Yes, You Do Want to Buy Your Favourite Influencer’s NFTs, and Here is Why
We all have our favourite content creators on Social Media sites like Instagram, TikTok or YouTube, and like us, you will no doubt like, comment on and share their content regularly. You might even buy the products and services that they recommend, and you have no doubt they make these recommendations because that is how they make a living.
Well, that is about to change. There is a revolution coming that will completely rewrite the rule book on how content creators monetise their talent and interact with their followers, like you. Conversely, this means there will be all sorts of new opportunities for you to interact with them in ways that will benefit creators and consumers alike.
Here is what you need to know about how the new creator economy benefits you, the content consumer.
Say hello to my little friend
Many of you will have heard of these strange things called NFTs that suddenly appear to be all the rage. But to explain an NFT adequately, I need to step back a bit and talk about the blockchain in general. So, here is your quick 101 on this exciting new world.
A blockchain is nothing more than a long list of transactions stored as data. A long time ago, probably before you were born, people used to write transactions down in a special book called a ledger. They also used to meet their friends on time because they couldn’t cop out with an SMS. Anyway, everytime a transaction happens with a digital currency, that transaction is noted in a digital file called the blockchain, just like the ledgers of old. Once it’s noted it cannot be changed or altered. There is no tippex. You can’t argue with the blockchain. You can’t edit it like you can a database. That is what makes it so secure.
You might have heard of Bitcoin and Ethereum. These are tokens which can be transacted and sent from one digital wallet to another. Every time they are, the change of ownership is noted in the blockchain. It’s actually quite simple once you get past the gobbledegook.
So what is an NFT? It is a unique digital asset and its ownership is noted on the blockchain. There can only be one of them and there can only be one owner. If you own one, no one can take it away from you.
NFTs are also really clever. They can store lots of information. They can be programmed to react to events. They can act as a key to a digital door that only holders of that NFT can pass. They can even store media files such as images or video, and this is what makes them so valuable for content creators and fans alike.
Is an NFT valuable?
If it represents something that people want, then yes, an NFT can be very valuable. Don’t think so much about what the NFT is in a literal sense, think about what it means or represents. For example, imagine this Instagram post from Jennifer Aniston:
The Friends reunion (AKA The One Where They Get Back Together) was a massive event. The movie broke viewing records around the world. Jennifer Anniston’s Instagram post was liked 16.5 million times, making it the 15th most liked Instagram post ever. Now, imagine if Jennifer turned that post into an NFT. Only one human being in the world would own the rights to that post. Imagine how much that would be worth? Now imagine if you could buy moments in the past directly from your favourite content creators and have the exclusive right to that post, until you sell it on, possibly for a considerable profit.
You bet an NFT is valuable. Just ask Beeple!
But, it’s a JPEG — can’t someone just save it to their computer?
Indeed, anyone can find an NFT, perhaps on one of the marketplaces like opensea.io, right click it, and then save the image to their computer. They can enjoy the image. But they won’t own it. You will.
This asset is owned by you because the blockchain says it is. That information cannot be changed. When someone goes to an NFT Marketplace (which will find all the NFTs out there, like a search engine), it will say it is yours. If someone offers to buy it and you agree, only you can get the funds.
For a real world analogy, try this. Anyone can own a print of the Mona Lisa. But there is only one original, and in fact in the world of NFTs, it is easy and foolproof to prove which digital asset is indeed the original.
Why would someone buy my NFT?
Probably for the same reason you did! There are lots of people out there that like to collect things. And if they can be the only person in the world who owns the rights to one of the most liked Instagram posts ever, then for many that would be tempting. In fact, as the idea of minting Instagram posts as NFTs takes off, we expect many collectors will start hoovering them up, filling their collections with unique moments in time. This means that all the value, history, meaning in that moment is kept in one place alone.
The chances are high that if you found it valuable, other collectors will too.
Welcome to the Creator Economy
And so to original point I made at the top of this article. How does the advent of NFTs change how you interact with your favourite content creators? We have already discussed that you can actually buy content directly from them via an NFT marketplace. But there are other ways too.
On the Clout.art platform, you can to all intents and purposes invest in content creators. Clout.art uses a blockchain token called SWAY.
$SWAY acts just like money in that you can invest it in your content creators and receive a portion of revenue from the sale of NFTs by that creator. You can share directly in their success If you pick the right horse those returns could be very lucrative.
Blockchain is driving change in the way content creators monetise their efforts that was until recently unimaginable. These changes offer consumers and collectors opportunities to connect with and support content creators directly without involving third parties, and without forcing creators to bend their message to receive sponsorship.
The Creator Economy changes everything. Now, go and buy an NFT!
Clout.art powers the creator economy of the future by turning the most valuable content, such as your most successful Instagram posts, into unique NFTs. As a microservice, a marketplace, and a staking platform, Clout.art is where creators and fans come together to create, grow or exchange social capital through the $SWAY token.