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

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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.

TikTok Top Moments header

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.

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“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.

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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.

Socialmediatoday.com

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Snapchat Publishes New Report into the Importance of Privacy Tools in Facilitating Online Sharing

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Snapchat Publishes New Report into the Importance of Privacy Tools in Facilitating Online Sharing


Snapchat has published a new report which provides some deeper insight into the importance of online privacy, and the key concerns that users have in regards to the content that they share online.

The report, based on a survey of over 13,500 people in 11 markets, uncovers some valuable considerations for both platforms and marketers, and reinforces the logic behind some of the latest social app developments, in regards to increased user control, encryption, and more. It also sheds light on how such controls – or the lack of them – can influence people’s behavior online.

It’s an interesting overview – you can download Snap’s full, 28-page report here, but in this post, we’ll take a look at some of the key points.

First off, Snap notes that both Snapchatters and non-Snap users are concerned about online privacy, with 81% of respondents noting that online privacy is important. At the same time, only 65% indicated that they’re satisfied with their current privacy options.

That’s a key gap in the current digital connection process which underlines the need for increased control measures on this front, and more options, like private messaging and audience controls, to help reassure users.

Which is the next key point – the report highlights the three key benefits of digital privacy, based on responses.

Snapchat privacy report

Each aspect facilitates more open communication, and without relevant measures in place, social platforms are not able to cater to these needs.

Self-expression is one of the most important elements, with users feeling more free to communicate when they’re comfortable with the available privacy tools and options.

Snapchat privacy report

Indeed, the majority of respondents indicated that privacy concerns impact what they share online, and how they communicate.

Snapchat privacy report

It’s an interesting consideration – originally, with the arrival of MySpace, Twitter and Facebook, there was a new sense of freedom and capacity to share your voice, and connect with like-minded people around the world, based on shared interests. Over time, that’s gradually shifted, as more controversies and concerns have arisen from over-sharing or past post insights, which has seen more people become more enclosed once again, and shy away from public sharing.

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Which makes sense, but it also means that what we see online is often not representative of the breadth of views out there, because many people are concerned about what sharing their thoughts and opinions could mean, and how it could potentially be used against them. Which is why more privacy controls can open up greater levels of expression and engagement, and why more people are looking to advanced tools, like messaging encryption, to gain that extra level of assurance.

Which is also why Snapchat has been able to maintain and grow its audience, despite rising competition in the space.

Snapchat privacy report

Snapchat has always presented itself as a key alternative for more intimate, private discussion, a place for friends to connect, not to broadcast your life to the world. And while that is also more restrictive, in a content sense, Snap’s approach has clearly resonated with a lot of people, and enabled it to carve a niche in the broader social and messaging space.

The report also goes into depth on the full reasons that influence how and why people share on social, and the tools that people rely on to enhance their experience.

Snapchat privacy report

There are some interesting insights and considerations here, which, as noted, largely reflect the latest social media innovations in improved audience controls, evolving private messaging tools, safety functions, reporting and more.

Without these elements, people simply won’t share, and won’t engage online at the same rate. And as we move into the next stage of digital connection, where we’re likely to spend even more time online, and potentially expose even more of ourselves, such measures will remain critically important in order to keep people safe.

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You can read Snapchat’s full ‘Global Perceptions of Privacy’ report here.



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New Report Underlines the Importance of Social Media in Connecting with Gen Z Consumers

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New Report Underlines the Importance of Social Media in Connecting with Gen Z Consumers


Consumer expectations are rising, as is the importance of shared brand values, according to the latest data from market research provider Qualtrics.

To glean some insight into the shifting state of customer expectations, Qualtrics surveyed 9,000 consumers, across a breadth of age brackets, to measure the variance in importance on a range of measures between Gen Z, Baby Boomers and everything in between.

The findings highlight some key considerations for all brands – first off, the data indicates that Gen Z is the most likely to be upset by a negative interaction with a company.

Gen Z is the generation least likely to report being happy with their customer experience (on a scale of upset to delighted). Gen Z was the most upset by their interactions with federal agencies (only 13% gave a positive rating), followed by investment firms and airlines. Gen Z gave the highest ratings to social media and retail stores.

Gen Z consumers have grown up with social media and eCommerce, and they increasingly expect brands to cater to their specific needs, while they also know that they have both the means to publicly criticize a company due to negative interactions, and the capacity to easily switch, with a simple online search providing a range of competitor brands.

That’s increased their expectations around customer service and response, and it’s important for brands to consider this in their engagement and actions.

Younger consumers also value public health response, with Gen Z respondents twice as likely as Baby Boomers to stop purchasing from a brand because they felt their safety measures were insufficient. Which also works the opposite way too.

Gen Z consumers also put more emphasis on brand values – potentially a side effect of the social media era – with younger shoppers almost three times as likely as Baby Boomers to say that they were very familiar with the brand values of the products they choose.

Qualtrics consumer survey

With brands now able to communicate more about their business online, that’s opened up more capacity for consumers to also get an understanding of their stances and approach, and that expanded capability to connect with a brand on a deeper level can be a very powerful draw to generate stronger bonds and business.

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Indeed, for Gen Z consumers, maintaining a social media presence was the second-highest ranked way for brands to maintain relevance. No other generation ranked social media presence in the top three.

If that insight doesn’t underline the importance of building and maintaining a social media presence, I’m not sure what will – younger consumers want to feel more connected with every business that they buy from, and social media is the key linkage that facilitates such for this group.

There’s a range of additional insights in the full report from Qualtrics, which you can check out here. Some key considerations for marketers, especially those looking to connect with younger audiences.



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Instagram Adds New Stickers and AR Features to Celebrate Lunar New Year

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Instagram Adds New Stickers and AR Features to Celebrate Chinese New Year


Instagram has added some new features to help users celebrate Lunar New Year, including new, themed stickers and a custom AR effect.

As you can see here, the new stickers commemorate the Year of the Tiger, with art by Hong Kong-based Ophelia Pang. The stickers provide a simple way to mark the event, which will be celebrated from January 31st to February 15th.

In addition, Instagram’s also added a #MyLNY2022 AR effect, which provides another way to engage with the celebration.

There’s actually a range of Lunar New Year effects available in the app, which you can find by using the search option at the end of the effects carousel.

Instagram released a similar set of Lunar New Year tools last year, which is part of its broader focus on maximizing engagement around cultural events.

 As explained by Instagram chief Adam Mosseri:

“When it comes to celebrating cultural moments, we want to be a platform where creators showcase their work.

Showcasing creativity is where Instagram is increasingly looking to align itself, as it works to differentiate the app from TikTok, which is more based on communal expression and meme-based sharing. If Instagram can put more focus on creative output, specifically, that could be a way to lean into the rising Web3 movement, in which, theoretically, creators could be better rewarded and celebrated for their work.

These Lunar New Year tools showcase the art of some creators, but the larger vision for Instagram is that it may be better placed to provide a platform for more artists in the same way, which could help it regain its momentum in the face of the TikTok challenge.

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You can check out Instagram’s Lunar New Year tools in the app.





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