1000 True Fans Will Make You Rich

Fine, the title is a bit clickbaity but while I have you here, allow me to explain.

A decade ago, Wired editor Kevin Kelly predicted that creators of every niche can profit off their creations with 1000 true fans. Fans are active members of their community and are willing to buy anything they produce that is of value.

Fast forward to today, this idea is reality. Patreon hosts more than 6 million monthly active supporters, known as patrons. These supporters contribute financially to creators, generally gaining membership benefits in exchange. More than 210,000 creators are supported by at least 1 patron.

But the drawback is that one cannot start on Patreon and expect to see money, they have to diversify to it as another source of income. Also, only the top 1% of YouTube creators make minimum wage, and only 3% of Patreon creators make minimum wage.

The discussion about the future of the Creator Economy and the solution to this very problem has people looking towards what Blockchain and Tokenization can bring to the table.

I like to say that the Passion Economy walked so the Creator Economy could run. Aspiring creators no longer have to be put off by the idea or assume that they have to create content consistently for years before they see any money from it.

Web 3.0 can provide creators with a platform to take full ownership of their content, distribution, and their community. Their community in turn can actively participate in their growth and profit from it.

Imagine if you had invested in Mr. Beast when he was just good ol’ Jimmy with wild ideas?

Let me know what you think!