SparkDAO Industry observation | NFT has attracted the attention of brand giants, and the encryption community may become the new consumer subject

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Countless celebrities are buying bizarre NFT and putting them in social media profiles, and many think the current NFT is just a hype and nothing but get the rich to show their influence. NFT like Bored Apes and CryptoPunks can cost hundreds of thousands of dollars, a status symbol that ordinary people cannot reach.

However, the NFT hype has distracted us from the real attention of blockchain technology: to redefine ownership, from tangible goods to digital assets, and to empower artists to create their own value around their work and really profit from it.More importantly, the encryption community developed around NFT projects is increasingly showing high spending power.In short, by focusing on influence, NFT is gathering a consumer group with a distinctive aesthetic.

Why traditional brands choose NFT?

The NFT market like Opensea is booming, attracting the attention of global artists, and offering them the opportunity to profit from their work in unprecedented ways.Last March, for example, when Beeple sold his collage of Everydays: The First 5000 Days for $69 million, he jumped into the ranks of the most valuable living artists.

Music artists have also noted this.In late January 2022, Toro Gato was the first person to release the album entirely as an NFT.In early February, Warner Music reached a deal with the NFT platform, OneOf, to help their artists create the NFT. While the NFT music architecture is still in its infancy, the field is certainly going to explode.

The NFT community is highly overlapping with the encryption community, sharing many of the same properties.Those who want to buy and sell NFT often learn more about trading strategies from the crypto community.Most projects have their own community channels, such as Discord and Telegram.Here, early action and announcements can be found, usually before NFT landed on OpenSea or other markets.Slowly here gathered a group of players with purchasing power, and the big brands are eager to reopen the breakthrough of consumption here.

The community became the most important breakthrough

The community is the power to turn the NFT engine around.In many cases, they are the driving force behind the success of the NFT projects.In fact, they played a important role in the tremendous growth of the industry.While Twitter is the central hub for KOL, the largest community for NFT enthusiasts is located on Discord.

Players behind the community are shopping in various NFT markets, but the way you build around the community in the NFT field is different from the usual online community.This new type of community-building approach benefits everyone with an NFT.On Discord and Twitter, thousands of people joined chat groups for the projects they purchased and created closely linked community working mechanisms around specific projects.These communities offer incredible value and opportunities, which I call an intimate social approach that was unmatched in the Web3.0 era.

Future encrypted wallet data for each community participant and NFT purchaser, such as transaction ID, transaction time, ETH balances, and existing NFT holdings, will yield greater realistic benefits.With the immersive development of communities, it is not ruled out that they will become new consumption units in the future, which will be a reshaping of the consumption pattern in the new era.

*The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of SparkDAO. Every investment and trading move involves risk, you should conduct your own research when making a decision.