First, let’s review the headline on Bloomberg:
YouTube and Facebook Are Losing Creators to Blockchain-Powered Rivals
Let me fix that for you:
YouTube and Facebook have Blockchain-Powered Rivals
There’s not much evidence to say that big centrally organised social media companies are being affected at all by these new entrants. There are interesting possibilities for creatives on these platforms, they seem to offer what early-Internet thought leaders would have predicted for a self sufficient web, but history didn’t work out that way. It remains to be seen if these alternatives can achieve the scale necessary to keep themselves from collapsing.
I must say it was interesting burning my afternoon following up on the three or four linked platforms, not that I have any current interest on joining any of them. There are also some strange economics surrounding the content being posted, namely they seem to be focused primarily about discussing the platforms themselves.