Instagram announced on Monday the launch of a new “Rings” prize which will offer 25 creators a literal gold ring and a matching badge on their profile, but no money.
The winners will be chosen by a panel including Instagram chief Adam Mosseri, the filmmaker Spike Lee, designer Marc Jacobs and YouTuber Brass Brownlee.
The decision comes as Meta– Instagram has completed its creative bonus program and brand offers slow down in the industry, which raises the question of why one of the richest companies in the world offers jewelry and profile characteristics instead of direct payments.
“This is more special visibility and a kind of incitement for people to work towards very cool recognition,” CNBC told Brownlee.
He said he appointed creators whose work showed the most effort and risks, not just those who have the greatest follow -ups.
Winners can also change their profile background color and customize the “Like” button.
Meta put an end to her play coins, which was a key revenue source for many creators, on Instagram and Facebook in 2023. At the time, some explained online that the loss of payments left them in difficulty.
“As stupid as it may seem, in this economy, it was a blessing for my house to have additional money,” wrote a user on Reddit.
Mosseri said in June 2024 that the company is considering changes in creators’ remuneration, but no new plan has been announced.
Rivals YouTube and Tiktok have their own creator income sharing programs.
YouTube has paid more than $ 100 billion to creators in the past four years, the company reported in September.
The creators saw a spectacular drop in brand agreements in 2024, lowering 52%, according to a Kajabi survey.
In January, Meta offered offers to creators to promote Instagram on Tiktok, Snapchat and Youtube, CNBC reported. However, an Instagram spokesperson said these transactions had ended.
In this context, Instagram’s new gold rings are distinguished as a symbolic gesture rather than direct financial support in an increasingly difficult creators’ economy.
“It could be considered an incentive to do more Instagram stuff, or really just an incentive to do the best possible thing and, hopefully, to be recognized,” said Brownlee. “No matter where you do, it feels good to know that it resonates with people, it’s inspiring people, or it’s impressive people.”
