According to Cointelegraph, the creator economy, valued at $100 billion, is dominated by centralized platforms that often fail to provide fair compensation to content creators. For instance, YouTube only recently began paying out a small share (45%) of ad revenue from Short videos to creators, while Spotify takes a 30% cut from ad revenue, leaving creators with a mere $0.003 to $0.005 per stream. This, coupled with concerns about data ownership and the lack of sustainable financial models, highlights the need for a decentralized approach that prioritizes users and creators.
Pop Social, a Web3-friendly social media platform, aims to address these issues by combining SocialFi, Web3, and artificial intelligence (AI) to provide fair compensation for creators and reward users for their engagement. The platform diversifies its revenue streams through AdTech revenue, nonfungible token (NFT)-related earnings, Phygital Stores, and Open-API subscription models, ensuring a sustainable financial foundation. Pop Social also emphasizes true content ownership by using on-chain unique profile IDs and allowing users to bring their own IDs from other decentralized protocols.
AI integration enables Pop Social to offer personalized recommendations based on meritocracy rather than popularity, providing a more balanced user experience and preventing the spread of fake news. The platform focuses on social recovery, user-controlled data privacy, and transparent content moderation policies to create a vibrant and inclusive social ecosystem. Pop Labs, an integral part of the Pop Social ecosystem, serves as a launchpad for innovation, driven by generative AI, creator incubation, and project initiatives.
Michael Shen, CEO of Pop Social, envisions a future where Social, Web3, and AI convergence empowers individuals, content creators, and communities through a seamlessly integrated ecosystem. He believes that SocialFi should create an inclusive ecosystem where users, creators, and communities thrive financially while benefiting from a decentralized, transparent, and secure social experience. Pop Social has joined Cointelegraph Accelerator as a participant, showcasing the disruptive potential of Web3-native social decentralized applications (DApps) in the $100 billion creator economy. The platform's founding team consists of experts with substantial experience in the blockchain industry.
