CREATOR ECONOMY NEWSLETTER
Issue 41 | May 26, 2022
Like most ventures on the blockchain, play-to-earn gaming has been met with a lot of skepticism. In addition to the environmental impact and volatility of the crypto market at-large, gamers have brought up concerns unique to play-to-earn gaming. Critics say these games are costly to enter, have minimal gains, and promote exploitative lending practices between “managers” who can afford the NFTs needed to start playing and “scholars” who borrow them. Managers often receive a sizable percentage of the revenue that scholars generate in-game, and many have likened the arrangement to a “Ponzi scheme.”
Still, Web3 evangelists believe that, over time, play-to-earn games will allow dedicated players to better monetize their passions. TikTok mega-star Michael Le is one of these believers, and he has channeled that optimism into a new crypto-based gaming platform, Joystick. Instead of taking a percentage of players’ revenue, Joystick aims to rent NFTs out for a flat monthly fee while gamers keep 100% of what they earn in-game. Le and his co-founder Robin DeFay hope they can assuage users’ fears with its team of blockchain vets and create a pay-to-earn gaming platform that maximizes earnings. While much remains to be seen, Le and DeFay spoke with Passionfruit reporter Grace Stanley about their vision and excitement for blockchain-based gaming.
– Daysia Tolentino, Passionfruit Editor
NEW FRONTIERS
TikToker Michael Le enters Web3 with new crypto-based gaming start-up Joystick
“For any influencer that wants to be a part of it, I think they need to educate themselves first before doing anything because it’s a very unregulated space.”
By Grace Stanley, Passionfruit Reporter
THE HIGHLIGHT
Creators in Pakistan struggle against the country’s unpredictable social media bans
Social media has given working-class creators new opportunities, but bans have thrown stability into question.
By Anmol Irfan, Passionfruit Contributor
TIPS AND TRICKS
TikToker Zoi Lerma shares how she keeps up with her 5.6 million followers
“There are millions of people everyday showing off their work and talents, so why shouldn’t you?”
By Grace Stanley, Passionfruit Reporter
IN THE BIZ
- Linktree is the most popular link-in-bio tool among Instagram creators. (via Insider)
- A controversial bill in California may soon allow parents to sue social media companies for getting children “addicted” to their products. The bill has passed in the state Assembly and is now being considered in the state Senate. (via AP)
- An OnlyFans creator shared the unconventional way she got her Instagram account back and what she learned about the app’s internal review system.
TIKTOK MADE ME DO IT
A quick finger-crocheting tutorial for the cutest summer bag!
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