New NFT trends that can drive the entertainment industry

NFTs quickly took the world by storm, having been used in all sorts of industries. Building on the foundation set by blockchain and harnessing the power of pop culture, NFTs quickly became a favorite in the entertainment industry.

From Stranger Things launching NFTs ahead of its final season to Coachella unveiling NFTs as admission tickets this year, the entertainment world is exploring what NFTs can do in a big way. But what can we expect from the future?

Even as NFTs strengthen their presence in entertainment, a number of trends are emerging in the space. Here are the top NFT trends that could dominate entertainment.

NFTs as games to make money

One aspect of the entertainment world that has embraced NFTs heavily is gaming. GameFi, which offers games while leveraging blockchain technology, has become particularly popular in recent years. One of the reasons for this has been the rise of games to make money. This type of game allows players to earn rewards for their participation.

These rewards can be anything from NFTs themselves to actual cash, and naturally the world has taken notice.

There are several recently released games that have become shining examples of what can be done when play-and-earn NFT games are given a chance. One of these is BeaRex, a blockchain-based game that uses the classic “runner” setup.

This essentially gives players the best of both worlds in that they can engage in play-and-earn. BeaRex also intends to release a multi-series and NFT holders will receive a profit from the distribution.

While there is the play-to-earn aspect, it also uses the free-to-play model which is combined to form the play-and-earn system that BeaRex runs on. What this means is that users can either choose to play for free without having to buy an NFT, or they can buy an NFT if they want to earn rewards for their efforts.

This essentially gives players the best of both worlds in that they can enter games to earn or forfeit as they wish. BeaRex also intends to release a multi-series in the future.

Look to earn

It’s no secret that users’ attention is big money for advertisers in this age of free online content. Streaming sites, influencers and many others make millions by attracting and retaining viewers. But these economic benefits are rarely directed back to the public.

There have been efforts in recent years to level the playing field in the blockchain industry. It all started with platforms like Brave, a blockchain-based browser, which gives users crypto to view ads. The NFT space is now starting to embrace this idea with giants like Coub.com – a video platform ahead of its time created 10 years ago, visited by over 100 million users every year.

Coubs are 10-second videos that went viral long before TikTok took over the market. These video clips are usually packed with pop culture references and prime meme material. While Coubs have been shared on the internet literally every second for years, the upcoming product version based on Web-3 technology is expected to reinvent the interaction model by rewarding those who create and watch such videos.

With the Coub NFT Marketplace, users will be able to mint clips as NFTs and sell them. Holders will receive crypto rewards when their content is interacted with through views, likes, comments or reposts. And, most importantly, NFT collections will have an inherent value, which will allow users to track statistics and predict the future potential of a particular clip and thus the profit it can bring.

Conclusion

NFTs are still on the rise despite the crypto downturn; from Madonna and Justin Bieber joining the trend, to model Bella Hadid releasing her own collection, Hollywood has caught the fever. But as digital collectibles become even more popular, it’s crucial that all creators, even the lesser-known ones, have the chance to succeed.

This is what Growth Channel, an automated marketing intelligence platform, tries to do. The NFT marketing space is growing rapidly, but given the number of resources pouring into the industry, smaller projects are at risk of being shut out of the market.

But Growth Channel plans to continue. It is convinced that by identifying the right audiences and marketing channels for NFT promotion, inside and outside of Hollywood, the industry will continue to flourish.

“NFTs are an exciting but complex space, especially for new and ambitious entrepreneurs who just don’t know where to start. We provide these projects with the clear go-to-market strategy and advertising solutions to reach audiences and reach project milestones, says Maryna Burushkina, founder and CEO of Growth Channel.

Growth Channel supports NFT and Web3 companies in data-driven market research, addressable audiences and digital advertising with access to 150+ channels for audio, video, mobile, native and DOOH.

With a few opportunities for potential growth, the jury is out on the overall long-term impact of NFTs, but so far the sector has found several niches that it benefits from in the entertainment industry.