What is the logic of an NFT (or non-fungible tokens)? They are unpublished and exclusive versions, which makes their value increase, especially in cases where an admirer of the work (or collector) has an interest in this characteristic or sees in it a potential for appreciation. It’s like being able to own a work on display in a museum like the Louvre. Fans and NFTs have common interests.
That’s because encryption and blockchain-based records guarantee unique pieces. That’s the reason for the interest of entertainment companies, athletes and artists, and the incredible appreciation of digital assets in such segments. In fact, that’s why the NFTs market has attracted so much attention.
Why are NFTs more interesting to their authors?
In addition to removing the figure of the intermediary between the author and the consumer, the logic of blockchain is that when a person buys an NFT, the asset can be fully controlled by him.
Thus, the fan who wants an authentic and exclusive work, has the opportunity to acquire it in NFT. In addition, if the piece is valued in the future, the owner can trade it again, making profits.
For artists, entertainment companies, e-games or athletes, this possibility to monetize the brand is not only interesting, but also very viable – not least because it is possible to “slice” the work and sell some parts, offering some fans original products with better prices.
For those who sell them, the cost of NFT production is very interesting or almost zero. However, from a consumer point of view, NFTs are yet to evolve and it is likely that crypto products with less value will emerge.
Thesis of the thousand fans
Have you ever heard of the “1.000 true fans” thesis? The concept came from an article by Kevin Kelly, who has become quite well known in the marketing environment. He pointed out that to be able to monetize your art (or your work) nobody needs millions of reals, or millions of opportunities, millions of customers or millions of fans.
All it takes is a thousand true fans, also known as super fans. These supporters, according to the concept, can not only contribute to the income of the author or producer in question, but also to disseminate information about the business, purposes or results.
In other words, these fans are essential for the business to survive. And this makes even more sense when we think about NFTs, which are limited editions, restricted to collectors (fans), that can guarantee the perpetuity of the brand.