Take content creation and consumption to Blockchain with Watch2Earn
It's amazing how dynamic the blockchain landscape is. Since bursting onto the scene over a decade ago, blockchain has evolved by leaps and bounds. Advancing with blockchain technology is the digital landscape, which is constantly reshaping how we interact with content and how creators reach their audiences. In the midst of this years-long paradigm shift, a new approach called Watch2Earn has entered the scene and is integrating engaging content with the potential of blockchain technology.
Gone are the days of passive scrolling and consuming digital content. Instead, we are entering an era of active participation and community-based experiences. Where attention matters and actively engaging with your favorite creators, shows, or games is not just a pastime, but a way to earn rewards and foster deeper relationships.
This Watch2Earn is promising. In this article, we delve into this narrative, describing its value proposition for creators and consumers, its potential to onboard new users to the crypto space, and its broader implications for the content creation industry.
Revolutionize content creation.
Platforms where you've secretly hosted content are quickly disappearing while reaping the financial rewards. A time when even creators struggle to monetize their works unless they are actively selling something on their channels.
Watch2Earn is disrupting this dynamic by transforming viewers from passive consumers to active participants in the content ecosystem. The trend rewards viewers with tokens or other crypto-based incentives for engaging content.
This stimulating economy improves active participation and participation and fosters a sense of community. Engaging with your favorite creator's content has become more valuable than just clicking ‘play'.
As you leave insightful comments, participate in live chats, or complete interactive challenges, you'll be rewarded with tokens or other crypto-specific incentives. This creates a sense of ownership and belonging in the community.
Watch2Earn beautifies the viewing experience and transforms passive consumption into an active and rewarding pursuit. Imagine promoting your favorite stream on a platform like XCAD Network, knowing your participation will directly contribute to their success and earn you valuable tokens at the same time.
By browsing different content in pursuit of rewards, viewers stumble upon hidden gems and connect with like-minded individuals, enriching their overall content experience.
Benefits for the audience
Some of the benefits for viewers in this incentive economy include:
Focus Monetization: Viewers' time will be valuable, allowing them to earn rewards for engaging with their favorite creators, shows or games. Early Access and Exclusive Content: Watch2Earn platforms offer exclusive content, airdrops or token holders for early access opportunities, fostering a sense of exclusivity and community. New content discovery: The rewards system can encourage viewers to explore different content, promoting discovery and fostering a wider appreciation of different creators and formats.
Encourage creators with a new income stream
For creators, Watch2Earn represents a new way to monetize their content, and offers several benefits.
Direct debate with their audience: In this model, creators bypass traditional revenue models, creating a direct financial relationship with their audience, aligning their success with audience engagement. Universal access: Blockchain technology eliminates geographic barriers, allowing creators to tap into a wider audience and unlock new revenue streams through crowdsourcing, proof of ownership and direct fan engagement. Community Building: Alternative incentives encourage strong creator-backer relationships, and encourage community building and loyalty. Data Ownership and Transparency: Blockchain-based platforms allow creators to have ownership and transparency over their content and audience data.
By fixing the gap
One of the most impressive aspects of Watch2Earn is its ability to onboard new users into the crypto space. As of January 2024, 5.35 billion people are using the Internet. Of this number, 5.04 billion people worldwide are social media users, of which an estimated 420 million will be crypto users by 2023.
Of these, 263 million are in Asia, 57 million in North America, and 38 million in Africa. This shows the scope of the combined markets, which shows the opportunity for users to get on board with the crypto sphere.
To reinforce this point, some estimates suggest that 94% of crypto buyers are in the 18-40 age group, with Gen Z and Millennials making up the majority.
People who spend a lot of time on video streaming platforms like YouTube are the same demographic – with more than 2.1 billion active users. In the year By 2023, 94% of millennials will use digital video services worldwide. Followed closely by Gen Z respondents, with a score of 93 percent.
By integrating crypto rewards as content into an intuitive and engaging activity, Watch2Earn creates a low-barrier entry point for individuals curious about blockchain technology, bridging the gap for curious individuals and driving mainstream adoption.
Users will experience the benefits of crypto (ownership and rewards) without technical or investment barriers, and this will improve the adoption and understanding of the technology.
Watch2Earn's wider implications and resources
The Watch2Earn narrative extends beyond pure entertainment and holds the potential to impact various sectors such as:
Social Media: Encourage active participation on social media platforms, creating more engaging and dynamic communities. Teaching and Learning: The narrative rewards students for consuming educational content, which mixes the learning process and encourages them to acquire knowledge. Sports and Games: Spectators and players can contribute to the development of sports and gaming ecosystems through direct participation-based rewards.
Summary
The Watch2Earn narrative represents a remarkable development in the digital content creation industry. By aligning audience attention with creator rewards and community building, it provides a valuable proposition for consumers and creators alike. Added to this, its potential to onboard new users into the crypto space and influence various sectors makes for a larger narrative.
As this field evolves, it has the potential to shape how we engage with content, empower creators, and shape the future of online communications.
Disclaimer
In compliance with Trust Project guidelines, this opinion piece represents the views of the author and may not necessarily reflect the views of BeInCrypto. BeInCrypto is committed to transparent reporting and maintaining the highest journalistic standards. Readers are advised to independently verify information and consult with professionals before making decisions based on this content. Please note that our terms and conditions, privacy policies and disclaimers have been updated.
