The Future of NFTs and the Creator Economy

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This chapter explores the evolving landscape of NFTs and their economic implications, highlighting the initial excitement around blockchain technology. It discusses how creators are navigating monetization challenges in a bear market and the rise of new digitally native work platforms. The chapter also examines the transformation of social media, particularly for Gen Z, emphasizing a shift towards immersive video experiences and the importance of innovative funding models for niche businesses.

Rex Woodbury, Founder and Managing Partner at Daybreak Ventures, and previously a Partner at Index Ventures joined Erik to explore the evolution and impact of the creator economy. They discuss the challenges of monetization for creators, the future of consumer social platforms, and the changing demographics and behaviors of different generations. Grow and monetize your newsletter with Beehiiv: head to https://Beehiiv.com and use code “EMPIRES” for 20% off your first three months.

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LINKS:

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Digital Native: https://www.digitalnative.tech/

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X / TWITTER:

@eriktorenberg (Erik)

@rex_woodbury (Rex)

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TIMESTAMPS:

(00:00) Intro

(00:46) Evolution of the creator economy

(03:26) Commerce in the digital age

(08:15) Gen Z: The digital native generation

(13:15) Monetization challenges in the creator economy

(15:57) Sponsors: Beehiiv and Metaview

(18:04) Future of secondhand and resale markets

(21:52) Individuals over institutions

(28:20) Unconventional jobs in the new economy

(31:01) Funding passion projects and NFTs

(34:23) Emerging platforms for digital businesses

(37:19) Challenges and opportunities in disrupting LinkedIn

(39:08) Potential of NFTs and blockchain

(40:22) Financialization of everything

(46:17) Evolution of social Media and commerce

(50:18) Demographic shifts and business opportunities

(53:15) Advice for aspiring entrepreneurs

(54:52) Wrap

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This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at erik@turpentine.co.