There have been many reports of influencers doing crazy things for money. There are very few influencers out there that can move the price of a meme cryptocurrency 200% with a few tweets (i.e. Elon Musk). However, the majority of influencers can sell a few products every so often. So how can a creator make a solid living with sporadic income from advertising, affiliate marketing, or sponsorships? What if one could sell optionality? What if you could sell the ability to control your actions or the potential upside in your life? It seems like an episode of Black Mirror or simply 2021.
New startups have popped up giving creators new ways to monetize their influence and make money. From selling decisions or actions to selling economies or actual upside these new platforms help creators monetize their followings.
What if you could sell votes similar to a proxy vote in a publicly traded company? LA based start up NewNew wants to do just that. Fans pay to vote on certain decisions during a creator’s day. NewNew lets creators post polls on various decisions and fans can then purchase voting power which can then influence the influencer’s choices.
As fans continue to demand more and more content, NewNew is allowing the creator to monetize their fame without the challenge of creating more original content. As CEO and founder Courtne Smith states, “It doesn’t matter how boring you think you are, there’s someone out there who would find your life interesting to the point that they’re willing to pay.”
PearPop is Cameo for social media interactions. Ever get excited if an influencer or star comments or likes your post? Now you can pay for those interactions. Influencers and creators set their pricing for various actions (comments, likes, shares) or you can make an offer and get one of your favorites to interact with you on social media.
Why stop there? What if you could be your own sovereign nation? At least one with your own economy? Enter Rally.io which is reminiscent of the days of the ICO (Initial Coin Offering whereby companies issue new cryptocurrency, if the company does well the cryptocurrency becomes more valuable, the only real ICO that is still around today is Ethereum). Influencers can create their own digital token which fans would use to unlock exclusive premium content. The influencer would act as the Federal Reserve, inflating or deflating their money to their liking.
Not sure about any of these things? What if you just knew that an influencer was going to take off? Similar to sports cards, stocks, and art, Clout Market lets you buy “stock” of influences. The NFTs on Clout Market allow fans to buy these collectibles and make money on those that get embroiled in scandal or become famous. After all, as fans, you are the ones that make the creators so shouldn’t you be entitled to some of the pie?
The creator economy has evolved drastically from the days of Patreon “tipping” to OnlyFans subscriptions to Famecast’s end to end solutions to now direct ownership of action, whether you buy votes (NewNew), buy actions (PearPop), invest in currency (Rally.io), or buy potential upside (Clout Market). Where do you think this goes? Will any of these platforms extend beyond the experimental phase? Are we missing anything that you’ve seen that is pushing the boundaries?
I can see how there could be some questionable actions that take place that creators can say were “crowdsourced.” Yet at the same time, creators do need to draw a line in terms of what actions they will and won’t do. NewNew does remove questionable, violent, hate-driven polls, for example.
Let us know what you think via email!