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TikTok Looks to Get in on the NFT Craze with its Own NFT Collection

Published

3 years ago

September 30, 2021

tiktok looks to get in on the nft craze with its own nft collection

With a wide assortment of NFTs gradually infiltrating all social media apps, several platforms are now looking to lean into the trend, either by facilitating NFT display, or by creating their own digital artworks for sharing within their communities.

And now, TikTok is taking another approach to the digital art trend, with the launch of a new collection of ‘TikTok Top Moments’, which will enable people to own a piece of web culture, created by some of the platform’s most popular stars.

As explained by TikTok:

“TikTok Top Moments features a selection of six culturally-significant TikTok videos from some of the most beloved creators on the platform. These featured creators, renowned for their cultural impact, have partnered with prominent NFT artists on one-of-one and limited edition NFTs that will include real-world redeemable value provided by the creator.”

It’s not the first social platform to launch its own NFT collection, with Twitter releasing a set of custom digital artworks earlier this year. But the unique element in TikTok’s approach is that the sale of their NFTs will benefit the creators involved, with the proceeds ‘largely’ going direct to the creators.

“Building on our commitment to helping creators achieve their goals in the growing creator economy, TikTok NFTs provide a way for creators to be recognized and rewarded for their content, and for fans to own a culturally-significant moment on TikTok.”

What, exactly, these new NFTs will be is not entirely clear, but each of the unique moments will go to auction, while additional, limited edition NFTs will be released weekly throughout October.

“The limited edition NFTs will be sold at accessible price points to ensure each creator’s audience can own a piece of their history.”

Which is important, because many NFTs are selling for thousands, even millions of dollars, as collectors with an eye to the future seek to buy up a piece of cultural history, which, like traditional art pieces, will ideally accrue in value over time.

Though it’s likely hard for anyone outside of the crypto/NFT sector to truly understand the whole process, especially with descriptions like:

“…minted and traded with zero gas fees on Immutable’s Layer-2.”

There’s a lot to go over in this respect, but the basics are that NFTs are digital artworks that can be owned by a single entity, with the ownership data stored on the Ethereum blockchain (generally), ensuring that there’s distinct identification for each piece, which then governs usage.

The easiest way to think of this is like traditional art – you buy a painting by a famous artist, and you then have a level of control over how that artwork is used and displayed (through commercial usage is limited, unless explicitly included in the purchase).

And really, you’re purchasing more than the physical art in this respect. It’s an investment, and a status symbol, all-in-one – which, right now, is a key element in the rise of NFTs, as digital collectors look to get in on the trend, and show off their pieces online.

Which is why both Twitter and Instagram are working on new NFT display options, so that users can present their purchases on their profiles, and given TikTok’s interest in the same, it seems likely that it too will eventually look to integrate NFT display options into its profile tools as well.

But right now, TikTok ‘Top Moments’ is where it’s starting. And by re-angling it as a creator monetization option, it could eventually lead to TikTok providing a more direct pathway for all creators to easily transfer their best TikTok clips into sellable NFTs, adding more options for them to generate income from their efforts.

That does depend on the NFT trend holding, and it’s too early to say how their popularity will hold up over time. But as TikTok seeks more ways to help creators make money, in order to keep them posting to the platform more often, it could be a smart pathway to pursue, in alignment with its brand partnership and eCommerce integrations.

You can stay up to date with the TikTok Top Moments Collection on the dedicated Immutable X site.

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Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?

Published

1 month ago

March 18, 2024

Max

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.

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Catering to specific audience boosts your business, says accountant turned coach

Published

2 months ago

February 26, 2024

Entireweb News Bot

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.

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Instagram Tests Live-Stream Games to Enhance Engagement

Published

2 months ago

February 26, 2024

Entireweb News Bot

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.