Content creators can creat value by NFT
Contribution of NFTs to Content Creators
The internet is the largest global marketplace, and it thrives on creativity.
Content creation is what keeps everything and everyone ticking. It ranges from technology to arts to sports down to food. Everyone feeds on some form of content when they browse the internet.
Therefore, content creators should make a killing off their creations, right? Well, the reality is that is not often the case.
Due to traditional business models, some intermediaries profit from the works of these creators. Also, anyone can efficiently plagiarize anything on the internet and pass it off as theirs.
The above reasons are why NFT is essential for content creators, and it is an absolute game-changer.
NFTs enable content creators to sell their content directly on a dedicated digital marketplace. They have control over their content, and when they sell it, they transfer ownership rights to the buyer.
Every NFT is unique — there is only one copy of it. This feature makes it appealing for potential buyers, who can buy to own them or sell them off later on.
Different content creators have defined how they want their NFTs to be sold, each in their distinct way.
Beeple, a visual artist, had an NFT of his work sold for $69 million. He had amassed a large fan base of almost 3 million followers on social media. Also quite productive, for the project, “Everydays,” he created digital art every day.
For musicians, Daniel Allan, an electronic-pop artist, has been trading digital replicas of his songs as NFTs for thousands of dollars.
Tom Bilyeu, a businessman, has a podcast called “Impact Theory.” He sold NFTs as merchandise, tickets to live events, and access to some deals.
Generally, every content creator can monetize their content at 100% profit through NFTs, and they can directly sell their content to buyers without hassles or cuts.
Once a sale occurs, the creator transfers their intellectual property right to the buyer, and this ownership right is verified on the blockchain network.
Downsides of NFTs for Content Creators
NFTs have many benefits for content creators. However, there are some downsides it comes with.
Naturally, sales are a numbers game. That being said, selling your NFT quickly or for vast amounts as a content creator often depends on how large your following is.
People can only want to buy your NFT if they’ve heard about you or seen your content.
Therefore, content creators often have to market their NFTs. Marketing strategies for NFTs include Search Engine Optimization (SEO), community associations, influencer marketing, campaigns, email marketing, etc.
Such procedures can be expensive, stressful, or time tasking, all without guaranteeing that the NFTs would get sold.
Another issue with NFTs that might affect content creators is price instability. Many issues affect the price of NFTs, with the most important one being FUD (fear, uncertainty, and doubt.)
Content creators should also ensure not to infringe any intellectual property laws. Abiding by the rules of the NFT marketplace is essential, as any violation can result in legal action against them.
Content creators are well placed to immensely benefit from NFTs. This is because it gives them complete control over their work and total returns on the profit when sold.
Nonetheless, NFT remains a relatively new concept which means it still has some flaws.
Every content creator who wants to enjoy the benefits of NFTs has to be equipped with the necessary information and do sufficient market research.
Pacific is a decentralized NFT marketplace and an integrated platform for metaverse/GameFi assets. The project has received endorsement from some of the most eminent institutions and investors, including the Web3.0 Foundation, NGC, Gate.io, Krypital Group, PAKA, Candaq etc.