Monetisation and Digital Entrepreneurship

This chapter briefly explores some of the monetisation strategies of Web 2.0 social media entertainment platforms such as YouTube before it defines blockchain 'smart contracts', NFTs and DAOs, which are underlying elements of the emergent Web 3.0 environment. Next, it highlights three Australian enterprises applying blockchain applications in innovative ways, illustrating the importance of monetisation and digital entrepreneurship in the creative industries. Such trends are disrupting the legacy media and communication industries as well as developments across the digital economy. However, their decentralised initiatives and structures signal an acute need for increased regulations and consumer protection, which organisations such as Blockchain Australia are spearheading via public policy research and advocacy.