The Creator Economy: How We Got Here and Why We Need Its Web3 Upgrade

The past, present and future of the creator economy: Looking back is a great way to get some insight real of what is happening today and why exactly this way.

Expert grip

Does the term "creator economy" make you think of an idealistic environment where creativity, authenticity and passion are key values? Where the real Michelangelo and Leonardo da Vinci advance their talents without struggling for food and proving themselves lifelong for a chance at posthumous recognition? If so, I'm with you.

Although creativity has been around as long as humankind, we started talking about it as the new economic paradigm not too long ago. Moreover, now we even talk about it in the Web3 dimension. To better understand what this is all about, let's start by walking through the backstory of the creator economy. How did we get here? Often, looking to the past is a great way to get real insight into what's happening today. It won't make you yawn, I promise.

The backstory of the creator economy

The transition to the creator economy has been long and uneven. Let's now explore the key economic and social development changes that ultimately got us here.

1. From agrarian economy to industrial economy

In the middle of the 18th century, we had the Industrial Revolution which led to a shift from agriculture to manufacturing. It was then that the industrial economy began, and it continued until World War II. The main task of the industrial economy was to produce more goods that would be accessible and affordable for a wider category of people.

Contrary to the overabundant reality of today, goods were scarce and not readily available at that time. To achieve its goals, industrialization triggered major economic changes, shifting power from the agrarians to the industrialists, with the latter becoming the center of the new economic reality. Industrialization also brought the culture of hard work, competition and the development of new ideas mainly related to production and automation processes. That was what the creative minds were focused on at the time.

That's not to say there wasn't room for purely creative pursuits, like music, writing, or painting, at that time. However, they were definitely not number one on the agenda. The artists continued to advance on their own. The realm of creation was not...