Creator economy: the future of economy in the Metaverse

The contents at the centre of virtual economy.
The Metaverse implements a dimension in which creativity,
art and design achieve a new value, thus giving life to creator economy.

Man was born to create. Every action he does contributes, in one way or another, to building something, whether material or abstract, thus leaving its footprint in the world. Metaverse represents a new opportunity to evolve and make a mark not only in the physical, but also in the virtual world.

Human’s needs are changing, and the economy with them. Especially in the wake of last years’ events, people are redesigning their priorities, optimizing their time to cultivate their passions and give free rein to individual creativity. While until now economy was oriented to satisfying people’s need for consumption, in the last years it is shifting towards the fulfilment of people’s need for creation.

It goes with no doubt that a central role in this process has been carried out by the Metaverse, which turned the spotlight on this sector and contributed to the birth of a new economy – that of content creation, that is saying, the creator economy.

Creator economy represents one of the main pillars on which the Metaverse lays its foundation; in this article you can find out its position as one of the fundamental layers that compose the virtual world.

WHO ARE CREATORS AND WHICH ROLE WILL THEY BE PLAYING IN THE METAVERSE?

Content development is getting more and more oriented to the single content authors, also called creators. Creators’ role is crucial to the Metaverse, since they are able through their contents to connect people by establishing a sense of community that underpins audience loyalty for individuals and customer loyalty for brands. As a demonstration of this concept there is the increase of the influencer marketing, certified over the past years, that consists in people gaining a strong following on platforms such as Instagram or Youtube thus becoming a reference point for brands and companies who use these accounts as a channel for their products’ advertising. This strategy may undertake a significant evolution due to creators joining the Metaverse, since a relevant share of innovative and involving experiences could come right away from there. As a matter of fact, thanks to creators, brand images are becoming more and more attached to their contents, and that’s the reason why in the Metaverse the collabs between the two parties are expected to increase tenfold with respect to the ones that are currently taking place in the social networks’ world. The change resides in the users’ transformation, who are no longer making a passive use of contents as in 2d platforms, but becoming themselves active players in the definition of any kind of product. The Metaverse opens the way to this rising economy since it represents a shared virtual space in which creators can freely express themselves, reach a wide target, give the right value to their products and monetize straight from them, since they own them. In fact, in the Metaverse, creators can gain a significant financial return without having to answer to any superior, who often takes most of the money. In the Metaverse, content creation has an even greater value than in the real world, since it is the latter that build the Metaverse itself.

THE FUTURE OF THE ECONOMY CREATION (CONTENT ECONOMY)

The constantly evolving VR and AR technologies are the cornerstones of the immersive experiences’ creation in the Metaverse. Contents’ fruition becomes interactive, involving and three-dimensional thanks to the devices’ innovation and functionalities. In fact, the ongoing investment both on this sector and on the Metaverse’s graphic will contribute even more to the growth of the creation economy, as the contents will reach a higher quality. Also, the fact that the virtual world distinguishes itself for its decentralization – that is saying, it is not into the power of a few big players of the sector – implements each user’s possibility to occupy their own space in this new dimension, thus giving voice to their person and creativity.

How to make the best out of the new creator economy?

First of all, keep studying: the deepening of the IT topic and the Metaverse’s ways of using is a must to be able to exploit potentialities at best. Intensify experts’ research through high-level contents is a fundamental step.

Then, as always, it’s important to listen to the target, the audience, the users: the communication channels’ direction can only be oriented to the needs and perceptions of who will use them in their everyday life.

It’s finally noteworthy to rely on partners provided with a mature business vision and able to support brands’ virtual transformation, as well as acting as a technological interlocutor for what concerns every creative project.

The potential of Metaverse is tangible and companies are moving in this direction to earn a relevant space in terms of marketplace as soon as possible. Creation economy means the future for both the emerging and the already established realities. Just think about museums and art galleries, which, thanks first to AR and VR devices and then the Metaverse, are recovering the cultural value that is actually vanishing in the real world. Therefore, the Metaverse represents a chance for growth both on the economic and the reputation side, the latter of which is being implemented through content creation.