The rise of Web3 has seen some of the most phenomenal achievements we have ever seen in the history of the internet. NFT’s were introduced to us through Crypto-Kitties and took a while for people to become aware of just how much potential they had.
What are NFT’s? NFT’s are defined as non-fungible tokens which provides you with digital ownership of an item through what is called a ‘smart contract’. A smart contract is a digital computer programme that can execute legal events that can be stored on the blockchain for all to see.
Why is this important? Web3 has created new opportunities that we have never seen before, while simultaneously disrupting traditional methods and practices. Be it in Finance, Art, Gaming, Music and many more industries. Web3 has made it possible for creators to interact directly with their community. Community in society has been the driving force of every major movement in history across Religion, Politics and Artistry. It has been at the hub of change since the dawn of time.
Web3 has now given more power to communities than ever before. So why should Celebrity Creators be more in touch with Web3 and their communities you ask? We are experiencing a change in how people think. The barrier between society and celebrities has become thinner through the accessibility of social media. It is no longer about worshipping someone who you thought was at an unattainable level. Social media has enabled individuals and provides opportunities for anyone with a creative eye or vision to feel like they can do anything and be successful at it. Today, this is achievable as long as they are able to amass an audience, which essentially becomes their community.
The traditional methods over the last few decades have been; a celebrity achieves a certain amount of fame while amassing an army of fans who show loyalty to their favourite celebrities. They then show their loyalty by buying merch, memorabilia, attending concerts and more. But what if Web3 allowed you to create an ecosystem where you could allow your fans to benefit and earn royalties from your career as you are on the rise?
Web3 not only rewards creators who have grown a genuine dedicated community, it also rewards members in the community. Web3 is not about isolating yourself. It’s about sharing and being rewarded for communicating with your audience on a regular basis.
We have seen the rise of the Bored Ape Yacht Club Project, which has seen over $600 million in trade volume since it started in late April. If a Web2 start-up had achieved such numbers in that short amount of time it could easily be placed at a high raking, potentially surpassing Amazon.
Bored Ape Yacht Club showed the value in creating a community and making people feel like they are a part of something big that they can invest in. This is the power of Web3 and why creators across all industries should be looking at Web3 as a way to take their careers to the very next level, whilst allowing their loyal community to join them.
An idea of how you can give value to your community in Web3 is for example; let’s say you’ve created a hardcore fanbase. NFT’s gives you the opportunity to sell your content to your fans and provides them digital ownership of whatever it is that you’re selling to them. There are various ways to reward them for being a holder of your NFT. You are able to release exclusive monthly airdrops for holders only, which they can make an income from and also increase the value of the original NFT that you sold to them. NFT’s that are linked to intellectual properties are what can create lucrative value for your community. Can you imagine J.K Rowling being a relatively unknown writer selling 100 versions of each Harry Potter character as an NFT at the launch of her first book? Then making the characters more relevant over time with new books and movies? This is the beauty of Web3, the opportunities are endless.
NFT’s linked to intellectual properties provides value to the community that you have grown. Your community then becomes evangelicals for your project as more awareness is being brought your way. Socialists are excited to see the prospectus of the future. It’s a win for all involving parties. The creator, the holders and followers alike for such a project. Web3 is the future and should be something that is explored by every creative across all industries as the opportunities for everyone as a community to grow are endless.
Do you want to create the next Disney? Harry Potter, or Star Wars? Do it on Web3 and you won’t regret it.