Many digital artworks, memes, videos and pictures are being created nowadays. And, even though some of these digital works are being created by popular artists and streamers with a massive fanbase, many are created by less famous artists or streamers without a herd of fans following their every move.
Now, what makes this interesting is the fact that all of these digital works and content can be turned into an NFT. From the first Tweet ever to famous memes and a video of the kiss between Britney and Madonna, all of these digital artworks have been turned into memes. And with some NFTs now selling for millions of dollars, this can be quite the lucrative business.
But what can you do as a streamer and want to start using NFTs to make money?
NFTs and Streaming..How?
If this is the first time you are reading about NFTs, let us cut you some slack. What an NFT is, is actually not that difficult to explain. An NFT or Non-Fungible Token, is a digital piece of content that can be traded using the blockchain and these have recently become increasingly popular in the cryptocurrency and social-media universe. The best thing about NFTs is that you can be sure of the fact that it is authentic, because the creator in question is able to prove the work is his or hers by means of a digital signature. This also ensures that the NFT cannot be sold illegally.
Crypto, and specifically NFTs, can accelerate the trend of how creators can monetize directly with their fanbase. Streaming platforms are useful for building an audience and generating ad-based revenue. However with web 3.0 on the horizon streaming is going to change and conventional platforms will need to be replaced with decentralized alternatives. Streamers can start building on other methods to make money such as NFTs and crypto-enabled economies on the FIRST platform.
Making your first streaming NFT
So as already mentioned above, any video/stream can potentially be turned into an NFT. But it doesn’t stop there, snippets of live events, for instance, can also be turned into an NFT and to top it off this process can be tied into different levels of rarity and price per NFT. After you have made your piece of content into an NFT, you can sell it on your FIRST creator channel, which serves as your very own NFT Marketplace. This way you can sell your content to fans for whatever you think it’s worth.
NFTs offer fundamentally better economics for creators because blockchain-based ownership shifts the power back to streamers and fans. Fans can now literally own the best moments from their favorite streamers which creates new layered earning models for you as a streamer.
And now, let’s make some money.
So now let’s say you are a streamer and you want to sell a video NFT. These videos can be either about a regular event for example: a game, or maybe a unique event such as a special make-up tutorial. Now it’s time to classify these videos based on rarity, so a rare, epic, legendary, ultra-rare etc. NFT. You can then sell this NFT to your fans.
However, there is also another possibility. You as a streamer can choose to let fans subscribe to your streaming account on FIRST by paying a fixed subscription fee. You will be able to have your fans receive monthly live NFT drops directly to their wallets and they will need to unpack the NFT to see which rarity they get. Streamers can mint (create) different rarity level NFTs which we automatically provide with a visual rarity design and rarity drop percentage. On FIRST, 1,000 subscribers $10/month can net $120K/year to the streamer paid directly to their wallet in FIRST tokens.
Now, you might not be quite there yet to sell your NFTs for millions of dollars, but offering your fans a means to own a unique piece of your work and earning some steady money sounds pretty cool right? We agree. So you work on building that community and on making awesome NFTs and we will provide a platform where you can start selling NFTs.
FIRST, be captivated by the moment.
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