On October 6, 2025, Instagram unveiled a new awards program designed to honor creators who make significant cultural contributions. The initiative will recognize 25 creators with a custom gold ring, designed by Grace Wales Bonner, and a digital badge on their profiles. Notably, the program does not include any monetary compensation, which contrasts with previous creator payout initiatives that Meta has scaled back in recent years. The decision comes amid a reported 52% decline in brand deals for creators in 2024, highlighting the competitive landscape of sponsored partnerships. Instagram's awards aim to celebrate those who take creative risks and foster community, likening the program to an Oscars-like recognition for content creators, albeit without a formal ceremony. Winners will be announced on October 16.