Krista’s Newsletter 003
Last time I shared what I’ve learned so far about NFT’s. This week I want to continue that and get to some alternate ways you can use them in your content business, now or in the future.
Full disclosure: I am learning about this new technology, but I am by no means an expert yet.
Proof of purchase for physical and digital goods.
Under the covers, NFTs contain a digital “smart contract” between the asset creator and the buyer, including metadata about the asset including proof of ownership and a digital “map” to where the actual asset is stored in cyberspace. No matter the asset, NFTs can also be utilized as a proof of purchase/ownership/authenticity that is stored on the blockchain.
So, if you are say, a TikTok musician or choreographer, you could create an NFT for your choreography, charge for it, and keep it from being copied and profited from.
Also, Shark Tank billionaire entrepreneur Kevin O’Leary, aka Mr. Wonderful, thinks NFTs have more growth potential than Bitcoin because of their ability to serve as proof of purchase.
Preventing fake physical goods.
The fashion and luxury goods industries lose billions every year to knockoffs. If every genuine Gucci watch or dress had an NFT as a certificate of authenticity, it would be virtually impossible to pass off a fake item again. Blockchain is literally impossible to tamper with, so adding that layer of protection to a physical good is invaluable. Bringing this into the real world, say your business is making custom guitars by hand. You could create an NFT certificate of authenticity for each instrument, and basically insure you’ll never lose money from a knockoff. I also think this could curb theft of these kinds of items. Imagine asking someone selling you a stolen custom guitar to show you the NFT that comes with it. Game over! Read more: NFTs And Their Uses Beyond Art
As web domains.
From what I can tell, this use is just beginning to take off, but let’s get into it anyway. NFT domains are actual web addresses, but with new extensions like .zil .crypto or .x. This means you buy an NFT domain once, you own the rights to it, and it is yours forever. They call this concept self-custody. You can now buy these NFT domains from places like Unstoppable Domains, but from what I can tell, we aren’t yet able to use them for blogs or e-commerce sites because all these platforms and browsers aren’t compatible.
😎 Gangster Content of the Week: Pit Crew
If a college fraternity house designed an NFT project it would be Pit Crew. This is one of the most campy online community designs I’ve seen – and I am here for all of it. I selected Pit Crew as this week’s content gangster, because of their content business model: Community gamification and content marketing. Pit Crew has created a gamification program within their community that rewards buyers and keeps them coming back to the site. Each NFT you purchase also earns you a chance to win a weekly monetary prize, more NFTs, or, in their latest promotion, a trip to the Dominican Republic. What I like about how they did this is: your purchase is, as the Crew puts it, “a Powerball ticket that never expires”. If you don’t win a prize this week, your name goes back into the pool for the next week.
The second way they add value, which may be even more important, is exclusive content. Buyers of a certain NFT category OR customers who buy any 3 NFTs join the Pit Crew Insiders Circle which gives them free access to an 8-week NFT Investing masterclass, taught by, you guessed it, the Pit Crew. Again, what they are selling isn’t the point here. Think of how you could reward your viewers/followers/subscribers that also kept them coming back. What exclusive content could you offer over and above what you’re creating now, and what incentive could you come up with to get them to buy in?
📋1-Minute Coaching Session
If you offer any kind of training or teaching content, it is critical that you understand your ideal customer’s pain points and then solve them with your content. Skip this step at your own risk. This came up in a conversation with a friend who was frustrated he couldn’t get his customers to see the value of his software education program. He shared all the available modules, costs, 4K video, and so on, but still got crickets. So, I asked him one question: “What is important to your customer? What pain points do they have that your solution solves?” Instantly he started to shift his mindset to solving his customer’s problems instead of selling his solution. I know, for some of us, this isn’t the creative, fun part of content, but if you do it, it will help your views, likes, and subscribers grow.
⏰ What I’m Up to
I’ve been busy having some branding elements created for the Creator Coaching website. For the first time, I hired a designer (on Upwork.com), and I’m very close to having the final versions in my hands. I will let you know here when the “redecoration” is done.