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Thursday, July 18, 2024

The shutdown of TikTok USA: A golden oppurtunity for the Metaverse & Web3 Ecosystem

SandboxThe shutdown of TikTok USA: A golden oppurtunity for the Metaverse & Web3 Ecosystem

The shutdown of TikTok USA: A golden oppurtunity for the Metaverse & Web3 Ecosystem

TikTok Ban in USA
TikTok Ban in USA

So, ByteDance the parent company of TikTok has said that instead of selling its US Arm, They would rather shut shop and close all business operation in USA all together.

Another major economy which did this was The Republic of India.

Here are the key lessons we can learn from that:

Soon, after TikTok shut down in India the content creators looked for a new home, Big Tech like Meta and Google caught onto this, and some other home grown brands in India such as Moj, and others capitalised on this, then came the growth of YouTube Shorts, Instagram and Facebook Reels and much more.

The learning outcome was that most of these content creators who were earning a living from TikTok needed a new home where they could move to, while fullfilling their content creation ambitions.

Here in, lies a one in a blue moon paradigm shift opportunity, if you check today most Metaverse and Web3 flag bearers like The Sandbox, Upland Me Metaverse, Nowhere and many others are looking to capture content creators.

Sebastien Borget, Dirk Lueth and Jon Morris of The SandBox, Upland Me Inc and Nowhere.io have been where clear with their messaging with the welcome for content creators and UGC developers.

If this ban does take place from the US Government, and TikTok does cease operations in USA. It will be prime time and the biggest beneficiaries might just end up being Metaverse and Web3 brands like The Sandbox, Upland Me Metaverse, Nowhere.io and many other Metaverse and Web3 platforms.

So, even though the future is uncertain and TikTok owner ByteDance says that they will rather choose to shut operations in USA, rather than sell it to someone else.

Metaverse and Web3 brands such as The Sandbox, Upland Me Metaverse, Nowhere.io and many others have a once in a blue moon opportunity to capture the vaccum which will be left in the content creation space by the exodus of TikTok from the US market hastily.

Only, time will tell whether ByteDance does shut shop in USA and if they do, who will capitalise and benefits from this change the most but it’s sure that Metaverse and Web3 brands such as The Sandbox, Upland Me Metaverse and Nowhere.io along with many others are poised to be placed in the most advantageous position to capture these content creators and bring them into the Metaverse & Web3 ecosystem and eventually into their own ecosystem.

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