creator economy is a term inseparable from discussions related to the decentralized world network 3 also in the wave NFTyou non-fungible token. This ecosystem brings together businesses related to the influencer world and is going through a new phase full of possibilities, opportunities and technologies that will support the growth of an industry expected to surpass R$9 billion in global sales in 2022 alone. develop.
There must be two important concepts to support this expectation, namely the possibility of using NFTs as a way to connect with followers and fans, and a greater scope for creators and real-time commerce, which are still small, medium and Essential tools for large influencers. . According to a YouPix article published last March, NFTs will allow creators to monetize content or products directly.
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For example, last year creator Grimes made $6 million by selling short videos, while youtuber Logan Paul made $5 million through NFTs using his image, which is a much higher value. Cintia Ferreira, founder of the EVE Initiative, an organization that promotes and develops NFTs, explained that the use of tokens could revolutionize the creator economy as it directly connects idols with their fans. “Not only does it bring the two together, but it also allows the establishment of new forms of interaction and two-way communication. In the current scenario, on Web2, this relationship is fundamentally determined by a platform that dictates how this communication is Forms and constraints. Content producers are often forced to change their style to suit the app or website’s algorithms and strategies,” he explained.
According to Cintia, creators can already use the tokens in a number of ways. “For example, you can make digital art (NFT) and sell it directly to your fans. This is a way for the fan base to financially support their idols. Idols can use this NFT to return benefits to their community, products, exclusive communication channels, and more,” explains Cintia.
“As NFTs flourish, the market has been paying attention to changes that increasingly emphasize the importance of authorship and exclusivity when creating and marketing digital art. This extends to a new business model that has dictated digital New behavior in the environment, as demand has started to appear on social networks. Recently, Instagram announced that it will start testing NFTs within the platform, so influencers will be able to create their own NFTs. So soon, these creators and influencers are currently Multiple discount codes distributed may be replaced by tokens or sequences of numbers created specifically for each of these actions. In a similar way, NFTs give a sense of belonging and authenticity that have historically given each Fans are happy and have high market value. But if all these initiatives are limited to an already dominant group, it won’t work. A more creative economy must inherently involve diversity”, Black Influence CEO Ricardo Silvestre explained.
Social tokens as a business alternative
One of the popular concepts in NFTs is social tokens. A cryptocurrency used to monetize communities and relationships. “Creators can easily use the platform and create their personal tokens. In this way, fans and idols can free themselves from the current platform and establish a direct way of communication that they have the right to build. Rules and rewards. Contrary to what happens today where only idols get paid, in this new situation it is possible for fans and idols to create their own economy, and both parties can benefit financially from this relationship.” added Cintia Ferreira .
Recently, former Brazilian national team player Roberto Carlos launched a token called $RC3. According to the athletes themselves, the idea is to provide new experiences that share value, opportunities, merchandise distribution and benefits with the fan community. Ana Paula Passarelli, co-founder and COO of Brunch, explained that this effect is directly related to the over-mediation of work by creators at all stages from creation to project placement. “Whether in visual arts, music or content, there are a lot of agencies that are not strategically added. For example, some works go through more than five middlemen to reach the end customer,” Passarelli explained.
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“The migration of content production to NFT formats helps to greatly reduce this intermediary for partners who are strategically effective in the process, potentially reducing operating costs and increasing the value of creator work, making it more accessible to the public The .NFT format also offers communities and creators a new loyalty-based business relationship, in addition to being secured by the blockchain,” the Brunch executive emphasized.
For example, she explained that content creators, writers and screenwriters working in the script room can create NFTs with references for other screenwriters or storytellers. “Unlike traditional business processes where he remains the author but negotiates the ownership of his work with intermediaries, in the NFT marketplace he can exclusively sell his content, transferring ownership directly to his community , and by building your own client portfolio,” Ana concludes.
“It’s too early to know where the use cases for NFTs will actually be integrated. However, you can already make some strong guesses. As far as fashion and style-related brands are concerned, paths are their most iconic works to create a limited digital version”, says neuroscientist Professor Álvaro Machado Dias. “The idea is that these pieces are used by avatars in different virtual worlds and can be sold together with certificates of authenticity registered in the blockchain (NFT).”
What are the inspirations for creators to use NFTs in the fashion industry?
In Brazil, there are already several examples of creators involved in this universe. Felipe Neto, Nobru and Whindersson Nunes are some of the key figures already involved in the country. “The last on this list even launched a series of NFTs at the beginning of the year in the fight against Popó, fueling a controversy that garnered a lot of attention in the media and on social networks. The common denominator is that they are involved in a community that embraces new ideas from creators ,” said Felipe Oliva, Squid’s chief executive.
“This topic itself is a matter of debate in advertising and marketing. Whether you are an advocate or critic of NFTs, there is no denying that it exists, is important, and can be a new source of creativity, engagement, and good results for companies. Beyond the perception of digital assets, the focus should now be on what really matters: the community. It is at this point that influencer marketing proves to be fundamental, as it offers the potential to turn this potential into obvious necessary tools”, Felipe emphasizes.
Read more: Would you create an NFT for yourself?
For Spark founder and CEO Raphael Pinho, NFTs are another way for creators to monetize their work through the metaverse, have more control over it, and be closer to their fans and followers Way. “As a blockchain-based technology that does not use intermediaries, NFTs can guarantee greater profits for influencers and creators, while adding value to content ownership. In this way, from creators will no longer be completely The dynamic changes from the moment the brands that rely on them are employed to publish. The most valuable NFTs today are tied to the experience, in the sense that creators are a strong force for their followers and the community around them The creator of desire.”
Mass live broadcast
Etienne Du Jardin, co-founder of Mimo Live Sales, emphasizes that, when it comes to online commerce, the democratization of technology is crucial to boosting the market and demand. “This way, in addition to driving economic decentralization, content creators, decision-making influencers and regular people with high engagement will be able to make a lot of money. For example, through real-time commerce, brands and influencers can connect Consumers and revenue create premium content. Brands that will communicate properly with specific audiences will win, influencers will win and they will be able to directly negotiate their percentage of sales, and consumers will win and they will have content that actually speaks to them. In terms of numbers For creators, their intellectual and artistic capital has never been negotiated for so many expansion opportunities,” he stressed.
“Just as social networks emerged in the early 2000s, we are now watching the evolution of NFTs, web3 and other technologies. There are new channel paths, new possibilities for interactions and conversations, and new media where we use influencers as a medium Format. Interactions between audiences and influencers will infer the social media bubble. We see games and cryptocurrencies gain a lot of space, and machine learning and artificial intelligence will be able to make content recommendations in a decentralized manner, and much faster than current Vehicles are more precise”, concludes Flávio Santos, CEO of Mfield and author of the book. affect the economy”.