Instagram announced On Monday that a prize program is launching, with 25 creators getting a gold ring next week. The company says the new awards program will recognize creators around the world that shift culture and break obstacles.
The team of referees for the new awards program includes Instagram leader Adam Mosseri, director Spike Lee, designer Marc Jacobs, YouTuber Marques Brownlee, actress Yara Shahidi, makeup artist Pat McGrath and much more.
The winners will receive a natural custom ring designed by English fashion designer Grace Wales Bonner, along with a digital gold ring around the Instagram profile. They will also be able to design a custom “such as” button that appears when you like power suspension. Specifically, the winners will receive no monetary prize.
Movement comes as Meta has reduced the creator’s payment programs in recent years. Earlier this year, Transgression A program that paid creators for ads placed on their profiles. In 2023, the company stopped offering bonuses to cylinder creators on Instagram and Facebook. The company too Finish his subsidiary marketing Bonus in 2022.
The start of the new awards program also comes as the creators saw a 52% reduction in brand agreements in 2024, according to a survey of Cadet. In addition, Bank of America said last year that along with the deceleration of corporate relationships, there are Competition in spaceas most corporate relationships gather among the top creators.
Given these recent shifts, it is interesting to see Instagram launch a symbolic awards program that offers no financial compensation to recipients. Instead, it focuses on creating a prize program that is supposed to be like Oscars for content creators (without actual ceremony).
The company told the blog post that the prize is “all about celebrating those who are not afraid to get creative chances and do it in their own way. Those who bring people together and deserve recognition.”
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The winners will be announced on October 16th.
