How can NFTs help content creators? | Rappers, Artists and Athletes
DeFi, Real World Assets - March 30, 2021
From art to music to sports, NFTs are getting into every form of creation. There’s a reason for this. An NFT or a non-fungible token can leverage a content creator’s craft like nothing else before. In this video, we break down why NFTs are so important to the curbside rapper, the small-time artist, and the garage band.
The more popular NFTs, the ones sold by Post Malone, Grimes, or the Kings of Leon are akin to collectibles. They are like souvenirs that fans will pay millions for. And they did. But what if the content creator does not have any fans yet. The keyword being ‘yet.’
Before you make it, when you’re just hustling, Individual content creation can be difficult. During this process, you’re dependent on platforms. Whether it’s YouTube for videos, Anchor for podcasts, or Substack for newsletters. The means of large-scale distribution is controlled by one company. This is because you don’t have the funds yet to distribute widely. Again, keyword being ‘yet.’
With NFTs for content creators, distribution is unlocked. But it’s not just distribution, everything from funding to marketing is possible. What an NFT does is create a license for the audience of content creators. This license, in the form of a token, can be used by the audience members to signify a link with the content creator.
For instance, a small-time rapper can sell NFTs to his audience. He can use the funding to get his tracks produced and send them to a record label. The audience will receive royalty payments if their bet on the rapper pays off in the future. Since an NFT works on blockchain, all of this is recorded, verified, and made publicly available for the world to see. So, you can prove whether you made a bet on the next Jay-Z or not.
But it goes so much more than just fundraising. Several content creators are leveraging NFTs to provide exclusive content. This can be in the form of one-on-one fan engagement, online parties, meetups, or NFT holders-only content. The exclusivity of these tokens makes them all the more valuable. Especially if you’re already a fan. This allows for a two-way content creator to fan interaction, on a monetary level, something that hasn’t happened before.
Wait, there’s more. With the infusion of DeFi in the NFT landscape, there’s room for improvement. This will allow content creators access to investments, funding, large-scale distribution, lending, and more. Because of NFTs content creators can leverage their craft in a way they never could before.
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