Web3 is just normalizing Web2 compensation for creators

Don’t be naïve. The decentralization dream of Web3 won’t come true any time soon, if ever. 

At least not as it was originally conceived. As Moxie Marlinspike, founder of Signal, explained, centralization emerged in the first place because people don’t want to run their own servers. Until running your own server is as accessible as turning on your router, the promise of true decentralization will remain a fairy tale. 

In the meantime, venture capitalists will continue to pour colossal amounts of money into Web3 companies like OpenSea and Coinbase for years to come. Investors know the barrier is high for the average user to turn away from the accessibility of centralized platforms, especially when market forces are strengthening our ties to those same third parties. 

But does the delusion of decentralization even matter for creators — the artists, musicians, gamers, vloggers, and entrepreneurs who should be fairly compensated for their work? 

Probably not. Whether via Web2 or Web3 mechanisms, peer-to-peer transactions between creator and follower are normalizing as we monetize more aspects of our lives. 

Nearly every social platform is making it easier for creators to get paid, and more companies that fall outside social media want a cut of the creator economy. Twitch launched their Bits program as far back as 2016. Instagram finally made it possible to pay creators directly with badges in May 2020. Twitter launched a digital tip jar last year.  TikTok announced their Creator Next program in December 2021. Even Stripe started expanding their service for creators near the end of last year. 

While there are some important differences between on-platform payments and NFTs, for example, what matters more is the behavior Web3 ideology is normalizing: Someone like you or me likes someone else’s digital presence enough to pay them for something they created.