Are influencer collectibles the next big NFT trend? A Pontem Network perspective

How can influencers earn money selling NFTs?

Image: The Verge
  • A YouTube video or snippets from it. For example, NBA Top Shots releases packs of its best game moments as NFTs and sells them on the official marketplace. And travel video creator David Hoffman (Davidsbeenhere) is now preparing to turn a clip about his travels in India into an NFT;
  • A Tweet or Instagram post: an NFT of Jack Dorsey’s first tweet was sold for $2.9m, so why not? Of course, bloggers would do well to choose their most popular and liked posts for NFTs to maximize the selling price;
  • Whole blog posts;
  • Signed images: for example, the blog image that get pinned most on Pinterest, with the influencer’s digital autograph on it
  • Custom-created content: how about a best recipes eBook or a detailed travel guide that is published together with an NFT, and the NFT buyer gets it first?
  • Simple signed NFTs: anyone who has an account on Instagram, TikTok, YouTube etc. can issue NFTs with their autographs or tokens that will grant privileges to holders, such as access to hidden content or special giveaways — the possibilities are endless.
Source: OpenSea
  1. The buyer is a fan and wants to ‘own’ a piece of the blogger’s creative production. If an influencer has lots of followers, the competition for each NFT will be higher, as the final auction price.
  2. The buyer is an investor and expects the token’s price to grow in the future. It makes more sense to buy the NFTs of the most popular bloggers, since they will appreciate most in the secondary market.

Why minting NFTs on Ethereum is a bad idea for bloggers

  1. Blockchain fees. Most NFTs are issued on the Ethereum blockchain, where you have to pay for gas. NFT minting involves a complex smart contract and thus requires a lot more gas than simply sending crypto. Plus, the gas has been very expensive in the past few months, so you can expect to pay at least $50–100 in gas fees per NFT collection.
  2. Marketplace fees. While you can issue an NFT on your own, it will be hard to promote it and find buyers. That’s why most creators work with NFT marketplaces like OpenSea and Rarible. And while minting NFTs on OpenSea is technically gasless and free, there is a gas fee to initialize a seller account and accept a bid from a buyer — expect to pay around $150 in total. On Rarible, the costs can exceed $600.
In 12 months, ETH transaction fees surged from $0.15 to $30. Image: Bitinfocharts

Diem by Facebook can potentially be used as an NFT platform — but there are major challenges

  • Regulatory complications. Diem will be a heavily regulated platform under constant scrutiny by the authorities. This means advanced KYC and severe limitations on who you can sell NFTs to.
  • No clear timeline. For now, Diem only works in testnet. The company is working on getting a Swiss payment license and expects to launch a stablecoin on the mainnet sometime in 2021. However, it can take much longer than that to implement Diem-based NFTs.
  • AML checks and personal data concerns. You’ll need to provide a lot of personal information to be able to issue NFTs on Diem. How Facebook will treat that information is an issue in its own right: for instance, in April 2021 the data of 500M users was leaked because of a simple bug.

Meet Pontem Network — an attractive solution for influencer-issued NFTs

  • Get a headstart: NFT minting will become possible on Pontem much earlier (possibly years earlier) than on Diem. While Diem is still struggling with its regulatory and licensing hurdles, Pontem will already be fully operational.
  • Sell NFTs to anyone: users from any country and jurisdiction will be able to buy NFTs in Pontem Network. And thanks to Polkadot’s interoperability features, you’ll also be able to accept payment in assets issued on different blockchains (ether, for example);
  • Migrate to Diem any time: Pontem uses virtually the same codebase as Diem, and our Polkadot parachain will interact with Diem through a handy bridge;
  • Stay private: you don’t have to provide your personal information to use Pontem, so there’s no risk that it will be leaked or sold;
  • Save on fees: using a Polkadot parachain means that we don’t have to deal with Ethereum gas fees. Transactions in Pontem will cost just a few cents, allowing influencers to extract more revenues from their NFTs.

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Pontem Network

Pontem Network

Aptos Blockchain Product Studios