Social Tokens and the Future of the Creator Economy Powered by Roll
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The creator economy is one of the hottest phenomenons of the digital age. With the evolution of social platforms from Facebook to Instagram to Tik Tok gaining traction, the opportunity to pursue content creation has become alluring. According to a report by InsightSLICE, the content creation market is expected to reach 38.2 billion dollars by 2030 with a 12% CAGR. Additionally, according to Influencer Marketing Hub, 50 million people are active content creators. It can be inferred that the interest in creating content stems from headliners like Khaby Lam making millions of dollars and having millions of followers. One key hurdle for content creators is the ability to monetize, which is a problem that could be suited for a web3 solution. One of the ways that content creators can monetize in a web3 environment is through the use of social tokens, which is what Roll allows its users to do.
To take a step back, social tokens allow content creators to extract value from their communities. By owning a token, a creator’s fanbase becomes very invested in their success which breeds a greater sense of loyalty. Additionally, the creator can then create custom experiences or rewards to continue to earn the loyalty and interest of their supporters. Harrison First, a musician using Roll, uses his social token, $FIRST, to create exclusive content for his fans such as a private SoundCloud link, and giving token holders the ability to hear unreleased music. Ultimately, the social token allows the fans and the creators to both receive value from the relationship.
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