The technology of blockchain is evolving at a very rapid pace. The tokenization aspect of blockchain is set to revolutionize various industries. We already seeing many blockchain-based projects in areas like real estate, healthcare, internet browsing etc. which are employing their own tokenized frameworks of operation. But can tokenization help content-creators like PewDiePie and others in their own respective areas?
Content creators often face a lot of strict guidelines. Platforms like YouTube are often accused of showing biased behavior against various content creators and the biggest YouTuber on the platform right now PewDiePie, or Felix Arvid Ulf Kjellberg in real-world, lies at the center of all this. It is often suggested by him and his community that the content produced by PewDiePie faces more strict scrutiny than others. His videos get demonetized more often than others even on small slip-ups. But there is probably something that can help eliminate this issue, tokenization.
We have one of the biggest examples of the blockchain-based ad-free browser Brave in this regard. Brave employs tokenization at its core and has BAT as its representative token of value in the network. A token is the representative of value in the network and offers a specific utility to the user. This is why it carries value. Tokens can also be fungible meaning users can convert them into cash.
In order to reward publishers in its ecosystem, Brave uses the concept of attention. Based on the attention given by the users to specific publishers, rewards are granted. As a result of this, the middlemen present in the current advertising framework of the world are removed. Publishers are granted their rewards based on the attention they gained directly from the users. The blockchain network formed is also global meaning people from across the world can participate in the network. Now how can this affect YouTube?
If YouTube employs a blockchain-based framework where monetary rewards are given to various content creators and YouTubers based solely on their attention, this can help eliminate the negative connotation attached with the platform. Bias introduced by a centrally controlling party is taken out of the picture. This essentially means less complaints from PewDiePie regarding YouTube demonetizing him for no specific reasons. This can help form a more just framework of operation where the users and publishers on the network are in control themselves. Now since blockchain forms a global system of operation, people from across the globe can help their favorite content-creators directly with rewards. Besides earning, this can also change how fundraising is done using the platform.
But in the hindsight of all this, the technology of blockchain is still evolving. There are a lot of technical restrictions and boundaries. Although tokenization might not make sense to platforms like YouTube as of now, but moving forward into the future with developments and regulations being made at a very rapid pace in this arena, tokenization might help revamp the platform overall.