I social media I’m in turmoil: between subscriptions e NFT, it seems that all platforms are ready to introduce new ways of business. Twitter goes ahead with Twitter Blue, which allows you to connect your cryptocurrency wallet to have a profile picture in NFT. But it seems that too Facebook, Instagram and TikTok are ready for the revolution.
Subscriptions and NFT, here’s how social networks are changing
It was once a “social network”, a digital extension of our relationships in daily life. Facebook was the way to keep in touch with old colleagues or classmates, Instagram to showcase vacation photos, and Twitter to discuss our favorite TV series. And social networks are still all of this. But they have also become real “social media“: We not only use them to keep in touch with someone, but also for entertainment.
For this reason i creators they influence in platforms they are increasingly important. They are the reason why we stick to our smartphone (sometimes even longer than we would like).
Social platforms know this and are introducing gods changes that potentially revolutionize the economy behind social. On the one hand by introducing subscriptions, which allow you to have fixed income on the platform. On the other hand, with NFTs, which allow you to trade unique digital products, certified with the blockchain. Two features that could change the face of social media.
Subscriptions for social influencers
The first change in sight concerns the subscriptions. We are not talking about services like Twitter Blue, a subscription that you pay to the company for extra features on the platform. Rather than actual subscriptions to the profiles of your favorite creators, in exchange for extra features and content.
They have had the streaming platform for some time now Twitch (our channel here!) offers extra features to fans who support the channels. And platforms like Patreon, which allows you to access extra content based on the subscription you subscribe, are having more and more success.
But recently, it seems that even the most important social platforms are integrating these functions directly into their ecosystem. Last year Facebook introduced this novelty and the news this week is that Instagram is testing a similar function.
Currently only available to a limited number of users in the United States, this feature allows you to organize Live e Stories exclusive for those who subscribe, as well as providing special badges to distinguish themselves. Features that could also come up TikTok, which is studying which monetization methods to introduce on the platform.
NFTs for profile photos, and more
If subscriptions are born with the idea of providing creators with a constant and predictable source of income, the arrival of NFTs has a more difficult economic potential to grasp. Recently, Twitter introduced the ability to connect your cryptocurrency wallet profile, so you can upload your profile picture to NFT.
But it seems that too Instagram e Facebook are working on a similar function. According to the Financial Times, we are still in the early stages of development. But the project of Meta it should go above and beyond certifying your profile picture. In fact it should become possible create NFT on the platform, then sell them e to trade.
To understand the usefulness of this thing, let’s take the example of Twitter in the panorama of American comedy. According to many commentators, it is becoming common practice to do ‘steal’ the jokes on the social network to then use them in movies, TV shows, podcasts. If they were certified with the blockchain, there would be a way to certify its provenance. And perhaps the practice of “buy the jokes“. The same could be true for i meme and much more.
A market for ideas, ideally. Even if the dynamics are still to be studied and difficult to predict at the moment.
The world of social media, with subscriptions and NFT, becomes a universe at double speed. On the one hand, a series of contents that continue to remain free, a quality necessary to achieve popularity. On the other products exclusive, protected by a subscription or the blockchain.
Say whether or not it will be successful, whether it will be a positive force for the help it gives to creatives or negative for economic barriers which poses, it is still difficult. But in the coming months and years the face of social media could change. Maybe forever.