5 NFT trends that will bring social media audiences into web3

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As the debate continues on Twitter, most tech founders and VCs have so far chosen a side: Web 2.0 or Web 3.

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Supporters of Web3 believe that this is the future of the Internet, and that blockchain-based products will completely replace Web 2.0 in the next few years.

Web 2.0 veterans say it’s all just a bunch of hype by crypto brothers looking to make a profit, and that blockchain technologies are fundamentally limited in scope.

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As a founder who has been building Web 2.0 apps for over a decade, and has been investing in crypto for almost as long, I believe the most exciting opportunity lies at the intersection of these two worlds. .

The true mass-market potential of the blockchain will be unlocked with the merger of Web 2.0 and Web3.

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It’s fascinating to see the energy, talent and resources being put into Web3 and going back to the early days of the Internet. For those of us who have been around Silicon Valley for a long time, the similarities are undeniable.

Except for this time, the growth rate seems to be exponentially higher. Web3 pundits point to these facts to support the argument that Web3 is the future of the Internet, and that Web 2.0 will soon end.

But there is an important difference between the early days of the Internet and today: Before Web 1.0, there was no Internet. We all lived the same life. When the Internet arrived, it was competing against a relatively boring existence. Free porn, chat rooms, gaming, music, email, video, world information at your fingertips versus… Blockbuster’s sleepy Saturday trip. It was never a fair fight.

I spent $2,000 on a pair of sneakers I know I’ll never wear, because they only exist in NFT form. Is it crazy less than the money I spent on toe-crushing stilettos before?

Web3 is entering a different field. People today have become addicted to digital products and are very strong. You’re not going to make the average consumer stop scrolling through TikTok because they want to help usher in the era of decentralization, support the maker economy or fight inflation. they do not care. and they can’t stand BAYC or a cryptopunk,

The average Internet user cares about how they appear and present themselves on social media. That’s the bridge. The key to this bridge will be the NFT.

Here are 5 NFT trends that will drive social media audiences collectively to Web3:

nft verification

Skeptics are quick to point out that NFTs are dumb because you can simply right-click and save the underlying files. This is a temporary problem. In the near future, all major social platforms will implement NFT verification, allowing you to connect your wallet and display your verified NFTs on your profile. In parallel, fingerprinting technology will allow the platform to easily detect and take down stolen files.

Once TikTok users can display and use their unique, verified NFTs in their posts, the game changes completely, as the social value of buying and broadcasting NFTs grows exponentially.

Side chain

as a sidechain polygon become increasingly prevalent, the prices of NFTs will come down. The near-zero gas fee also enables developers to build more interactivity and compatibility into NFTs, making them inherently more social.

Imagine Pokémon Go on the blockchain, where each Pokémon is an NFT that can be traded or sold. Each Pokémon you acquire has unique traits, and you uniquely affect how it evolves with the location-based achievements you unlock. As a Pokémon levels, its powers update on-chain. As you progress in the game, you earn crypto tokens, which have value outside the game. happiness!

music

The NFT craze of 2021 focused largely on the visual arts, but the next frontier, and I believe will eventually be huge, is music. Whether it is a collection of physical art or NFTs, the impulses driving the collector’s behavior are the same: the desire to express their artistic tastes to peers; the desire to express one’s identity, either as an individual or a group; And, in some cases, the desire to make a profit.

While much of the speculative frenzy has been behind the early NFT craze, I think the impulses around self-expression and identity are the more fundamental drivers of art collections. And one of the most prevalent ways in which people express their tastes and identities is through music.

TikTok started as a music video app and music tracks continue to be a core component of the videos shared on the platform. But the music available today is common. Everyone has access to the same songs.

Imagine that your favorite artist releases a unique 60-second music track with a limited number of available as NFTs. You buy one and make a good tiktok out of it. It goes viral. Millions of people suddenly want that song to become their own Tiktok. But anywhere only 100 copies are available. You get daily offers from people who want to buy the song from you, and you can decide whether you want to flip it or keep it for yourself. happiness!

wearable

At the beginning of the Web 2.0 era, when I was in my 20s, I used to spend almost all of my disposable monthly income on fashion. Fancy jeans, stilettos, sunglasses and handbags – my appetite for cool things to wear was insatiable.

But over the past decade, as most of my social interactions have taken place online, my spending on clothes has come down. I really want some colorful tops for the Zoom these days, in addition to exercise gear. The fun of buying fancy clothes is over.

But the other day, I did something amazing. I spent $2,000 on a pair of sneakers I know I’ll never wear. I can’t wear them, because they only exist as an NFT. It’s hard for me to explain to someone who hasn’t fallen down the crypto rabbit hole why I made this purchase, and I realize it probably sounds crazy. But is it less crazy than the money I’ve spent on toe-crushing stilettos before?

Wearables are about to usher in an era of massive spending on digital goods that social media audiences will use to build and advance their digital selves. While most of the current wearables activity in the NFT space is tied to gaming and avatars, the killer use case that will help convert large audiences into the metaverse will be AR filters.

Imagine Kim Kardashian launching custom AR filters — facelifts, lip fillers, makeup, hair, clothes, jewelry — and each one is unique. If you buy one, you can specifically keep that look in your TikTok videos for as long as you want, and then you can sell it when you get bored. Add me to your whitelist, Kim!

dynamic avatar

ok i take it. You can’t for the life of you imagine why someone would change their profile picture to a terrifying ape. I have to admit, I have a bored monkey. But I can’t bring myself to make it my profile picture. i chose one women’s world Instead. Why did I swap a professional headshot of myself for an algorithmically generated cartoon image that only looks like me? That was fun. It allowed me to express a side of my personality that I would have trouble photographing.

But my profile picture is already starting to look a bit stale. I wish it didn’t happen… stable.

Mobility, personalization and movement are coming in the NFT avatar. Imagine you take a selfie, and an AI generates a unique, custom 3D avatar that looks like your ideal version. Like Bitmoji, but better. You can update character expressions and poses, clothing and accessories; You can dance to it; You can ask it to say things in your own voice, just by typing. Think about how easy it would be to create engaging TikTok posts where you feel good about how you come across. You can spend less time perfecting your acting and filming skills, and more time on the message you’re trying to convey.

Dynamic Avatar will be an opportunity to democratize self-expression on social media and give voice to a much larger audience of creators.

When Facebook first started, it was dumb, but it was fun. When you log on every few days, you’ll be reminded of your real friend’s birthday, check out their latest cheesy profile pics, and poke them. Then came feeds, mobile phones and algorithms, Instagram models, lattes and completely filtered life, and somewhere along the way, the fun morphed into a kind of social slavery. We keep scrolling through posts from people we barely know who make us feel bad, and we keep posting unpleasant things in return. Surely that’s how it all ends?

When Zuckerberg revealed his vision for Meta, you could feel the collective eye roll. You’ve already ruined our lives with social media, we wanted to scream, and now you’re going to kill the last remnants of our physical connection and turn us into vegetables living in the Matrix.

But the thing is, whatever the pros and cons, we’re already making a harsh march toward the metaverse. We are increasingly living a virtual life. What Web3 enables is an enriching experience in that virtual existence. One that will hopefully feel a little less hollow, a little more human.

I look forward to a future where NFTs, along with all the other promises of Web3, help us create a virtual reality where human interaction is fun once again.

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