Nefting, will NFT solve the issues of the Creator Economy?

The Creator Economy continues to evolve with technological innovations and new ways of consuming. While everyone agrees that blockchain technology is here to stay, the new use cases are not yet embedded in our daily lives. While content creators are becoming increasingly crucial, they also face several challenges. Nefting has decided to help them meet these challenges by offering solutions based on NFTs!

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Web3, a new hope for the Creator Economy?

Within just a few years, creators are now communicating with their communities via Instagram and other Web2 digital platforms. Their job is no longer just creating content, as it has become essential to promote it with digital marketing and community management. This is true even if the initial aim is to generate original content. Will this continue to change?

Today, a significant portion of data is aggregated and controlled by a small number of entities like Facebook, Instagram, Google, and similar tech giants. We’re talking about these famous GAFAMs, on whom we depend to exchange with our community and share content. They even go so far as to use our data to feed artificial intelligence models without asking our opinion. This concentration of power can lead to certain abuses of their dominant position. For example, sales via an application available in Apple‘s mobile store are subject to a 30% commission.

So, in both the video game and music industries, creators are subject to extremely unfavorable conditions, with few possible alternatives. What’s Web3 got to do with it? Coinpri explains it to you in a coinpri-hensible way. 

Connecting creators and fans?

One of the most basic uses of blockchain technology is to cut out the middleman. Why go through Instagram to send a message to your fans when other tools allow you to do so?

  • Directly, using tools that avoid the intermediaries who can alienate relationships between ecosystem players
  • In full transparency
  • By keeping control of your data and respecting your users?

Of course, not everyone has yet adopted the tools of tomorrow. But now’s the time to be among the first! 

Perhaps your life would have been different if you’d been interested in Instagram when it was first created a dozen years ago, before the app turned our daily lives upside down…

Isn’t this an opportunity for both creators and users to adopt a fair alternative, in line with users’ rights, where value is redistributed with complete transparency?

A new platform on the horizon?

The alternatives that are emerging are created by entrepreneurs who dream of making accessible these new uses that will shape our future. We tell you more about Nefting (pronounced [NFT-ing] if you’re wondering), a project co-founded by Benjamin Boulin, Emmanuel Brault and Nicolas Page and incubated at Station F. 

Nefting is a turnkey solution for creators who want to develop interactions with their community and monetize their content. Create truly interesting engagement, break down geographical barriers, empower fans and share value creation fairly. Utopian? These are the challenges that the Nefting team has decided to take up!

With Nefting, new possibilities

Nefting shares its vision: empowering creators and their communities through NFTs! How does it work? Coinpri sums up the essential features that are out of the ordinary and could well become the norm in the future:

The value created through content creation is then distributed freely and openly, with revenue sharing:

  • On new sales
  • On the second-hand market
  • As a curator, a community member can contribute to the development of the project, promote the content and receive a percentage according to impact.

All transactions take place on public blockchains, for unparalleled transparency compared to web2 standards. Smart-contracts (i.e. decentralised algorithms that can also be read on-chain), ensure that exchanges take place without intermediaries and in complete confidence. And all this on the BNB chain, Ethereum and Polygon blockchains, with the aim of multiplying integrations to remain as open and accessible as possible. What’s more, this allows artistic works to be authenticated with extremely reliable traceability.

New models can be explored, with room for experimentation to ensure a fairer balance. For example, a group of creators could come together to offer their works and share the revenues.

As we’ve seen, blockchain offers use cases we might not have thought of at first glance. The benefits of blockchain technology could actually revolutionize the way we see, interact and create on a daily basis. Will designers embrace this change by taking communities to new horizons with Nefting? The rest is up to you!