While the world of Web3 is still a relatively new trend, it has successfully made an impact on the eCommerce market and a huge number of social media influencers. It has become so difficult to resist that several creators have already started experimenting with several Web3 digital products.
With the multi-million dollar brands that several creators have already made through Web3 digital products, many believe that the market is now well-suited for innovation.
But how exactly can social media creators and influencers leverage the power of NFTs? According to Forbes, there are three ways:
- Convert existing content to NFTs.
- Create unique and new content for NFTs.
- Link NFTs with other products and services.
Many huge celebrities have also started investing in NFTs. These include:
- Rapper Snoop Dogg under the pseudonym Cozomo Medici amassed a wallet with over $17 million worth of NFTs.
- Singer Shawn Mendes sold wearables of his vest, necklace, earrings and a virtual guitar.
- Musicians like Ariana Grande, The Weekend and ABBA have taken the virtual stage.
It’s clear that NFTs are not going anytime soon. As such, brands, creators and influencers should learn to consider how NFTs can work best for them. One potential use of NFTs for businesses is for online advertising campaigns. These can be distributed across different digital platforms and monetized multiple times.
Web3 also offers exciting opportunities for brands to integrate NFTs into their influencer marketing strategy. This could also result in a lower upfront investment for businesses since the new compensation structure would include NFT profits. By eradicating the issue of traceability, brands can accurately monitor the impact of NFTs on their influencer marketing campaign.
To cut it short, it’s safe to say that our society is now ready to walk towards the world of metaverse. With NFTs providing great opportunities for brands and creators alike, they can now easily monetise their audience while providing value to them.