The creative economy today is centralized and disproportionately beneficial to huge media and technology corporations. This inequity creates a lack of diversity in economic participation, content exploration, unnecessary intermediaries, forced restrictions, and an overall subpar experience for multicultural content creators and consumers. Snake Nation aims to increase equitable value for all members through earning opportunities and unrestricted experience. The creation of the Snake Nation platform and incorporation of the digital asset, VNM, provides an opportunity to mitigate some of the current problems in the industry.
Snake Nation focuses on engaging communities of multicultural millennials (M2). The M2 generation is the largest and most diverse generation to date and constitutes over a $3.4 trillion community of young creatives. In their quest for financial freedom and creative independence, this generation selectively creates, watches, and distributes creative content in their own time on a global scale.
The M2 generation has been instrumental in the global acceptance of change in media consumption, which has evolved from traditional means (television, radio, static website) to on-demand, online and mobile dynamic platforms.
This subsequently supports global creative communities. It is thus imperative to enable more M2 creative rebels in Film, Art, Fashion, Music, Dance, Gaming and Technology to converge in the pursuit of sustainable careers by solving the lack of efficient value creation in creative content. The new equitable creative economy will be defined by the direct connection between creators, their audience, and value creation opportunities within the platform.
The projected buying power of the M2 generation in the USA will reach 4.1 trillion in 2019 and has been termed the rise of the super consumers1 we need to update this number. The M2 generation exerts substantial influence over mainstream and other multicultural segments, with African-Americans as a major source of cultural influence and new tech adopters.
A significant proportion of African-American millennials are willing to try (41%) and recommend (68%) new technology (Figure I)1. This demographic group strongly defines mainstream culture and also influences spending trends in the USA. In fact, fifty-five percent of black millennials say they spend an hour or more daily on social networking sites, which is 11% higher than the total millennial population.2 This emphasizes that any marketing campaign targeting millennials must include messages to reach M2s, especially the African-American millennial as they hold an unprecedented influence on the attitudes and consumption habits of non-multicultural consumers.
The fastest growing smartphone use and adoption is amongst African millennials. Half of all Africans are under the age of 20, with those aged 16-34 accounting for $65 billion of the entire continent's $80 billion consumer spending, indicating the potential of these millennials to influence consumer trends and cryptocurrency adoption.
Rising M2 birth rates, increase in buying power and shifting media and brand landscape converge to create a market that is largely untapped, especially across the African diaspora.
The United Nations Conference on Trade and Development Issued a Creative Economy Report defining the creative economy as "the interface between creativity, culture, economics and technology as expressed in the ability to create and circulate intellectual capital, with the potential to generate income, jobs and export earnings while at the same time promoting social inclusion, cultural diversity and human development. "
According to a report from UNESCO and the consulting group EY (formerly Ernst & Young), the creative economy which includes 11 key industries including visual and performing arts, radio, music, film, television, gaming, and advertising employed nearly 30 million people worldwide and generated $2.25 trillion in revenue in 2013 (Figure II).This is substantially more than global telecommunications ($1.57 trillion) and greater than the GDP of India, Russia, or Canada.