Instagram announced on Monday the launch of a new “Rings” award that will give 25 creators a literal gold ring and a matching badge on their profile, but no cash.
Winners will be chosen by a panel including Instagram chief Adam Mosseri, filmmaker Spike Lee, designer Marc Jacobs and YouTuber Marques Brownlee.
The move comes as Meta-owned Instagram has wound down its creator bonus program and brand deals are slowing across the industry, raising the question of why one of the world’s richest companies is offering jewelry and profile features instead of direct payouts.
“It’s more about a special visibility and sort of incentive for people to work towards a really cool elevated recognition,” Brownlee told CNBC.
He said he nominated creators whose work showed the most effort and risk-taking, not simply those with the biggest followings.
Winners can also change their profile backdrop color and customize the “like” button.
Meta ended its Reels Play bonus program, which was a key source of income for many creators, on Instagram and Facebook in 2023. At the time, some vented online that losing the payments left them struggling.
“As stupid as it sounds, in this economy it was a blessing for my household to have the extra money coming in,” wrote a user on Reddit.
Mosseri said in June 2024 that the company is considering changes to creator compensation, but no new plan has been announced.
Rivals YouTube and TikTok have their own creator revenue share programs.
YouTube paid out over $100 billion to creators over the last four years, the company reported in September.
Creators saw a dramatic drop in brand deals in 2024, falling 52%, according to a survey from Kajabi.
In January, Meta was offering deals to creators to promote Instagram on TikTok, Snapchat and YouTube, CNBC reported. However, an Instagram spokesperson said these deals had ended.
Against that backdrop, Instagram’s new gold rings stand out as a symbolic gesture rather than direct financial support in an increasingly challenging creator economy.
“This could be looked at as an incentive to make more Instagram stuff, or really just an incentive to make the best possible thing you can and hopefully get recognized for it,” Brownlee said. “No matter where you’re doing it, it feels good to know that it resonates with people, this is inspiring people, or this is impressing people.”
