TikTok's Billion Dollar Creator Fund is gone #creator #tiktok #deso

TikTok is shutting down its 2 billion dollar creator fund and its yet another example of how these social media giants are failing creators, here’s what you need to know.

The creator fund was announced in 2020 as a way for short-form content creators to get paid for their videos.

However, many creators have [criticized TikTok and the fund](https://www.businessinsider.com/how-much-money-tiktokers-earn-from-creator-fund-daily-rates-2022-8?r=tiktok-creators-lp), saying it was not that lucrative for them and that they earned “mere pennies” for their viral videos.

And to make matters even worse, it turns out TikTok was storing creator’s data from the fund on Chinese servers, despite promising it wouldn’t.

This is yet another reason why we need new social platforms that were built from the ground up to properly compensate creators for their work. Advertising revenue and creator fund payouts simply aren’t enough.

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