https://techcrunch.com/2021/10/06/snapchat-revamps-creator-payouts-by-offering-chance-to-win-prizes-with-spotlight-challenges/

As competition for creator talent heats up, Snap today introduced a series of new tools, programs, and features that will enable creators on its platform to generate revenue. These include the expansion of a Gifting feature to worldwide creators, the expansion of the Creator Marketplace to include Snap Stars (top creators with verified accounts), the launch of a how-to resource called the Creator Hub, and a new way for Snapchat creators to be rewarded for making short-form video for its in-app TikTok rival, known as Spotlight.

The latter, called Spotlight Challenges, will offer cash prizes for top-performing Spotlight content, as directed by Snap itself. This is different from other social apps’ Creator Funds, which pay out based on metrics like views and engagement to anyone who qualifies. Instead, this is a “chance” to win cash where each individual challenge will reward an average of 3 to 5 creators as the winners — though sometimes that figure will be more or less, Snap notes. The minimum prize will be $250. Typically, the total prize pots for individual challenges will range from $1,000 to $25,000, but Snap says it may sometimes offer a larger sum.