Instagram introduces new ‘Ring’ award for top creators

Instagram Declaration Monday that it is launching a prize program, next week, 25 manufacturers are ready to get a gold ring. The company has said that the new award program will recognize creators around the world who change culture and break the barrier.

The Judge Panel for the new award program includes Instagram chief Adam Mossi, director Spike Li, designer Mark Jacobs, YouTube Marx Brownley, actress Ira Shaththi, makeup artist Pat McGrath and more.

The winners will find a physical custom ring designed by English Fashion Designer Grace Wales Boner with a digital gold ring around their Instagram profile. They will also be able to design a custom “Like” button displayed when choosing feed posts. Significantly, the winners will not receive any kind of financial awards.

The move has come up with the return of its creator’s payment programs over the past few years. Early this year, The meta off A program that pays manufacturers for advertisements placed on their profiles. In 2023, the The company has stopped giving bonuses To reel manufacturers on Instagram and Facebook. Agency Stop its authorized marketing Bonus in 2022.

The introduction of the new award program also came when the creators declined by 52% in the brand contract in 2021, a survey found that ExceptThe Excessively, the Bank of America said last year that there is a sponsored partnership downturn Space contestSuch more payment partnerships are centered among the top manufacturers.

Given these recent shifts, Instagram is interesting to launch a symbolic reward program that does not compensate for the recipients. Instead, it is focused on creating a prize program that is considered to be the Oscar of the content manufacturers (without actual events).

The company said in a blog post that this award is “those who are not afraid to take creative opportunities and are not afraid to do so in their way. People who combine people more than their creativity and deserve recognition.”

The winners will be announced on October 16.