A dedicated fan base almost always equates to more earnings. Think of everything from the boy band’s early fan clubs to streaming his parties now run by groups of fans online. Efforts of this kind often lead to increased visibility for the project or artist in question, which ultimately leads to increased sales.
As such, entertainment companies have worked for decades to attract fans through contests, giveaways, limited-edition products, and more. Entering the web3 era, NFT is becoming the new way for businesses to generate fan engagement.
With the variety of media that can be used to ensure fan engagement, why is the demand for NFTs so high these days? First, they are very popular among young people. Almost any age group can become a fan of a project or entertainer, but historically the youngest have been the most enthusiastic fan base. So it makes sense for them to tap into the digital tools they are the biggest consumer of.
After all, a 20-year-old is more likely to buy an NFT collection than a 50-year-old. Then there is the ease of distribution among fans. Previously, fans had to purchase limited-edition items in physical stores or have them delivered to their homes. For entertainers and projects with fans in different parts of the world, this can create logistical problems.
With NFTs, these challenges are largely eliminated. Since they exist in the virtual internet space, they can be easily purchased by anyone from anywhere in the world. The easier the purchase, the more you earn. Needless to say, these contribute to making NFT some of the top fan engagement tools on the planet.
It is also more relevant as consumers are developing identities on digital platforms and want account security and record of ownership.
“By using Gated or Access NFTs, we can provide proof of authenticity in the metaverse that enhances utility functions such as event access and item ownership verification. It can be combined with in-platform inventory management to create interoperability, said David Lucatch, CEO of Liquid Avatar Technologies and Managing Director of Aftermath Islands Metaverse.
Managing, controlling and creating digital identities and personal data ownership with open standards is the future of interoperability. Products like Liquid Avatar Technologies’ Meta Park Pass give users control over their personal identities and data, supporting interoperability between Metaverse players while advancing privacy and data management rules.
Increased NFT engagement
So are NFTs the new darling of the entertainment world? Well, so far their involvement can be categorized as follows: Distribution of collectibles and rewards. For collectibles, NFTs are often used as tie-ins when launching new projects to excite fans and reward engagement.
For example, DC Comics created the collectible All iconic Batman cowl NFTs To coincide with Batman’s release earlier this year. These collectibles not only rewarded fans for being loyal to the franchise, but also helped increase buzz for the latest film.NFTs have also been used as scavenger-type hunts for fans. . Ahead of the latest season of Stranger Things, Scavenger Hunt his type of website was created to tease fans with puzzles and riddles alluding to the new season as well as NFTs.
In terms of reward distribution, NFTs were leveraged by Coachella this year to sell passes to specific events and experiences during the festival. Those who purchased them were able to do this by scanning a QR code.
NFTs are also used to reward customers, so there are more market options for handling the backend. After all, not every company can set up a department to figure out the logistics and coding required to launch his perks NFT collection.
This is where projects like Polarys come into play. Polarys offers NFTs-as-a-Service. This is a burgeoning niche that allows companies to support his NFT projects end-to-end. Through a single platform that requires no coding experience, companies can easily create her NFT campaigns from concept to execution. The nature of NFTs is important. By focusing on utility-based her NFTs, Polaris hopes to offer owners the potential to reclaim tangible rewards. This includes airdropping assets to fans and creating Discord channels that are only accessible to asset owners.
The marketplace aspect of Project also means that sales and billing can be accessed from a single dashboard. For consumers, this means they can easily get perks and rewards like cashback from their favorite brands. Great impact for potential indie projects and small releases. ”
more than emotions
But while there are plenty of options on the market for users to engage with their favorite franchises using NFTs, there are also many NFT collections that offer more than nostalgia and emotional attachment to the medium.
The Bandit Project is an NFT collection containing 3,000 assets, giving owners the chance to profit from their purchases. Based on the Binance Smart Chain, each NFT given to the purchaser will be randomly selected and the ecosystem will revolve around Native.
$BANDIT token. Token holders can earn passive income by issuing NFTs. When a person creates her NFT from her Bandit Project, capital is locked in a way. From the day the NFT is created, you will receive 1% of her ROI each day until all 3,000 assets are sold (sometimes more, depending on the rarity of the NFT).
Projects like Alóki are pushing the boundaries for those who want to benefit outside the virtual world. As one of the first Play-to-Own blockchain projects, Alóki enables users to play blockchain-based games, where virtual sustainable actions are reflected in the real world. For example, if a tree is planted in-game, you can actually plant a tree on a real Costa Rica parcel, adding to the 11,000 trees already planted.
The company aims to replicate real community villages on physical jungle land with houses and social spaces that can host rewarded users in all-expenses-covered retreats. Award-winning Sustainability Architect Benjamin Sachs will help Aroki realize this vision.
The project comes with 750 acres of land that players may eventually visit or own through NFTs linked to real-life utilities.
NFT: The future of entertainment?
With all the applications of NFTs taking root in the entertainment industry, it’s no exaggeration to say that NFTs should become a mainstay of the industry over time. From sentimental collectibles for fans to practical tools to offer benefits and reach the public, NFT has established itself in the field of entertainment.
Additionally, new projects are pushing the boundaries of what NFTs can do, creating more tangible value for consumers. With all this in mind, NFTs are just scratching the surface of what can be done.