A rash of new start-ups are making it easier for digital creators to monetize every aspect of their life — down to what they eat, who they hang out with and who they respond to on TikTok.
Tens of millions of people around the globe consider themselves creators, and the creator economy represents the “fastest-growing type of small business,” according to a 2020 report by the venture capital firm SignalFire.
But as the market gets more and more competitive — and the platforms and their algorithms remain unreliable — creators are devising new, hyper-specific revenue streams.
One comes in the form of NewNew, a start-up in Los Angeles, that describes its product as creating a “human stock market.” On the app, fans pay to vote in polls to control some of a creator’s day-to-day decisions.
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Recently, a platform called PearPop has become popular for allowing fans to pay for interactions with their idols on social media. For $250, for instance, the TikTok star Griffin Johnson will comment on your video. If you don’t have $250 to spare, you can offer your best bid.
“Monetizing your social presence has traditionally only been accessible to those with a large following that can secure big brand deals,” said Cole Mason, the co-founder and chief executive of PearPop. “This is no longer the case. The idea for PearPop democratizes creator monetization by providing something that makes a lot of sense for creators with 10,000 followers and 10 million followers alike.”
Stir, is seeking to help creators split money for videos they make together.
“We think the future of creator monetization is collaboration,” said Joseph Albanese, the C.E.O. and a founder of Stir. “We let creators take any place they make money, whether it’s a YouTube video or Shopify store, and split the revenue with other creators.”
The crypto world has also proved enticing for creators looking to monetize interactions.
Rally.io, a crypto platform, allows creators to start their own digital currency in order to build independent economies with their fans. Fans can purchase the creator’s currency and use it to unlock exclusive or unreleased content.
The Clubhouse star Bomani X has begun offering his own $BOO Coin currency and the Twitch creator FanHOTS has introduced $FAN Coin; fans who hold the coin can use it to choose which character he will play in online games.