Blockchain technology is creating an interesting and ever-changing world.

According to a report by Bloomberg Business, creators are heading to blockchain based platforms like Steem, LBRY and DTube to embrace new monetary models and audience members.

For instance, DTube, a blockchain-platforms that mimic YouTube, allows users to monetize their content through direct contributions rather than ad revenue.

Bloomberg highlights an example of Peter “Furious Pete” Czerwinski, who has close to 5 million YouTube followers, but they can’t see most of his new videos on YouTube anymore. To get 46 of the 71 weightlifting and competitive-eating videos he’s posted in the past two months, fans have to use DTube.

It looks a lot like YouTube, but video creators rely on donations from viewers instead of ad revenue, and the site’s moderators rarely try to censor potentially offensive material.

“The less centralized platforms keep more power—and potentially, privacy—in the hands of creators and users”, says Ned Scott, who runs the Steem-based social network Steemit.
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Naomi Brockwell, who produces crypto-related videos, says she’s already making an average of $40 a video in Steem tokens, an amount that would take her couple of months to reach on YouTube. Brockwell says she needs to find alternatives to the name-brand social networks as they phase out ads on her videos.

“I don’t think this is about protection,” she says. “This is about control.

 

Two-year-old Steemit has about a million accounts and added some 120,000 last month, according to Scott. Rival LBRY has about 600,000 registered users.

Over 61,000 people use Steemit on a daily basis. This number may seem microscopic compared to a traditional platform like Facebook with hundreds of millions of daily users but this is quite respectable seeing that just 3 months ago that number was half the current number.

It is clear to see why Steemit has been picking up a lot of steam with requests to sign up for their platform skyrocketing recently. More and more content is being created there with high quality and in-depth content becoming a normality.

Similar projects are also being undertaken for other types of content such as music. The introduction of smart contracts through the blockchain allows for real-world assets and intellectual property to be tokenized and traded. Even physical works of art can be tokenized and sold through blockchain marketplaces.

Some platform creators say the big names are tarnished enough that there’s an opportunity for new ones.

Until now, I’m not sure people realized just how valuable their personal data is,

says Dan Novaes, co-founder and CEO of Current, a blockchain-based streaming site.

With blockchain, people will finally have the chance to be rewarded for their time, attention, and data. No longer will their valuable data be controlled by a few giant companies.

1 COMMENT

  1. Correction: content creators earn money from simply being upvoted on dtube/ steemit. no need for anyone to donate anything apart from their attention and appreciation.

    this is a huge game-changer, and the reason why many of us now publish content to the blockchain

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