5 Reasons Celebrities Are Investing in NFTs

As per experts, the media and marketing worlds are going to use NFTs to create new content IP. As a result, consumer brands want to use technology to predict trends and stay ahead. Celebrities are one of the first groups of people to promote NFTs. They want to build a direct relationship with their fans. Through celebrities, NFTs are looking to ride the wave towards more audiences. This seems inevitable now.

Today, digital content is spread across the internet. Some pieces of content are more valuable than others. Why this is, is because different types of people value them in their own ways. You may do something useless. But maybe, your father thinks they are very valuable. When we value something, we focus on utility, social status, and future worth. There are five main reasons why celebrities are investing millions into NFTs.

Its A New Business Model

Celebrities want to invest their hard-earned money into ventures they can contribute to. They are employers in their own right. PR managers, communication managers, stylists, and others clamor for their attention and resources.

The dominant business model in entertainment has been viewership-based advertising. NFTs and blockchain technology promise to build to a decentralized world. This means power will shift back to more people instead of the select or chosen top few. Many celebrities understand technology’s benefits but not the tech itself. This helps NFT projects to think about their community from day 1.

Global Talent and Culture

With time, the world is becoming multi-lingual. It is not uncommon for people to consume content in many languages. You may watch English, Korean, Spanish, Japanese media etc. from time to time. Through our devices, we can find content from any place. Netflix is the best example of this. Before the internet, building global media houses was a challenge because budgets would be huge.

Thus, we’re seeing more powerful stories and characters. This creative explosion deserves its due in technology that serves it well. NFTs and blockchain technology promises to help creative talent find new paths. We can expect more celebrities take control of their creative art into their own hands. NFTs offer the best way to do that. Like modern media trends, NFTs and blockchain technology are global in scope.

Media is Changing

Text, video, and audio love combining. Think about movies or games. How immersive they are. With more creativity in storylines, more is the passion. Now it’s about understanding how our tastes have changed. Will we continue with our favorite means of digital media? Or are we looking for new ways?

NFTs and blockchain technology represent the latest phase in digital media. Technology comes in fits and starts. First slowly and then fast. Since the beginning of the web, media has continued to change form. There are more artists creating than ever before. There are more people engaging with media than ever before. What will come next? NFTs. In a combination of ways, we have not imagined yet.

Celebrities believe that NFTs and blockchain will be beneficial all over the world. They’re only too happy to find the best projects and invest in them. People want to get involved in a cause greater than them. What better way to do it than backing people with a vision to build a cool product? Interest in NFTs and blockchain are at all-time highs. Venture funding has followed in the same way.

Distribution of Content Production to more places via Blockchain

Environments for creative talent to deliver their best do not need to limit to a few places. The internet has enabled anyone from the world to become a creator. But, it is still reliant on a dominant advertising-based model. As a result, a fraction of the talent is making a majority of the money. While a majority of talent still struggles to survive. Is there a way to fix this? NFTs and blockchain promise to do that.

NFTs and blockchain technology help celebrities build direct connections with fans. For instance, fan interaction and transaction is there on the blockchain forever. As a result, fans are able to contribute to the network with better incentives. As a result, celebrities get to be a part of a community with shared interests.

Being Early Adopters and Popularity of Tech Culture

Each new phase of technological adoption starts with a small community of members. In time, more use cases get built for the underlying technology. This adoption phase then finally makes its way to the rest of the population wherever needed. Celebrities are amidst power figures of business, technology, politics and culture

For instance, among celebrities, a few started becoming involved in backing tech start-ups. Monetary returns aside, the network attracts other celebrities to follow the early trend-setters.

Once a new technology makes its presence felt in a major industry, it starts testing in others. The best technologies become the new standard of industry and humanity. Now the whole cycle has to start again. This is because the rest of the market has caught up to the technology and now it’s not that valuable anymore. We need something new again.
NFTs and blockchain technologies are being adopted rapidly across the world. They will become the industry standard within this decade. Celebrities embody how the rest of the population is likely to consume NFTs in the coming years.

Conclusion

The world is in a stage of transition at the moment. Celebrities across the world find themselves in the same boat as the rest of the population. Much like us, they need to be up to date with regards to their network’s proximity to global and local trends.

NFTs and blockchain technology represent the perfect set of forces for celebrities’ value. This is because art gravitates towards the decentralization of power and economic equality. Celebrities understand this more than anything else.

NFTically is a software-as-a-service company focused on helping brands, enterprises, and creators to achieve successful initiatives from their NFT and blockchain projects. . For further information, you can connect with the NFTically team on Discord and Telegram.