Xsolla, a video game commerce company that operates globally, has unveiled a new platform called Story3 that aims to provide more equitable compensation for creators.
The platform, geared towards storytellers, journalists, and writers, features direct-to-consumer transactions and an “immersive canvas for enhanced creativity.” In addition, creators can expect to receive fair pay, a common problem in today’s crowded creator economy where big companies take a large cut of earnings.
Venture Beat first reported the news.
Shurick Agapitov, founder of Xsolla, said in a statement that creators today “grapple” with inadequate compensation and an uncertain career trajectory. Story3 is an “audacious response” to that climate, allowing creators to negotiate better terms and secure stable earnings.
There are three main features of the platform:
Enhanced audience interaction: By cutting intermediaries, creators can connect directly with their audiences, fostering better connections.
User-friendly monetization process: By creating a narrative structure that features “twists,” users receive a personalized experience while creators benefit from fair compensation.
Streamlined payouts: By introducing a transparent and efficient payout system, creators can receive “timely and fair compensation,” along with insight into earnings.
Xsolla is the “merchant of record” for the gaming industry, working in over 200 geographies to ensure legal compliance for clients. It has partnered with many of the top gaming companies in the industry, including Epic Games, Twitch, Steam, Roblox, and more.
Rarity Sniper has reached out to Xsolla for comment and will update this article if it responds.
Creators Caught in Web3 Battle
A new platform that benefits creators is good news, especially for this writer. But creators in Web3 have been caught in a battle over the past couple of years, often suffering and losing income.
The problems started with Blur and the elimination of royalties, which had been a lifeline to creators of many projects. Fortunately, some companies have responded with plans that will benefit creators. Here are three stories involving that issue, all from the past five months.
First, three months ago, Yuga Labs and Magic Eden announced that they would launch an Ethereum marketplace focused on creators. The marketplace, as part of its design, would honor creator royalties, a hot button topic at the time. Both companies expressed their hope that the new marketplace would attract more creators and builders to Web3.
Next, four months ago, NFT marketplace OpenSea decided to sunset ‘lazy minting’ and replace it with a new feature: Creator Studio. The company said the new tool would give creators more options to manage, analyze, and create their NFT collections. There would be other perks as well for creators as well, including new image, video, and FAQ sections.
Lastly, five months ago, the revamped LimeWire announced the launch of its AI Studio, which allows users to create vibrant images and mint them on the blockchain. The Studio, which runs on Polygon, comes with 10 credits per day for free, after which a user needs to pay for a plan.
As these stories show, even though creators have faced a tough time in the bear market, some companies have rallied to their cause. Xsolla’s new platform may be another step in the right direction, with creators able to earn fair compensation. Who could say that’s a bad thing?