Web3 Brings Participatory Social Media and New Earning Opportunities

20.12.2024

Kuva: ChatGPT 4.0

For the past ten years, Facebook has maintained its position as the world’s most widely used social media platform. It has more than three billion users globally — roughly one-third of the world’s population (Kumar, 2024). In Finland as well, Facebook remains the most popular social media platform measured by weekly users, with approximately 3.25 million users (Innowise, 2024). During this decade, new platforms have emerged and disappeared while Facebook has remained a long-standing favorite.

Among the rising social media platforms is TikTok, which has around one-third of Facebook’s user base (Innowise, 2024; Backlinko, 2024). TikTok carries significant potential for change because its user base is considerably younger than Facebook’s. In this blog, I explore especially the age distributions of different social media platforms, as these are central factors in areas such as targeted marketing communication. Another area of interest involves algorithms, which have diversified both the functionality of social media and its revenue mechanisms. Together, these developments also open intriguing possibilities for creative industry professionals.

TikTok’s algorithm has enabled unknown creators’ content to spread widely, steering thinking toward the new collaborative models between content creators and content re-users made possible by Web3 technologies. Web3 offers new ways to utilize creative content in which both creators and those reusing content can benefit financially. For example, blockchain technology makes it possible for compensation from every use of content to be directed both to the original creator and to the secondary content user. This makes sharing culture not only valuable but also more transparent and fairer than before.

Earn by Sharing: Web3 Turns Everyone Into Content Creators

Facebook’s monetization model is based, for example, on advertising revenue generated through video views or through sponsored content partnerships enabled by branded content tools (Branded Content Tool, 2023). Revenue generation is strongly tied to view counts and eligibility criteria, such as reaching 10,000 followers. At the same time, this system has produced an influencer profession that has gradually gained a significant role in managing social media visibility. Alongside bringing younger generations into social media, TikTok’s transformative power also relies on new ways of distributing revenue among content creators. The platform’s core idea is to democratize the production of successful social media content through a more egalitarian algorithm, where virtually anyone can earn money and gain global visibility.

TikTok allows unknown creators’ content to rise to prominence without requiring massive follower counts. The most important factor is whether the content resonates with audiences and connects to broader communication trends. TikTok’s “For You Page” (FYP, 2024) prioritizes engagement rather than follower numbers, meaning the algorithm favors videos that receive high levels of likes, shares, comments, and watch time. In principle, any video can therefore reach millions of viewers if it appeals to audiences. Small local artists and creative professionals may gain visibility without an existing global fanbase.

Videos created by lesser-known content creators often contain authentic-feeling content, empowering or inspiring stories, and do-it-yourself tutorials such as makeup guides. Many feature humorous coincidences or spontaneous reactions from people or animals. Content related to dance challenges and lip-sync trends has also rapidly gained millions of viewers, transforming creators’ roles toward collaborative partnerships with the original creators of the music used.

The partnership between original creators and re-users of content is rooted in a sharing culture where content is not merely watched or liked but actively remixed and redistributed. This culture directly reflects Web3 thinking, in which involving communities and users in content development and distribution is central. For example, DAOs (see Mustikainen & Konttinen, 2023) may function as communities that not only share content but also collectively decide how it is developed and monetized. This balances power between platforms and users, and younger generations are often particularly eager to adopt such participatory models.

Music, Trends, and Viral Hits – Why Is TikTok So Addictive?

TikTok places sound at the center of its platform, naturally encouraging music-focused content. When a song or sound clip gains traction, it can quickly become a viral phenomenon that propels creators into widespread public awareness. This differs from other social media platforms, where images (Instagram) or text (Twitter/X) dominate.
For example, viral TikTok music clips have led to significant increases in streaming numbers and even major record deals for emerging artists. This engagement-driven model means TikTok can offer direct economic opportunities that other platforms struggle to replicate (see Coulter, 2022).

TikTok’s algorithm encourages the remixing and reinterpretation of music-based content. Users create videos around popular or emerging songs. Singing along, dance routines, and trend participation are at the heart of many viral phenomena, offering virtually anyone the chance to momentarily become part of the social media mainstream.
For creative professionals seeking to maximize visibility and monetization opportunities, TikTok offers a unique environment for leveraging user-generated content. The platform also provides agile collaboration and marketing mechanisms that differ significantly from traditional social media models.

TikTok as a Herald of Web3 Ideology – What Might 2025 Bring?

In 2024, TikTok became a major topic of public debate both in Finland and globally. In a survey conducted by Yle among Finnish members of parliament, 84 out of 126 respondents believed TikTok should be banned in Finland (Hara, 2024). Concerns focus particularly on cybersecurity risks, the spread of misinformation, and the addictive nature of the application, raising broader questions not only about privacy but also about the platform’s societal impacts.
TikTok’s relationship with China generates significant suspicion. TikTok has denied allegations regarding connections to the Chinese government and data security concerns, yet the application has faced strict regulation in countries such as India and the United States. These measures could potentially serve as models for Finland if pressure to restrict the platform continues to grow.

Although TikTok’s position has been questioned, it seems highly likely that short-form video content is here to stay. TikTok is also accelerating the development of Web3 through a broader shift in mindset. In this emerging model, young people are no longer merely consumers but also partial owners and active users of content within their own social media activities. Supported by smart contracts, this transformation could create entirely new economic opportunities for them.

The transformation of social media is already underway, and its effects extend from individuals to society as a whole. TikTok’s rise challenges traditional platforms, but it also raises important questions about responsibility, cybersecurity, and young people’s wellbeing. At the same time, the platform’s new opportunities — particularly for creative professionals and small-scale content creators — are significant.
This development highlights the need to better understand how social media platforms function, what impacts they have, and where they may be heading in the future. Ultimately, the question is not simply which platform dominates the market, but how we choose to use these tools constructively and responsibly for the common good. The future of Web3 is taking shape right now — and all of us are helping shape it.

References

Backlinko (2024). Social Media Usage & Growth. Backlinko 6.9.2024. https://backlinko.com/social-media-users

Branded Content Tool (2023). Branded Content Policy. TikTok 11/2023.  https://www.tiktok.com/legal/page/global/bc-policy/en

Coulter. A. (2022). Marketing Agile Artists: How Music. Labels Can Leverage TikTok’s Virality. MEIEA Journal Vol. 22, No. 1. https://doi.org/10.25101/22.5

FYP. For your Page (2024). What is FYP. TikTok, luettu 18.11.2024. https://www.tiktok.com/channel/what-is-fyp?lang=fi-FI

Hara, J. (2024). Iso osa kansanedustajista kieltäisi Tiktokin – katso, miten oma edustajasi vastasi. Yleisradio uutiset. https://yle.fi/a/74-20086759

Haidt, J. (2024). Ahdistunut sukupolvi. Kuinka älypuhelimen perustuva lapsuus on aiheuttanut mielenterveyden häiriöiden epidemian. Suomentanut Pietiläinen K. Terra Cognita.

Innowise (2024). Sosiaalisen median tilastot ja käyttö Suomessa: somekatsaus 02/24. Innowise 07.2.2024. https://www.innowise.fi/fi/sosiaalisen-median-kaytto-suomessa-somekatsaus-022024/

Kumar, N. (2024) Facebook User Statistics (2024) — Worldwide data. Demandsage.com statistics, 14.10.2024. https://www.demandsage.com/facebook-statistics/

McCormick, K (2024). The 6 Biggest, Baddest Social Media Platforms of 2024 (+How to Wield Their Power). Business 2 Community 19.3.2024. https://www.business2community.com/social-media-articles/the-6-biggest-baddest-social-media-platforms-02452016

Mustikainen, H. & Konttinen, M. (2023). Ovatko perinteiset organisaatiot tulleet tiensä päähän? Sitra artikkeli 25.5.2023. https://www.sitra.fi/artikkelit/ovatko-perinteiset-organisaatiot-tulleet-tiensa-paahan/

Sosiaalisen median tilastot 2024. (22.10.2024). Markkinointi Maestro blogi, luettu 18.11.2024. https://www.markkinointimaestro.fi/sosiaalisen-median-tilastot

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