Creators can turn their content pieces into NFTs to build a new revenue stream

New Ideas in MarketingEssential news for marketers, summarised by YouGov
May 12, 2022, 1:49 PM GMT+0

Owing to the growing creator economy, mid- and smaller sized creators can now monetise their creative intellectual properties (IP) via brand deals.

Creators can now profit from "capsule collections" or IP deals that they can work on with brands to licence their representation or likeness for new product lines. Reza Izad, co-founder and partner of talent management firm Underscore Talent, states, "The opportunity for creators to monetise their audience has never been bigger."

International creator supporting companies like Jellysmack and Spotter, for example, aim to invest $500 million and $670 million, respectively, to licence creators' video back catalogues. Further, these companies do not sponsor only the top 1% of creators with a large following; rather, they support a broader range of creators.

Moreover, creators can turn their content pieces into non-fungible tokens (NFTs) to build a new revenue stream and to monetise their content. With most back catalogue licence deals syndicating creators from platforms like YouTube, Facebook, and Snapchat, the opportunities for creators to monetise their IP are likely to rise, contends the article.

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