On popular social media platforms such as Instagram, Facebook, YouTube, Twitter and Snapchat there is a revolution in the amount of original content that is shared or displayed, and it is no surprise that these platforms are power houses of content worth a lot of money.
Some influencers earn quite a lot for their content as millions of users engage social media, most especially when they make partnerships with social media companies and use their marketing offers. However, not all content creators are that lucky when it comes to monetizing their content.
There are a lot of amazing content creators who are not able to monetize the content that they create and some end up investing in paid ads in order to get their message across and earn more revenue. This honestly doesn’t seem to be enough to cover all their content creation and distribution expenses.
With blockchain, creators can access a wide range of profitable possibilities that social media channels cannot afford them. Exzie is already taking advantage of blockchain technology to help creators get royalty advance for their work, by leasing their copyright at an agreed price to investors and entertainment executives who also earn royalties during the lease period.
Blockchain is a circulated, shared, decentralized, fixed ledger; sometimes referred to as distributed ledger technology (DLT) that validates or enhances transparency in documenting contracts, and allows for tracing of properties or assets. It is a decentralized public framework where every single piece of content is immediately certified and given a unique identification, as well as a timestamp.
You can read our article on Blockchain Solutions for the Creative Industry here. Also we have shared below some ways content creators monetize their content using blockchain.
Speaking of transactions on the blockchain, they are virtually based on smart contracts and these contracts rely on codes. What content creators are expected to do is create a particular smart contract and set their usage policies for every piece of their content.
Whenever someone wants to download their content or repurpose it, they will have to select a particular usage policy, that is the smart contract set by the content creator and persons in need of the content makes payment, this way a content creator monetizes their content.