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How creators can effectively monetize their content through NFTs
India’s creator economy is said to be growing at 25 percent annually. Despite having millions of aspiring content creators in India, studies show that only 150,000 of them are able to earn or make money. These content producers can explore multiple options for making money from their work. They consist of brand offers, memberships or subscriptions, organising virtual events, promoting affiliate items, offering services, hosting crowdfunding campaigns, pushing memberships or subscriptions, and more. NFTs are one of the most powerful ways to do so.
Monetization through NFTs
Non-fungible tokens, or NFTs, are digital assets that can be tracked and are uniquely identifiable on a blockchain. They are among the most ground-breaking and cutting-edge technological advancements of the last ten years and have several applications. They have undoubtedly created a whole new range of revenue-generating prospects for content producers. Creators can create scarcity and provide unique access to their content by tokenizing their creative efforts. A musician might, for instance, provide early access to new albums or limited-edition NFTs with exclusive access to unheard tracks. A visual artist can similarly provide NFTs for limited-edition works of art and digital collectibles.
NFTs also let content providers to establish their own prices and control their revenue streams. The number of tokens to print, the price they wish to charge, and the location and method of distribution are all up to the content creators. Through direct sales and special offers, this enables creators to commercialise their works in a more effective and transparent manner and to develop relationships with their followers. NFTs additionally give content producers more control over their intellectual property. They can make sure that their works are recorded and safeguarded from unlawful usage by tokenizing their creations.
Another effective way for creators to monetize their content is affiliate marketing which is a type of performance-based marketing in which a business rewards one or more affiliates for each visitor or customer brought to the creators account by the affiliate’s own marketing efforts. Content creators can use affiliate marketing to monetize their efforts by creating content that includes affiliate links and encouraging their followers to click on them. Creating communities also enables content monetization as it gives content creators access to a larger audience while also helping creators create more targeted content. Additionally, it can help content creators establish relationships with brands and sponsors.
Reel Star – Democratizing monetizing for content creators
Reel Star is the first multi-blockchain social media platform in India. It was developed with the revolutionary goal of democratizing access to Web3, metaverse, and future technologies on a global scale. It is trying to build an inclusive, globally connected community of creators and fans. ReelToken (REELT), a blockchain utility token that powers and enables this platform, fosters connections and increases engagement among artists, creators, consumers, and fans in a secure, private environment.
It offers the capability of live streaming, video sharing, peer-to-peer chat, audio video calling, NFT minting, marketplace, and digital wallet. Every level of the media and entertainment sector can use Reel Star’s comprehensive offering of innovative, user-friendly tools for creation, tokenization, engagement, connection, and analytics. Reel Star offers a custom NFT minting and smart contract service in addition to the simplicity of NFT creation offered by its app. The needs of creators at all levels can be accommodated by this concierge service. It offers curated access to both the primary and secondary NFT marketplaces. Reel Star uses cutting-edge technology to ensure that content creators profit the most from their efforts.
Content monetization is an essential part of building a successful business. Today, many platforms help millions of content creators earn a decent living for their work. ReelStar has emerged as one of the pioneering platforms using deep technology in the industry.
ALSO READ: ReelStar associates as Powered By sponsor on the much-awaited Pinkvilla Style Icons awards edition 2
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Cyber Monday 2023: The best extended deals from Amazon, Walmart, Best Buy, Apple and more
As a participant in multiple affiliate marketing programs, Localish will earn a commission for certain purchases. See full disclaimer below*
There is still time for Cyber Monday savings. If you didn’t have time to pick stuff up on Cyber Monday, don’t worry as many of your favorite brands still have extended Cyber Monday sales. Here is every major brand’s extended Cyber Monday and Black Friday 2023 sales that you need to know. Check out best Cyber Monday deals under $100 and best Cyber Monday deals on Amazon.
Deals from top retailers
Amazon’s Cyber Monday event has ended, but there’s still time for holiday shopping with sales up to 71% on all things tech, household appliances and more.
This is your last chance to get the Apple Airpods 2nd Gen for under $100.
The most powerful Beats headphones yet, the Studio Pro is on sale for more than 50%.
Hisense 58-Inch ULED 4K Smart Fire TV
The crisp Hisense TV is on sale for 41% off.
Walmart’s Cyber Monday Deals is live until supplies last, with massive sales on items from Dyson, Sony, Apple and more.
PlayStation 5 Spider-Man 2 Bundle
The PS5 bundle comes with the hit Marvel’s Spider-Man 2 disc for 10% off.
The Xbox Series S bundle comes with an additional Xbox controller and a 3-month Game Pass subscription.
The fan-favorite Bissell Vac-and-Steam All-in-one is on sale for nearly $100 off.
Home Depot is offering Cyber Monday deals online and in stores now through 11/29, with up to 60% off on home appliances.
Best home products deals
Gordon Ramsay’s favorite cookware brand is offering 50% off their excellent pan and pot sets for Cyber Monday 2023.
HexClad 12-piece Cookware Set
At 40% off, you could have Gordon Ramsey’s favorite 12-piece cookware set for the lowest price ever.
Dyson deals are the best, with many of its revolutionary hair products and vacuums now on sale for up to 50%.
Dyson Supersonic Hair Dryer
Dyson’s revolutionary Supersonic Hair Dryer is on sale for the first time this year – grab this excellent product for 25% off.
West Elm is giving 70% off on many of its best luxury furniture for extended Cyber Monday sales.
Roar & Rabbit Geo Inlay Nightstand
This beautiful nightstand is going for 30% off at West Elm.
Solo Stove is the best fire pit retailer on the market, so get their warmth for up to 40% off.
Secure some holiday warmth with the table top Mesa fire pit for 22% off.
Tech and entertainment
Take advantage of Hulu’s amazing Black Friday deal for a limited time! Subscribe to the Hulu (With Ads) plan for 99 per month for one year, current regular monthly price after. Get this deal now by clicking here. Ends 11/28/23. Eligibility restrictions and terms apply.
Best jewelry, clothing and fashion deals
Crocs’ Cyber Week sale are hosting sales up to 50%.
The Classic Clog is a classic for a reason at 25% off.
UNIQLO is having its only sale of the year, with amazing Cyber Week deals for your online shopping experience.
Nordstrom has Cyber Monday deals until midnight tonight, offering up to 82% off across all categories like Nike, UGG, Calvin Klein, Tory Burch and more.
The popular athleisure wear company has a number of great extended Cyber Monday finds, especially in their “We Made Too Much” page for the holiday shopping season.
Best haircare and cosmetics deals
Find deals from Ulta, Sephora and more.
Ulta’s Cyber Monday sales are now live and ends Tuesday November 28th, with up to 50% select beauty products.
The Walt Disney Co. is the parent company of Hulu and this ABC station.
* By clicking on the featured links, visitors will leave Localish.com and be directed to third-party e-commerce sites that operate under different terms and privacy policies. Although we are sharing our personal opinions of these products with you, Localish is not endorsing these products. It has not performed product safety testing on any of these products, did not manufacture them, and is not selling, or distributing them and is not making any representations about the safety or caliber of these products. Prices and availability are subject to change from the date of publication.
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How to Make Money with Custom GPTs and ChatGPT
The new GPT store on ChatGPT is expected to be launched by OpenAI in December, there aere a number of other ways that you can make money with Custom GPTs and ChatGPT as well as the new store. In the dynamic and ever-changing digital world we inhabit, the emergence of Generative Pre-trained Transformers (GPTs), such as ChatGPT, signifies a major leap in the field of artificial intelligence. These sophisticated AI models are rapidly transitioning from being mere technological marvels to valuable assets in the business arena.
Entrepreneurs and forward-thinking innovators are now at the forefront, actively seeking out and experimenting with inventive and effective ways to harness the financial potential of these tools. This article aims to explore and elucidate a variety of practical and groundbreaking strategies. These strategies are not only innovative but also highly effective in tapping into the revenue-generating capabilities of custom GPTs and ChatGPT. We aim to provide a deeper understanding and fresh perspectives, moving beyond traditional methods and applications, thereby opening up new avenues for leveraging these advanced AI technologies in the commercial sphere.
1. Merchandise Sales Powered by GPTs
One of the most direct ways to monetize GPTs is through merchandise sales. For instance, imagine a custom GPT named ‘Sticker WHZ’ designed to create unique sticker designs based on user inputs. Such AI-powered creativity can be a game-changer in the custom merchandise sector. By integrating with platforms like Teespring, the entire process from creation to distribution can be streamlined, offering a novel avenue for e-commerce.
2. Tip Jars: A Simple Yet Effective Model
Tip jars represent a straightforward monetization method. A custom GPT, like ‘Grimoire GPT’, aimed at enhancing specific skills such as engineering, can include a feature allowing satisfied users to leave tips. Digital platforms like ‘Buy Me a Coffee’ and Patreon make it easy to set up and manage these donations, providing a steady income stream for creators and developers.
3. Consultation Calls Facilitated by GPTs
GPTs can serve as powerful lead generators for professional services. For example, a ‘GPT Idea Evaluator’ could offer initial assessments or advice, leading interested users to personalized, paid consultation calls. This approach not only monetizes the GPT service but also leverages its capabilities to enhance a consulting business. Scheduling and payment collection can be efficiently managed through tools like Calendly.
4. Affiliate Marketing: GPTs as Product Recommenders
Affiliate marketing, a well-established online revenue model, can be innovatively integrated with GPTs. These AI systems can be programmed to recommend products or services, embedding affiliate links within their responses. This method adapts well to a variety of niches, including physical goods and online courses, and can be a subtle yet effective monetization strategy.
5. Sponsorships Tailored for GPT Content
Similar to traditional digital content monetization, GPTs can feature sponsored links or product mentions in their outputs. This approach mirrors the sponsorship models seen in digital platforms like YouTube or newsletters, providing an opportunity for businesses to reach audiences through AI-generated content.
Summary
The potential of Generative Pre-trained Transformers (GPTs), particularly models like ChatGPT, in the arena of monetization, is both vast and multifaceted, presenting a rich tapestry of opportunities. These advanced AI tools are not just confined to one or two avenues of revenue generation; they open doors to a multitude of possibilities. From the more straightforward approaches like direct sales, where products or services are sold directly to the consumer, to the incorporation of virtual tip jars, where users can express their appreciation in monetary terms, the scope is wide-ranging. Additionally, the realm of affiliate marketing offers a unique opportunity where these AI tools can recommend products or services, embedding affiliate links to track and earn commissions on sales. Sponsorships, too, present a lucrative avenue, where GPTs can seamlessly integrate sponsored content or product mentions into their interactions, akin to sponsorship models in other forms of digital media.
Moreover, by deeply understanding and strategically leveraging the unique capabilities of GPTs, creators, and entrepreneurs can not only tap into existing revenue streams but also innovate and create new ones. This exploration and utilization of GPTs in commerce and digital innovation can lead to the breaking of new ground, pushing the boundaries of what is possible in digital commerce and AI technology. These AI models, thus, serve not just as tools for income but also as catalysts for unprecedented growth and innovation in the digital economy, redefining the way businesses operate and interact with their customers. The potential is limitless, and the opportunities are only bound by the creativity and ingenuity of those who harness the power of these transformative AI technologies.
Here are some more useful article on ChatGPT and custom GPTs:
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