NFT Utility for Creators & Their Fans
8 Use-cases most creators can offer their community
NFT was the hottest topic of 2021.
Celebrities, musicians, and small and big creators joined the bandwagon of the unknown world of blockchain art. With Beeple selling his NFT for $69 Million, the non-fungible digital art industry became more lucrative.
The limited use cases of NFTs made me believe that NFTs weren’t suitable for small creators. But I immediately learned from my mistake and analyzed how small creators are leveraging them.
Besides strengthening the bond between the creator and its community, NFTs have opened a wild world of possibilities. Let’s find more ways to leverage them to build a sustainable economy.
But also allow them to enter tokenized communities, step into the metaverse and get exclusive content. But there are more perks to holding an NFT.
Access to the Metaverse
The most common utility of NFTs is ticketing. It’s an entry to events or discussions as used in VeeFriends.
NFTs can also access to enter a metaverse of a creator. If Mr. Beast launches his metaverse, it’ll mainly be easiest to access for his NFT collectors than for the general public.
The free lifetime access to the Cretors Metaverse will make the fan hold the NFT longer than flipping it for profits. In addition, they will be used to experience different kinds of possibilities in the metaverse.
Layering of Fan-base
In Web 2, there were no layers to differentiate the fan base. All followers were just followers. With Web 3 now, knowing our fans have become more accessible as everything is open on the chain.
Blockchain tech will record the person who collected your NFT, how long he held it, and if he’s still holding it.
This layering of the fanbase allows creators to build different types of relationships with their fans.
Building services & products for different levels makes more sense than building one product for everyone.
NFTs are the easiest way to create those fan layers.
For Game Creators
Game creators can use their NFTs to fund the games they build. This funding can help them develop games and develop their gaming system.
The NFTs can allow the fans to challenge the game creator and give them a chance to play alongside their favorite players. They will also be incentivized to wear the skin and accessories selected by their NFT holders.
Voting Rights & Influence
Although most creators want to work independently, when people back them up to like to contribute, creators get investors who genuinely care about their success.
NFT holders can be given voting rights to decide what they work on next and which project they should be focusing on. So it’s letting your fans make decisions alongside you.
This builds a robust ownership economy where your support is allowed to guide you and influence your work.
Exclusive Creator Club
The most engaging fans love receiving exclusive content from their favorite creators.
Long-term NFT holders can join the Exclusive Creator Club, which access “invite-only” group calls and AMA sessions. The creator can choose how he wants to leverage these premium clubs to make the most of it.
Allowing collectors additional discounts
Digital products are still the most sought-after way to make money for digital creators. NFT artists can offer an additional discount to all their collectors. This discount can be applied for merchandise, an online course, mean event tickets, or the next art drop.
The creators can make this even more lucrative by allowing their fans a lifetime discount on everything they launch as long as the fans still own their NFT art.
Exclusive Interaction with Creators
Even with multiple ways to communicate with their fans through IG live and Twitter AMAs, fans do not get a chance to speak directly with their fans.
They can, however, choose to interact with NFT folders personally and exclusively. One-on-one interaction makes the connection more personal than any existing communication channel between creator and fans.
Allowing Fans to be Part of A Global Community
Community is the currency of the Web 3 world. Not only do these communities make an NFT collection a success, but they deice the price of the art.
Creators can take this bond to the next level by introducing their NFT holders to their global audience. This global community can bring all other fans together and give the holders a sense of belonging above and beyond.
Revenue Share
This one is probably the most significant use case of NFTs.
In Web 2, creators didn’t have the chance to share their success with the fans who supported them throughout their journey. But in Web 3, creators can choose to reward people holding their NFTs and being a genuine part of their community.
The revenue share doesn’t only limit to NFTs; for every piece of business — creators can choose to give some royalties to their biggest fans.
“I think of an NFT as — it’s as general a concept as the webpage. When it first comes out, people are like, “Oh it’s a website” and they try to map it to the offline world. But it’s a core new concept, the idea of owning something on the internet.” — @cdixon
NFTs are not the same digital art with no use cases — they’re beyond that.
Every artist and creator can use them to leverage their creative business model and provide long-term benefits to their fans.
I just happened to mention the ones that most creators can use, but you can choose to find a new use case nobody had thought of before; the only caveat is it should incentivize people who’ve made you successful.
It is our chance to give back to our community; how are you going to do that?
I like the idea of rewarding the biggest/most loyal fans with a percentage of the earnings. Great incentive!