The Future of Social Media: How Decentralized Apps Are Rewriting the Creator Economy
The social media landscape is on the verge of a massive shift. While the giants like TikTok and Facebook still dominate, a new wave of platforms, powered by blockchain technology and designed with creators in mind, are poised to disrupt the status quo. One of the most promising newcomers, Own, is launching its beta, and its arrival signals a potential revolution in how creators are compensated and how they control their content.
Own: A Deep Dive into Decentralized Social Media
Own isn’t just another TikTok clone. This new platform, developed by Amir Kaltak (CEO), Katia Zaitsev (COO), and Sarah Mick (CCO), takes a decidedly different approach. It offers a swipeable feed for videos, images, and text posts, combined with features like direct messaging – standard social media fare. However, Own sets itself apart by leveraging **blockchain technology** and a tokenized economy.
The Power of the $OWN Token
The core of Own’s appeal lies in its $OWN Token. Creators earn these tokens based on their content’s engagement, and the tokens are fully tradeable. This model eliminates the barriers to monetization that many creators face on traditional platforms, particularly those in regions with limited access to established payment systems. The platform also provides additional monetization options like tipping, brand sponsorships, and an in-app shop, offering creators the potential to earn significantly more than they currently do. For instance, creators on Own keep 95% of revenue from Own Shops, compared to the potentially high platform cuts on other platforms.
Monetization Beyond Borders
One of the biggest advantages Own offers is the ability for creators to monetize their content regardless of their location. According to Kaltak, the platform is designed to “level the playing field and opens up real earning potential for creators globally.” This is a crucial distinction, as many creators worldwide are locked out of traditional monetization opportunities.
How Own Works: A Look Under the Hood
Own operates on the Base Layer 2 blockchain, ensuring secure transactions and content ownership. This focus on ownership is a key differentiator. Creators retain control over their content and can license it to brands for marketing campaigns, earning a substantial 90% of the revenue, while Own takes only a 10% cut. This addresses a core issue of the current social media landscape where content creators often lack adequate control and ownership of their work.
The Ranking System: A Community-Driven Approach
Own introduces a Reddit-style ranking system. Users can upvote or downvote content, and creators with more upvotes climb the leaderboard, increasing their exposure. This community-driven approach, combined with the focus on content ownership, helps foster a more creator-centric environment.
The Competitive Landscape
Own is entering a crowded market. However, its decentralized approach and focus on creator empowerment set it apart. Competitors like TikTok and even newer platforms like Chingari, which has had success with its short-form videos in India, offer different takes on content creation and monetization, but Own’s unique tokenomic structure could give it a significant edge. In this evolving market, [research from a reputable source about the current market for short video apps and its projected growth](https://www.statista.com/outlook/dmo/social-networks/short-form-video/worldwide) would be valuable in assessing the opportunities and challenges ahead.
Future Implications: What Does This Mean for You?
The rise of platforms like Own has significant implications for both creators and consumers. Creators stand to gain greater control over their content, more equitable monetization, and the ability to connect directly with their audiences. Consumers, in turn, can expect a more transparent and creator-friendly environment. This shift also challenges traditional social media’s dominance, forcing larger platforms to adapt or risk losing their user base.
Actionable Insights: What You Can Do Now
For creators, exploring decentralized platforms like Own is a smart move. Stay informed about the latest developments in Web3 and the creator economy. Experiment with different monetization models. For consumers, supporting creators on these emerging platforms contributes to a more sustainable and equitable digital landscape. Look at emerging platforms and what they offer, and be sure to have the right equipment when producing content.
The launch of Own is a pivotal moment in the evolution of social media. Its innovative approach to content creation and monetization is not just another social media trend; it’s a potential paradigm shift. What are your predictions for the future of the creator economy?
