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loose thoughts on the "social media platforms capture 95% of value" argument for onchain content:
it's built on the wrong assumption about what matters to creators at large.
data shows ~70% of the global creator economy and creator income already comes from off-platform sources like brand deals ($21B+ in 2023), merch, and subscriptions, NOT platform payouts. even on YouTube, creators earn ~$25B/year from ad rev share.
most users and creators' real challenge isn't how to get paid — it's how to get seen. most creators will choose audience over money first because reach, discoverability, and scaleable demand are what drive scalable monetization.
crypto rails alone can't fix that. worse, they add friction, volatility, and speculative behaviors that alienates mainstream fans — limiting the audience.
for crypto platforms to compete, they must solve the distribution and demand side and not just financial market mechanics.
and overindexing on monetization reads as a misunderstanding of the creator economy. 14 replies
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