With NFTs, Creators are getting back their creative freedom.
An editorial by Nickolas Tazes, founder of Watchen.xyz
After watching this video by Ryan Ng Films and doing some thinking, I realize that creators have produced millions of hours of flavorless and "loud" content in an endless chase to please the algorithm of behemoths like YouTube, Instagram, and lately, TikTok. They have to meet the platform's standards. Otherwise, their work will not be seen even by their subscribers. As a result, the content itself has ended up playing second fiddle.
But how are NFTs going to change that? After all, aren't NFTs just monkey pictures? No, they are not (just) monkey JPGs. Instead, Non-Fungible Tokens are a technology that gives people full ownership over digital assets and an unquestionable way to prove this ownership.
So this means that creators can mint (deploy on the blockchain) their videos once and have them available on all the platforms compatible with the blockchain. Even on platforms they don't know exist. So, for example, if a creator mints their video as an Ethereum-based NFT (Ethereum is the most popular blockchain), every video platform using Ethereum will have this video available.
In this way, creators are not attached to one platform trying to please their (constantly changing) algorithms and can focus on creating more things that they love and express themselves in ways they couldn't.
Someone could argue that creators can already upload their work on multiple platforms. Of course, this is true, but platforms like YouTube have a key characteristic. It is called Network Effects. All the video creators upload on YouTube because this is where all the content consumers are, and content consumers go to YouTube because all the video creators are uploading there.
But with NFTs, the landscape becomes more neutral and fair because the content is available everywhere, so it becomes more important than the medium you are using to consume it.
In addition, these platforms will need to innovate and bring useful features because their network effects will not exist at the level they exist now. Yes, even YouTube can lose its network effects, otherwise, TikTok wouldn't be what it is now.
To sum up, NFTs will give creators the freedom to prioritize content over platforms.
I would love to read your thoughts on that.