Social media’s ascendancy has irrevocably changed the way content is created and consumed. It has opened up space for important conversations around fair compensation for creators. TikTok, with its massive reach, has become a dominant platform, but its monetization model leaves many creators feeling shortchanged. Own, a new decentralized social media platform, is emerging as a potential disruptor, promising a more equitable system for creators. This article discusses Own’s tokenomics. It explores how each of these factors might impact creator earnings, incentivize platform onboarding, and influence the trajectory of decentralized social media’s future.

Own's Creator Monetization Model

Own’s founders own creator monetization space with their blockchain powered solution. Where conventional platforms extract generally 40-60% of creator revenue, Own’s model is radically more creator-centric. Several key features define Own's monetization model:

  • Tipping: On Own, creators retain 80% of the tips they receive, a considerable improvement over TikTok's 50%.
  • Brand Sponsorships: Own creators keep 90% of brand sponsorships, providing a more lucrative avenue for collaborations.
  • Own Shop: Similar to TikTok Shop, Own Shop allows creators to sell merchandise directly to their audience, with creators keeping 95% of the revenue.
  • Content Licensing: When licensing videos to brands on Own, creators retain 90% of the earnings.

This creator-first model goes to the heart of why so many creators are frustrated by platforms that they see as taking too much value. By offering a greater cut of the revenue, Own motivates creators to sign up and engage with the platform.

Tokenizing IP Assets

Own’s trading platform creates simple and transparent IP asset trades. This recent acceleration is immensely helpful in getting owners their funds sooner from their IP. The benefits of this include:

  • Easy Trading: IP assets are simpler to buy and sell, allowing owners to get money from their IP faster.
  • Simple Royalties: Automated payments and licensing, reducing the work to manage IP rights.
  • Funding Ideas: New ways to make money from IP, providing more support for new inventions.
  • Worldwide Access: IP can be traded globally, increasing the number of buyers and sellers for IP.
  • Safe Records: Clear, unchangeable transaction history, reducing disputes and lower costs.

Decentralized Social Media: Opportunities and Challenges

Own’s tokenomics present an enticing new option compared to TikTok, decentralized social media platforms have a steep hill to climb.

Challenges of Decentralized Platforms

  • Scalability and Network Performance: Scalability remains a significant hurdle for decentralized social media platforms. As user bases grow, maintaining optimal performance and seamless user experiences becomes increasingly complex. Poor scalability can hinder content delivery and creator reach, potentially impacting platform adoption.
  • Understanding and Adapting to New Monetization Models: Creators accustomed to traditional advertising or platform revenue-sharing schemes may find it challenging to navigate new monetization models such as tokenizing content or community-driven governance. Education and support are crucial to help creators adapt to these new approaches.
  • Content Moderation and Community Guidelines: Decentralized platforms often rely on community-driven moderation policies, which can be confusing for creators accustomed to centralized guidelines. Establishing clear and consistent moderation standards is essential to ensure a safe and inclusive environment for all users.
  • Data Sovereignty and Control: While decentralized platforms empower users with control over their data, creators may encounter difficulties managing their data and preventing misuse or exploitation. Robust data management tools and educational resources are necessary to address these concerns.
  • Discoverability and Audience Engagement: Creators may need to adjust their strategies to reach their audience and maintain engagement on a decentralized platform. Algorithms and content discovery mechanisms may differ significantly from those used by TikTok, requiring creators to experiment with new tactics to maximize visibility.

Opportunities of Decentralized Platforms

Decentralized social media platforms do represent some pretty exciting possibilities for creators and users.

  • Increased control over data: With Own, creators may have more control over their data, allowing them to access and use it as they see fit, rather than relying on social media platforms or third-party services.
  • More equitable earnings distribution: By giving creators more control over their data and content, Own could help reduce the concentration of profits among top creators and traditional gatekeepers, potentially leading to a more equitable distribution of earnings.
  • Diverse storytelling and free expression: Own's focus on narrative change, diverse storytelling, and free expression could lead to a more diverse and inclusive creator economy, where more creators from underrepresented groups can succeed.
  • New investment opportunities: Own's emphasis on impact investing in the creator economy could attract new investors and capital to the space, potentially leading to more opportunities for creators to monetize their content.
  • Data ownership and control: Decentralized social media platforms like diaspora* give users control over their data, allowing them to own and manage their information.
  • Resistance to censorship: Decentralized platforms offer resistance to censorship, enabling users to express themselves freely without fear of content removal or account suspension.

The success of Own and other decentralized platforms will depend on their capacity to address these challenges. They need to capitalize on the inherent opportunities these platforms offer. Decentralized social media holds vast potential to change the future of content creation and consumption. It does this by deeply centering creator empowerment, data sovereignty and community governance.