SOCIAL
Meta Launches New NFT Display Options on Facebook
Just when you thought the NFT hype was dying down, Meta’s looking to stoke the embers once again, with the introduction of new NFT display options on Facebook.
As you can see in these screenshots, posted by Meta product manager Navdeep Singh, Facebook users will now be able to create custom NFT posts, with a ‘Digital Collectible’ tag, while profiles will also have a new, dedicated NFT section to show off your non-fungible artworks.
As with Instagram, which launched the first stage of its NFT support program back in May, when users tap through on these images, they’ll be able to see who owns the artwork, and who created it, along with a brief description of the piece.
The information is sourced via the NFT detail listed on the public blockchain, with Facebook set to provide support for Ethereum, Polygon, and all the major exchanges, and NFT owners able to connect their Rainbow, Trust Wallet and MetaMask accounts to verify NFT ownership.
That is, of course, if all of those exchanges and tools are still in operation.
NFTs, as with all crypto-aligned projects, are suffering a major downturn at the moment, which is largely reflective of broader economic trends, but has hit speculative financial products the hardest.
As you can see in this Google Trends chart, consumer interest in NFTs is waning, while The Wall Street Journal recently reported that there’s been a 92% decline in NFT sales since September last year.
Trust in NFTs as an investment opportunity has also been impacted by a range of rug pulls, scams and exploits, which have seen many early investors lose thousands, even millions in some cases.
The core idea – that digital items will become a much bigger thing in the metaverse future – has merit, and there’s no doubt that, eventually, people will be buying more digital items that don’t exist in real life, in order to showcase status and personality in the virtual realm. But profile pictures of monkeys? Maybe not.
Either way, Meta sees NFTs as a stepping stone, and another foundational element in its metaverse shift, which is why it’s keen to push ahead with its NFT projects, regardless of the general public status.
Which is why Meta is also experimenting with an NFT marketplace, that would facilitate the sale of virtual items in its apps.
That’s where it sees real value and utility, providing direct connection between its current platforms and the metaverse, with users then able to buy and display their virtual items, which could then lead others through to its next-level digital experiences.
Indeed, Meta CEO Mark Zuckerberg has talked up the potential of NFTs, and the expanded role that digital goods will play in the coming Metaverse shift. In this sense, it’s less about what NFTs are right now, and more about what they represent, and it’ll be interesting to see how users might eventually look to showcase their digital items on their Facebook and Instagram profiles.
But it’s not available to all users just yet. Meta says that it’s conducting a ‘slow rollout’ of its Facebook NFT tools, starting with a ‘select group of creators in the US’, before expanding to other regions.
So you won’t be seeing an influx of badly drawn profile pictures on Facebook just yet, but you may see it ramp up over time, with a range of digital items on show.
SOCIAL
Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?
In a recent announcement, Snapchat revealed a groundbreaking update that challenges its traditional design ethos. The platform is experimenting with an option that allows users to defy the 24-hour auto-delete rule, a feature synonymous with Snapchat’s ephemeral messaging model.
The proposed change aims to introduce a “Never delete” option in messaging retention settings, aligning Snapchat more closely with conventional messaging apps. While this move may blur Snapchat’s distinctive selling point, Snap appears convinced of its necessity.
According to Snap, the decision stems from user feedback and a commitment to innovation based on user needs. The company aims to provide greater flexibility and control over conversations, catering to the preferences of its community.
Currently undergoing trials in select markets, the new feature empowers users to adjust retention settings on a conversation-by-conversation basis. Flexibility remains paramount, with participants able to modify settings within chats and receive in-chat notifications to ensure transparency.
Snapchat underscores that the default auto-delete feature will persist, reinforcing its design philosophy centered on ephemerality. However, with the app gaining traction as a primary messaging platform, the option offers users a means to preserve longer chat histories.
The update marks a pivotal moment for Snapchat, renowned for its disappearing message premise, especially popular among younger demographics. Retaining this focus has been pivotal to Snapchat’s identity, but the shift suggests a broader strategy aimed at diversifying its user base.
This strategy may appeal particularly to older demographics, potentially extending Snapchat’s relevance as users age. By emulating features of conventional messaging platforms, Snapchat seeks to enhance its appeal and broaden its reach.
Yet, the introduction of message retention poses questions about Snapchat’s uniqueness. While addressing user demands, the risk of diluting Snapchat’s distinctiveness looms large.
As Snapchat ventures into uncharted territory, the outcome of this experiment remains uncertain. Will message retention propel Snapchat to new heights, or will it compromise the platform’s uniqueness?
Only time will tell.
SOCIAL
Catering to specific audience boosts your business, says accountant turned coach
While it is tempting to try to appeal to a broad audience, the founder of alcohol-free coaching service Just the Tonic, Sandra Parker, believes the best thing you can do for your business is focus on your niche. Here’s how she did just that.
When running a business, reaching out to as many clients as possible can be tempting. But it also risks making your marketing “too generic,” warns Sandra Parker, the founder of Just The Tonic Coaching.
“From the very start of my business, I knew exactly who I could help and who I couldn’t,” Parker told My Biggest Lessons.
Parker struggled with alcohol dependence as a young professional. Today, her business targets high-achieving individuals who face challenges similar to those she had early in her career.
“I understand their frustrations, I understand their fears, and I understand their coping mechanisms and the stories they’re telling themselves,” Parker said. “Because of that, I’m able to market very effectively, to speak in a language that they understand, and am able to reach them.”Â
“I believe that it’s really important that you know exactly who your customer or your client is, and you target them, and you resist the temptation to make your marketing too generic to try and reach everyone,” she explained.
“If you speak specifically to your target clients, you will reach them, and I believe that’s the way that you’re going to be more successful.
Watch the video for more of Sandra Parker’s biggest lessons.
SOCIAL
Instagram Tests Live-Stream Games to Enhance Engagement
Instagram’s testing out some new options to help spice up your live-streams in the app, with some live broadcasters now able to select a game that they can play with viewers in-stream.
As you can see in these example screens, posted by Ahmed Ghanem, some creators now have the option to play either “This or That”, a question and answer prompt that you can share with your viewers, or “Trivia”, to generate more engagement within your IG live-streams.
That could be a simple way to spark more conversation and interaction, which could then lead into further engagement opportunities from your live audience.
Meta’s been exploring more ways to make live-streaming a bigger consideration for IG creators, with a view to live-streams potentially catching on with more users.
That includes the gradual expansion of its “Stars” live-stream donation program, giving more creators in more regions a means to accept donations from live-stream viewers, while back in December, Instagram also added some new options to make it easier to go live using third-party tools via desktop PCs.
Live streaming has been a major shift in China, where shopping live-streams, in particular, have led to massive opportunities for streaming platforms. They haven’t caught on in the same way in Western regions, but as TikTok and YouTube look to push live-stream adoption, there is still a chance that they will become a much bigger element in future.
Which is why IG is also trying to stay in touch, and add more ways for its creators to engage via streams. Live-stream games is another element within this, which could make this a better community-building, and potentially sales-driving option.
We’ve asked Instagram for more information on this test, and we’ll update this post if/when we hear back.
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