Sometimes it can be difficult to navigate the expanding digital world with plentiful options of platforms offering content monetization, social aspects, and a promised priority devoted to the user. In this article, we will provide reviews of the biggest Web 2.0 video content platform YouTube, and Web 3.0 rivals: DeBank, Lens protocol, Friend.tech, and MetaPax. In particular, we will look at the monetization models and the earning opportunities for the communities.
YouTube Monetization Models
YouTube is our Web 2.0 comparison example representing the monetization models of the previous generation internet. Over the years, YouTube has developed various monetization models to help creators earn revenue from their content. Here’s an overview:
- Ad Revenue: This is the most common way creators earn money on YouTube. Advertisements can appear as display ads, overlay ads, skippable video ads, non-skippable video ads, bumper ads, and sponsored cards. Creators earn a share of the revenue generated from these ads.
- Channel Memberships: Creators can offer badges, emojis, and other perks to their subscribers for a monthly fee.
- Super Chat & Super Stickers: This is a feature where viewers can pay money to pin their comments on live chat during a live stream.
- YouTube Premium Revenue: When a YouTube Premium subscriber watches a creator’s content, the creator earns a share of the fee the subscriber pays to YouTube Premium.
- Merchandise Shelf: YouTube partners with merchandise platforms to allow creators to showcase their official merchandise right on YouTube.
- YouTube Channel Subscriptions: Some creators offer subscription-based content where subscribers can pay a monthly fee to access exclusive content.
Monetization Criteria
To start earning money on YouTube, creators need to be part of the YouTube Partner Program (YPP). The criteria for joining YPP are:
- Watch Hours: The channel needs to have 4,000 valid public watch hours in the last 12 months.
- Subscribers: The channel needs at least 1,000 subscribers.
- AdSense: The creator needs to have a linked AdSense account.
Investment and Earnings
The investment required to start a YouTube channel can vary widely based on the type of content. Some basic costs might include:
- Equipment: Camera, microphone, lighting, editing software.
- Content Creation: Costs related to locations, props, costumes, etc.
- Promotion: Advertising or promoting videos to gain initial traction.
The average earnings of a YouTube creator can also vary widely. Factors influencing earnings include the niche of the channel, the country of the audience, engagement rate, and more. On average, YouTube pays creators $0.01 to $0.03 per view, but this can be higher or lower based on the factors mentioned.
Creating content on Youtube
Creating a YouTube video demands dedication and effort. Based on research from Rizzle and Reddit, the process varies among YouTubers. There are NewTubers, SmallTubers, and Pro YouTubers, with pros often spending more time on videos. Genres range from beauty to tech. The video-making process, sourced from Rocketstock, involves steps like research, scripting, filming, editing, audio mixing, thumbnail creation, and SEO. On average, a video takes 7 hours for 1–5 minutes of content, with time ranging from 2 to 300 hours. The time commitment increases with more subscribers. Editing can take days for perfectionists.
To succeed on YouTube, persistence is key. Now — let’s move to Web 3.0.
Debank — shifting the social paradigm with Web 3.0 integration
Initially launched as a DeFi dashboard in 2019, Debank offered users a unified view of their assets. Recently, it expanded into SocialFi with features like Debank Hi, which turns user attention into a tradable asset, and Debank Stream, a crypto-focused social media.
DeBank monetization opportunities:
- Daily Lucky Draws
- Reward Pool
- Future airdrops
- Future token launch
Now, Debank stands out as a comprehensive portfolio tracker for crypto investors. While its primary utility is asset tracking, monetization opportunities are currently passive, with potential earnings waiting in future token launches or airdrops.
To fully engage with Debank’s earning features, users must maintain a wallet balance above $1000, unlocking functionalities like commenting and participating in giveaways. Despite this initial investment, the main earning streams are focused on active user engagement, such as daily Lucky Draws and the Reward Pool, rather than passive asset tracking.
In terms of earning opportunities — as as convenient it is, Debank will not make you rich.
Friend.tech — the marketplace for friends
Another more recently emerged Web 3.0 decentralized social media platform is Friend.tech.
It lets users tokenize, buy, and sell their social media influence. The platform enables monetization in various ways:
- Tokenizing Influence: Users can buy and sell shares or “keys” of social accounts they believe are promising.
- Trading Fees: Users earn a percentage from trading fees when their shares or keys are bought or sold.
- Using Bots: Bots can track new accounts and even buy and sell shares automatically.
- Airdrop Points: Users can accumulate airdrop points, which might have future value.
- Being a Creator/Influencer: By gaining followers on platforms like Twitter, users can increase the value of their shares on Friend.tech.
The platform emphasizes monetizing social media influence, either by becoming a notable figure or by investing in potential future stars.
According to BSC News report (2023), here’s the summary of the most profitable Friend.tech Accounts:
- Top Accounts: Cobie leads with earnings of $144.4k (81.94 ETH), followed by 0xRacerAlt with $101.7k (58.04 ETH), and HsakaTrades with $100.6k (57.06 ETH)
- Earnings Dynamics: Average daily earnings for top accounts range from $1.2k to $6.3k, with potential annual earnings between $453.2k to $2.3 million.
- Early Adopters: 16 out of the top 25 accounts were created within the platform’s first three days.
- Fee Structure: A 10% fee is charged per transaction, with half going to Friend.tech and the other half to the account holder.
Lens Protocol — a decentralized social graph
Lens Protocol provides a blockchain-based alternative to Web 2.0 social media that promotes user ownership of digital connections and content. It supports a permissionless system, granting users complete control over their data and the opportunity to monetize their content.
Similarly to Web 2.0 social media frameworks, users can engage in familiar activities like posting and sharing. The journey begins with a Profile NFT, allowing users to monitor others. Unique features like Follow and Collects redefine user interaction and content monetization, respectively.
Drawbacks:
- Storage Concerns: Due to inherent storage constraints, not all content finds a place on-chain, leading to the need for alternative storage.
- Potential Vulnerabilities: Content stored on platforms like IPFS or Arweave might be at risk.
- Security Risks: As with many decentralized platforms, there’s an ever-present risk of hacker attacks.
Earning with Lens Protocol
A unique feature called ‘collect’ has been introduced. Users can ‘collect’ posts, turning them into NFTs. This allows creators to set parameters on who can collect their content, for how long, and at what price. In its first year, there were over 3.8 million collected. Out of these, 5.7% were paid collects, generating a total of $342,897 USD in earnings.
Breakdown: Given there are 117,691 profiles on Lens:
- Total earnings from paid collects: $342,897
- 5.7% of 3.8 million collects were paid: 216,620 paid collects
- Average earning per user from paid collects: $342,897 / 117,691 = $2.91
Lens Protocol offers a promising new way for users to monetize their content, however, the real potential of serious earnings is far away.
MetaPax — earn by doing what you love
MetaPax offers a new digital streaming experience. To stream, users need a wearable device and a starter package. Once set up, you dictate your rates, hours, and services, with the perk of instant blockchain-powered payments.
Unlike other platforms, MetaPax allows creators to instantly monetize their content, keeping up to 80% of earnings without middlemen. The platform’s unique feature? Integration with wearables for real-time services. From apartment hunting to city tours, MetaPax connects users to experts. We recommend smart glasses for a hands-free, first-person experience.
Users, as Paxers (creators, streamers) or Beholders (consumers, viewers), can earn in numerous ways:
Earn from streams
Once the user becomes a Paxer, one of the ways to earn is from single streams. List your services and build a compelling profile to appeal to the Beholder who would be interested in presenting you with a certain task that fits your criteria. Whether it’s a city tour, a piano lesson, or a breathtaking experience — it’s a source of monetization.
In addition, each stream can attract not one streamer but hundreds or even thousands. For instance, streaming a concert is a great opportunity to bring in the fans who couldn’t physically be there.
Set your own rate, select your own skills and choose when to work.
Earn from their streamer account subscribers
Additionally to single streams, each Paxer has the chance to build their audience and subscribers who pay a monthly subscription fee and have access to all streams.
Earn from in-platform interactions
Besides streaming, MetaPax users can also earn from activity on the platform, engaging in live chats, discussions and community activities.
Live shopping feature
Here’s what the MetaPax live-shopping marketplace has to offer to you as a streamer:
- Utilize your streams to promote merchandise — sell them right there and then
Arrange engaging quizzes with valuable prizes - Organise draws with gifts to your loyal audience
Overall, Web 2.0 solutions for content monetization are getting outdated and complicated monetization models to prevent new creators from entering the industry and earning money efficiently. The diverse Web 3.0 platforms each offer some type of content monetization but earning from your profile data or content on social media doesn’t seem to be profitable enough for the creators to earn enough income to sustain themselves without an additional revenue stream like a part-time or even a full-time job.
MetaPax is focused on changing that and enabling people to easily access the creator economy and start earning by doing what they love. With fair monetization models and endless streaming possibilities — the opportunities are only limited by your imagination.
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