Traditionally, nearly all media was created and controlled by a few central organizations. Then, the internet came along and platforms like YouTube and Facebook democratized content creation while controlling distribution.
Now, with the advent of blockchain technologies, Passes is attempting to decentralize power to the creators themselves. The startup is building a web3 platform for creators to scale their content and own their audiences.
In theory, this should be a dream for creators and consumers alike. However, so far web3 platforms have found that in practice, it is difficult to onboard users.
Passes must ensure that its platform is easy to use and has competitive capabilities if it is to break the network effects of the media conglomerates of today. Its recent acquisition of rival monetization platform Fanhouse should help build its momentum in this area, however it remains to be seen whether Fanhouse's creators will stick with the platform.
Kirsty
Company Specialist at Welcome to the Jungle