Non-Fungible Tokens (NFTs) are at the ‘unfolding edge of digital culture’, shares our special guest Nicolas Roope, co-founder & creative director, PLINFT in this latest episode.
However, it’s a roller-coaster ride for the NFTs marketplace. After staggering speculative interest in 2021 where sales hit US$25bn, in the 2022 third quarter NFT sales fell sharply to US$3.4bn, down from US$8.4bn the previous quarter and $12.5bn at the market's peak in early 2021, finds blockchain tracker DappRada.
In parallel to this speculative context, NFTs are ushering in new concepts for media experiences to connect brands to people. Brands today are feeling their way in this emerging, ‘test & learn’ space, dipping their collective toes in the ‘digital waters’ to explore how to leverage tokens to make a meaningful connection.
Helping to understand the nascent opportunities for brands and to provide some clear definitions – from ‘What are NFTs?’ and ‘What is minting?’ to importantly, ‘What is Web 3?’ host Ben Downing, Global Managing Director, Ethical Media & Strategic Partnerships, Havas Media Group talks with Nicolas Roope from PLINFT. Seeking to build a creator-driven NFT community PLINFT most recently used Times Square’s digital billboard as a ‘portal to take the NFT world to the mainstream', using a fractionalized advertising model which allowed individual NFT owners to ‘get their moment’ on the screen. Nicolas is also the co-founder of Poke, Plumen, and the Lovie awards.
“The smart strategy for brands,” says Nicolas, “is to do something, but not pretend it’s more significant than it actually is or to be too deterministic about what you think the value will be.”
During the conversation, Nicolas references the Adidas POAP (Proof of Attendance Protocol) activation, you can find details on the POAP here.
Enjoy this NFT special episode!
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