Instagram launches global creator awards with custom gold rings, no cash prize

Instagram announced on Monday that it is introducing a new global awards programme to honour 25 creators who have made a cultural impact and challenged creative boundaries. The winners, set to be revealed next week, will receive a custom gold ring as a symbol of their achievement.

The judging panel for this inaugural programme includes a mix of high-profile figures from across industries: Instagram head Adam Mosseri, filmmaker Spike Lee, fashion designer Marc Jacobs, tech YouTuber Marques Brownlee, actress Yara Shahidi, and makeup artist Pat McGrath, among others.

Each winner will receive a physical ring designed by British fashion designer Grace Wales Bonner, along with a digital golden ring around their Instagram profile. They will also be able to design a custom “Like” button that appears when others engage with their posts. However, there will be no monetary prize attached to the award.

The launch of this symbolic awards initiative comes at a time when Meta, Instagram’s parent company, has been scaling back its creator payment schemes. Earlier this year, Meta discontinued a programme that paid creators for ad placements in their profiles. In 2023, it ended bonuses for Reels creators on both Instagram and Facebook, and shut down its affiliate marketing bonuses the year before.

The shift also reflects broader challenges in the creator economy. A 2024 survey by Kajabi found that brand deals for creators dropped by 52 percent, while a Bank of America report noted that sponsorships and paid partnerships have become increasingly concentrated among top-tier creators.

Against that backdrop, Instagram’s new initiative focuses more on recognition than revenue. The company described the awards as being “all about celebrating those who aren’t afraid to take creative chances and do it their way. Those who bring people together over their creativity, and deserve recognition.”

Instagram likened the programme to the Oscars for content creators, though without a physical ceremony. The winners will be announced on 16 October.