Today, we’re hearing about another great opportunity that will enable just that and it’s dubbed as the Effect Creator Rewards. This innovative new fund will provide creators with the chance to produce effects via the likes of its much-talked-about AI initiative called Ellect House.
The fund that’s worth a staggering $6 million will be sending out payments to creators depending on their engagement while they make use of the effects. Moreover, the launch spoke about how creators would be given money for making use of the feature in at least 500k special videos that take place over a span of three months of it being put out. For this, the amount designated for payments includes $700.
Moreover, for every 100k videos produced over a span of three months, you’ll find creators collecting nearly $140. For now, TikTok is yet to send out any remarks on such plans and what would happen after the fund gets run out.
In the same way, one spokesperson mentioned how such a fund would be up for grabs in places like Germany, Spain, the US, the UK, and France. But what the firm did reveal is how their goal during the launch of the Effect House experiment was to provide designers and creators with the chance to create dynamic effects for the entire community of TikTok.
Now, they hope to do the same with this new venture and enhance commitment while expanding chances for creators in terms of greater support and rewarding passion with creativity.
This news comes just 14 days after we saw the company open up another creator fund but with additional features that go by the name of the Creativity Program. This is going to be up for grabs to all those that come under its eligibility criteria across the US and France.
This new project is created to produce more money and set out greater real-world chances for creators. And to be eligible for something of this kind, the content creator needs to be 18 and above while having 10k followers and some 100k views in the past one month.
TikTok feels such a rewards formula for its new creator fund is designed to provide a bigger average gross revenue figure for views. As it is, the current creator fund that was launched three years back had a commitment of nearly $1 billion for three years but that was severely called out by creators who felt they got minimal pay for their huge efforts.
Therefore, this paved the way for a new Creativity Program Beta which the firm felt was the response to such criticism.
Meanwhile, more details were also unveiled including how such a program wouldn’t enable creators to go back to its Creator Fund. Remember, TikTok didn’t reveal if the program was going to replace the fund as a whole or not. But what we do know is that it plans on scrapping it after its Creative Program picks up the pace and expands to the masses.
These two programs are the newest editions for the entire TikTok suite for monetization that entails LIVE subscriptions as well as a TikTok Pulse. Moreover, the firm also provides some more benefits as well as monetization features too. Just a while back, we saw the popular social media giant put out another feature that was dubbed Series. This enables Creators to put out more content that comes with an exclusive fee and is not for free.
Read next: Gen Z Is Wasting Time On Social Media Instead Of Working Hard To Study And Build Brighter Careers, Top Businessman Reveals
by Dr. Hura Anwar via Digital Information World
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