In this post, I will explain how NFT rose through social media, and how they are closely related.
Indeed, it is said that NFTs, but also crypto, and everything related to a blockchain becomes Web 3.0, after social media, considered as Web 2.0. Web 1.0 is what is readable only, such as Google, Wikipedia, MSN, etc.
What is an NFT?
As a reminder, NFTs are Non-Fungible Tokens, which means that they are not replaceable. This means that if an exchange of NFTs were to take place, one of the two people would inevitably gain more than the other once the exchange is done. No NFT has the same value as another. For additional details, this article explains well the basics of NFTs.
So, let’s see why NFTs are related to social media, and why I think they are going to be a big part of the evolution of social media in the next few years.
Social Media are the first source of information
First, since NFTs are just emerging, there are not really any books explaining the topic. Most of the information can be found on the Internet, and more specifically on social media. On YouTube and TikTok, for explanatory videos of variable duration. On Twitter and Instagram, for written explanations, and live news. In fact, you can find information on almost every social media, only in different forms.
In addition, it is now possible to put an NFT as a profile picture on Twitter, and Reddit (more recently) for example. Many celebrities have embraced the trend, which has given this phenomenon even more momentum.
Towards a Marketplace on Meta?
Secondly, concerning NFTs’ marketplaces, these are not found directly on social media, but on websites such as OpenSea. However, Meta has announced that it will launch its own marketplace in the near future.
The creation of communities
Thirdly, social media allows the formation of communities. Something essential, since NFTs are a completely new subject. Indeed, it can still be difficult to find the right people to tackle the subject.
This is why, when you buy an NFT, many benefits come with it. You can become one of the few members in private groups, meet with mentors, or simply with other passionate people. Some even go beyond the virtual barrier by organizing dinners thanks to these private groups. These communities are mostly based on Twitter and Discord.
Evolution of social media?
Finally, I really think that the NFTs and more globally Web 3.0 will strongly impact social media, since influencers or any person working on social media, will be able to offer advantages to their followers, by proposing them to buy their own NFTs.
We, therefore, realize that NFT rose through social media, as it is really allowing a bond between the buyers, allowing the passionate or interested people to talk about a topic that is very promising, but still emerging.