Instagram introduces the new “Ring” award to senior creators

Instagram Declare On Monday, the prizes are launched, with 25 creators to receive a golden ring next week. The company says that the new award program will recognize creators around the world who change culture and break the barriers.

The Referees Committee of the New Awards Program includes Adam Musairi, director Spike Lee, designer Mark Jacobs, YouTube Marquez Braonley, actress Yara Shahi, makeup artist Pat McGrath, and more.

The winners will receive a physical custom episode designed by Grace Wales, English fashion designer, along with a digital golden episode about their Instagram file. They will also be able to design a dedicated “Like” button that appears when you like nutrition posts. It is worth noting that the winners will not receive any kind of cash prize.

The move comes at a time when Meta is expanding initial payment programs over the past few years. Earlier this year, Closed Program for creators for ads placed in their personal files. In 2023, and The company stopped offering bonuses To raise creators on Instagram and Facebook. The company also Close its marketing Rewards in 2022.

The launch of the new award program also comes as creators witnessed a 52 % decrease in trademark deals in 2024, according to a survey of Kajabi. In addition, Bank Of America said last year that besides the slowdown in propaganda partnerships there Competition in spaceWhere more partnerships are concentrated among senior creators.

Given these modern transformations, it is interesting to see Instagram running a symbolic prizes program that does not provide any cash compensation for the recipient. Instead, it focuses on creating a prizes program that is supposed to be like an Academy Awards for Content Citizens (without an actual party).

The company said in a blog post that the award is “everything about celebrating those who are not afraid to take creative opportunities and do so. Those who collect people about their creativity, and deserve recognition.”

The winners will be announced on October 16.