Greater than 50 million individuals worldwide take into account themselves to be creators of some type of content material. The content material creator financial system is a fast-evolving market area of interest that’s experiencing exponential development. Its present measurement is estimated to be a bit over $100 billion, exhibiting an 8-fold improve year-on-year. This new financial sector requires new approaches and devices, as massive company platforms train nice energy over the creators’ content material, and private web sites and blogs have restricted attain.
The issue with Net 2.0
Within the present state of the Web, generally known as Net 2.0, content material is saved on a specific server or pc and accessed by way of an internet tackle generally known as a URL, or Uniform Useful resource Locator, that specifies its location on a pc community and a mechanism for retrieving it. Because of this the proprietor of the pc or the server the place content material is saved has full management over whether or not and the way it may be accessed and might restrict entry and even delete content material at any time.
At current, if the creators of video content material, pictures, or blogs need to get their materials out into the world, they’ve little selection however to submit it on main social community platforms like Alphabet’s YouTube, Meta’s Fb and Instagram, TikTok, Pinterest, Tumblr, Snapchat, and the like. Whereas this offers entry to large audiences, this profit comes with main drawbacks.
It is because all content material is saved and hosted on these Large Tech firms’ central servers, which these company behemoths have full management of, and creators should quit a substantial amount of energy over their content material to place it there. At any time and at their very own discretion, these social media giants can block any content material they dislike or deprive creators of the flexibility to earn cash from it. The platform has no authorized obligations to the creators, so creators don’t have any proper to say damages. All income generated by the creators’ content material is collected and distributed by the community, and creators don’t have any say as to what share they’ll obtain. This disparity by way of energy and income places content material creators at an awesome drawback.
Might Net 3.0 be the reply?
The reply to this conundrum will be the third iteration of the web: Net 3.0
Net 3.0 represents a complete new stage of growth for the web, during which working with net content material will likely be organized in a very completely different manner. It’s primarily based on decentralizing content material by storing knowledge not on only one central server, however distributing it amongst many computer systems, or nodes, in a P2P (peer-to-peer) community with the assistance of blockchain know-how. On this manner, content material is not held hostage in massive company knowledge facilities, and massive companies and authorities authorities lose their skill to dictate if or how it may be used.
Net 3.0 technologically eliminates the monopoly of Net 2.0 platforms and returns possession of content material to the creators themselves. This may essentially change the way in which creators produce and handle their content material whereas offering them with higher alternatives to revenue from their work.
Shifting into the longer term
Whereas Net 2.0 platforms have demonstrated their business worth, their drawbacks have gotten more and more obvious. Delivering content material by way of Net 3.0-based platforms could be the perfect reply to the issues creators at present face when coping with faceless companies. That is significantly true for creators of video content material, whose work could also be arbitrarily censored, restricted, or demonetized.
One such answer is a brand new utility referred to as FavorTube, which is a Net 3.0 media-streaming platform providing real-time, consumer-grade HD video playback and full lifecycle providers for content material creation. It connects content material creators, customers, and followers in a single decentralized platform that’s clear, honest, and anti-censorship, the place all customers profit.
With FavorTube, content material creators produce and add movies and earn income when customers subscribe to their channels or content material. Income from shopper views of advertisements on the platform is routinely distributed amongst creators, the platform, and viewers by way of good contracts. A number of types of NFTs (everlasting membership, crowdfunding) could be issued with one click on, and income from channels or content material is routinely distributed to NTF holders. Entry to content material is permitted on the P2P community, which protects the rights and pursuits of business movies. Randomly assigned DAO (decentralized autonomous group) auditors from the FavorTube group monitor content material and might ban materials deemed to be inappropriate.
FavorTube makes use of its personal protocol stack, dubbed FavorX, as decentralized storage and content material distribution underlayer. Whereas some initiatives have already carried out theoretical exploration and technological R&D on this space, FavorTube is the primary media-streaming platform to implement full decentralization for file storage, content material distribution, knowledge retrieval, and buy transactions. Its out-of-the-box desktop and cell functions are immediately linked to the blockchain on cell terminals by way of P2P networks whose efficiency will increase as the dimensions of the community expands. FavorTube can also be the primary absolutely decentralized utility venture to assist the usage of cell terminals immediately linked with out gateways on an anti-censorship and globally accessible streaming platform.
FavorTube takes the underlying ideas of comparable Net 2.0 platforms however discards the monopolistic practices they use to generate extra income, thus creating a brand new enterprise mannequin for content material creation and income distribution by harnessing the decentralized monetary traits of blockchain. Its decentralized storage and content material distribution capabilities flip the ability relationship between content material creators, customers, and content material show platforms on its head to implement the elemental concept behind Net 3.0 – that knowledge is owned by customers
This represents a multi-dimensional leap over current Net 2.0 content material creation platforms, from the technical basis to the enterprise mannequin, and offers content material creators and customers with an anti-censorship, high-yield, and autonomously rising utility platform, which would be the first blockchain utility venture to use the business worth of Net 3.0.
As Net 3.0 develops, there is no such thing as a doubt that different initiatives will emerge and comply with within the footsteps of this ground-breaking venture, as content material creators more and more hunt down new platforms the place they will show and revenue from their work freely and pretty, with out the ever-present oversight of Large Brother companies.
