the use cases of NFTs become even more widely adopted and accepted we expect to see a world where the NFTs themselves are the primary means of delivering all forms of creator generated content and double as the direct means of transacting without the need for any centralized third party.
While the ultimate vision of CoinDogg is some way off being fully realized we think the question is not a matter of “if” but “when” this will occur, and in the meantime, the team behind the CoinDogg project are making more progress every day.
We’re currently seeking creators who are aligned with our vision and are interested in joining our early adopter's program ahead of our public product launch. If you or someone you know is a creator, join our early adopter's list below.
If you’re not a creator but share in the vision behind the CoinDogg project then you may wish to participate in the CoinDogg token sale happening on Exmarkets.com.