NFTs — non-fungible-tokens — are digital assets created via blockchain technology that have become the buzzword for creators seeking new ways to compete in the marketplace.
The first NFT, produced in 2014, was made by a digital artist named Kevin McCoy who saw the immense opportunity for artists to monetize their work. He sold his piece called “Quantum” (a pulsating octagon filled with mesmerizing, colorful pulsing circles) for an astounding 1.4 million dollars (now selling again for 7M!), and the rest is history.
Why NFTs?
Buyers love NFTs because they own something that is one-of-a-kind and can be proven to be authentic. Sellers love them because they skip the middle-game and garner more profit for themselves. They can further enjoy residual sales by attaching a commission to the NFT. All this is due to blockchain technology.
Though the majority of the world still isn’t in the NFT game, there’s a growing sector of the population that is jumping aboard. These early adopters either consider NFTs a strong investment and/or they’re mega fans who are willing to pay for the privilege to connect with the creator or own something rare for their collection. That is why it’s important, especially in the adult industry, to tackle learning about NFTs and add them to your offerings.
NFTs: Worth it or nah?
There is a distinctive FOMO thing going on right now with NFTs. and the pressure is there urging — You don’t want to be left in the dust while everyone around you is making cash.
Everything digital — from photos to artwork to video clips and more — can be made into NFTs. The sheer number of possibilities are endless, and this challenges (or, pressures) content creators to spread their wings by thinking outside the box to create unique offerings.
NFTs also protect a buyer’s and seller’s privacy (once again, because of block-chain technology). Further, due to the ability to sell direct, the creator can often make more off NFTs than on other adult content platforms. Perhaps the biggest gamechanger for the adult industry though is that NFTs give performers another way to connect with fans other than just social media.
Numerous NFT adult-friendly platforms exist — platforms/tools like CumRocket, Taboo Token and Nafty open a whole new way to reach audiences. Meanwhile, social media giants struggle to remain relevant and keep up.
For instance, Twitter just launched a new feature in January to allow users to share their NFTs in their profiles and connect a crypto wallet. OnlyFans followed in February by offering Ethereum backed profile NFT pics. Facebook and Instagram are also reported to be working on an NFT marketplace.
All this indicates that NFTs are a force to be reckoned with and will continue to grow. Rounding out your offerings with NFTs is forward-thinking and a wise decision for success in the years to come. Be mindful of balancing out the pressure to jump onto the next-new-big-thing bandwagon with real evidence that NFTs are certainly becoming a viable force.
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Alyssa Collins hails from Minnesota, where snowy days were the perfect excuse to stay warm inside and write. Over the years, she turned that joy into a career and has authored numerous articles for various publications (under pen names). Email Alyssa via alyssa@ynot.com.
Header image via Pexels.com.
