The Power of NFT Collectibles for Brands: Exploring Innovative Revenue Streams
Although the NFT market is currently experiencing a decline in activity compared to its peak in 2021, web2 brands are charging into NFT adoption in droves.
Although the NFT market is currently experiencing a decline in activity compared to its peak in 2021, web2 brands are charging into NFT adoption in droves.
Investors have poured nearly $94 billion into web3 companies in recent years. As entertainment goliaths like Disney make the leap to web3, it’s becoming clear that there’s a “whole new world” of opportunity ready to tap into. But to fully capitalize on the shift, brands must be ready to create marketing strategies that focus on physical NFTs and create new ways for their audiences to engage.
The world is shifting to an environment built on blockchain and AI technology. Organizations, brands, marketers, and entrepreneurs are working to adapt to this new reality, turning to innovations like machine learning NFT marketing to stay competitive in an evolving marketplace. To do so successfully, they must build an understanding of how AI and blockchain intersect, and the symbiotic relationship the two have formed as a result. In this guide, we’ll dive into how that relationship is changing brand engagement as we know it, as well as the wider implications of AI technology in the information economy.
As brands recognize the revenue potential and value of Web3 technologies, many are hesitant to embrace the ecosystem due to several barriers, including toxic headlines, unclear monetization strategies and the technical and purchasing barriers presented to consumers. The growing popularity of NFTs, Metaverse and other digital ownership-related technologies has companies taking action to break down these barriers, allowing for broader consumer engagement.
In 2021, just a few years since anyone had first heard of them, the market of music NFTs was valued at $1.24 billion — and it’s forecasted to grow to $42 billion by 2032. Blockchain technology has granted musicians a new way to monetize their craft, and this guide will show you how to be part of it. You’ll learn what NFTs for musicians are, why your business goals should include NFTs, and how you can grow new revenue streams with digital assets.
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Tokenization is an excellent way for IP owners, collectors, property owners, and businesses to monetize their most valuable assets. Unless you already have extensive experience creating and promoting your own physical-backed NFTs, you’ll be best served by finding a partner to help you issue tokens and manage investor communications. Most importantly, this tokenization platform must understand your asset’s monetary and cultural value as intimately as it understands the technological complexity of the blockchain.
Web3 presents an exciting new opportunity for musicians to expand their reach beyond conventional channels and take control of their revenue. By minting NFTs on the blockchain, bands and performers can create unique digital items for collectors to own or sell, earning revenue with each transaction.
The NFT market is already on track to reach $80 billion by 2025, making it a valuable opportunity for musicians to connect with fans and sell albums, merchandise, and more. Read on to learn more about what music NFTs are, where to sell music NFTs, and which artists have already taken the plunge.
As the music industry completes its migration toward digital services and streaming, one question continues to arise: How do artists get paid?
When users stream music over Spotify or other streaming apps, the artists make only fractions of a penny per play, making it difficult for many artists to survive on streaming alone. Finding out how to mint music NFTs offers a solution to this problem by giving music lovers an exciting new choice in how to support music artists.
As an artist, minting music NFTs allows you to better control how your music is released, how it is consumed — both digitally and physically — and how you get paid. You can even add extras or add-ons that will increase the value of your NFT, as well as increase the likelihood a customer might buy one.
The NFT (non-fungible token) space over the last twelve months has been anything but boring. In fact, it has seen more than its fair share of twists and turns and ups and downs — and many got more than a bit lost in all the action.
Sports and cryptocurrency are a match made in marketing heaven. Sports and their attendant franchises have long enjoyed mainstream popularity in cultures the world over, and they’ve monetized that popularity with plenty of multifaceted merchandising. Crypto, on the other hand, grants the venerable institution of sports access to new revenue streams that are particularly attractive to younger, more tech-savvy fans. The complementary nature of these two sectors makes it only natural that they should find success by their powers combined. From the dozens of sports crypto projects on the market, we’ve picked out five of the most successful to highlight how they hit their impressive results and what lessons you can take to inform your own crypto play.