What brands need to know about NFTs – non-fungible tokens NFTs- non-fungible tokens are the latest buzzwords to emerge from the cryptocurrency space. Chances are you’ve heard about NFT auctions generating millions of pounds for seemingly worthless pixels. Maybe the whole thing just makes no sense. Or perhaps you’re thinking of how you could use NFTs as a brand? Here is what brands need to know about NFTs or non-fungible tokens: NFTs are digital coupons that entitle you ownership of a digital thing. If it’s vintage, it’s gold. Nostalgia generates revenue. Digital land grabs are happening. Celebs are selling out and cashing up One of a kind According to Forbes, “Although they’ve been around since 2014, NFTs are gaining notoriety now because they are becoming an increasingly popular way to buy and sell digital artwork. A staggering £123 million has been spent on NFTs since November 2017.” It’s essentially a coupon that entitles the buyer to own a digital good. That could be a piece of art or something more abstract like a dancing cat video. Because it’s one of a kind, it creates the same scarcity that posthumous artworks do. It’s made up of snippets of code that can’t be reproduced and are stored using the same tech that enables crypto. In fact, most NFTs are bought with cryptocurrency. Nostalgia reigns Maybe it’s just because so many crypto-investors are millennials but 80s, 90s and 00s nostalgia is fetching a hefty price. From beloved YouTube videos like ‘Charlie Bit My Finger” to bespoke collections from Atari for Centipede and Pog; if it’s retro it’s selling like hotcakes. Buyers are snapping up NGTs for digital nostalgia at an alarming rate. Want to own digital Dunkaroos biscuits? It’s possible. For brands with a history in the recent past, this presents an opportunity to monetise old assets in new and exciting ways. Acres of bits A digital land grab is happening too. From parcelling up the real world into fake lots or selling off bits of the ‘digitalverse’; people are buying and selling digital real estate. Why should brands care? Well, it’s expected to boom in the next decade. According to Republic, “Humans now conduct much of their lives through a screen, and virtual worlds that exist only on computers have cropped up. These are places where people can “congregate” by using avatars and have interactive social experiences–entirely virtually. These online communities are called metaverses.” And you can buy them. Is there an opportunity to advertise your product or service in the hubs? Maybe you want to own the metaverse around your actual offices? The possibilities are still unfolding. Celebrity payday From selling the rights to unreleased tracks to making digital doodles, celebs are cashing in. And that’s good for their relationship with fans. But is there a way for brands to participate? Think about famous ad collaborations that would make a great NFT. Do you own “Where’s the Beef?” or “Got Milk?” – those clips could net you millions. Consider your back catalogue of popular ads and highlight any that could see new life as an NFT. And if you need to learn how to sell them, this guide is helpful. Want to talk about NFTs- non-fungible tokens, websites or anything else on the internet? Our expert team is clued in.
How to Earn More With a Side Hustle! Most commonly known as the ‘side hustle’, there is a distinct rise in the number of people who are taking on a secondary business. Usually to supplement their salary and open up their professional opportunities to new avenues and adventures. There are loads of ways to earn more with a side hustle. For many of these business-savvy individuals, what starts as a side hustle can often become their primary passion and main working focus. So, what makes for a successful side hustle and how can you make it work for you? What makes a side hustle successful? Like many areas of business, there is no exact formula to making something work. Each business is individual, with its own recipe for success and growth. Obviously, time management is key when working a traditional job and a side hustle, and the more time you are able to channel into your secondary business – the more successful it will likely be. The benefit of a side hustle is that it isn’t your main source of income (at least, not yet), and so you are free to give it as much time and attention as you wish. Once you’ve decided how much of your life will be run by the side hustle, there are a few things you can do to maximise your success. Trial and Error The first thing to do is ensure that you’re spending your time on something worthwhile. Whether it’s a product or a service that you’re offering, encourage friends and family to be your guinea-pigs and provide constructive feedback, so that you don’t end up spending your time on something that will become a flop. Keep it on the side It’s important not to jump in too quick. You may be loving the work you get on the side and may think that the more time you give it the more it will grow. But the reality is, it’s unlikely you will be able to switch your side hustle from a small idea to a full-time job overnight, and so giving up on your day job would be a risk too far. Ensure you’re still channelling plenty of energy and enthusiasm into your day job, as it can be easy to lose motivation and start turning in bad work once your priorities shift. Your day job is still important – both financially and professionally – and you don’t want to lose the great reputation you’ve spent your career building. Work-Life balance The age-old work-life balance is something some people really struggle to entertain, yet it is so important to your own wellbeing. Make sure that, even with your side hustle, you’re still allowing yourself adequate time for rest and personal activities. Invest in what’s important Don’t just throw money at your new venture in the hope that it will deliver a good return. Spend your money on what’s important – whether it be a website or a physical workspace in which to conduct your side hustle. Buying a brand-new laptop if you’ve already got one when you don’t yet know the value or anticipated success of your side hustle, is unwise and likely a waste of money. Having said that, ensuring you have the right tools to maximise your success is important, and you should think carefully about which tools you need to progress your side hustle forwards in a positive direction. Do you need a website? Would an app help you to manage your time and keep a handle on the tasks that need completing? These are questions only you can answer. Enjoy it! If you’re going to be spending much of your spare time on a side hustle, make sure it’s something you enjoy doing and that you are passionate about. Motivation is everything when it comes to side hustles, and so choosing to progress with something you enjoy is vital. Having the right tools can help. We’ve got a great list here. Set goals Set yourself small and large goals and make sure you keep track of them. So many people write themselves checklists and goals, only to lose the paper they wrote them on and forget about them entirely. There is no point in having goals if you aren’t going to check in with them, so use it as an opportunity to start small and work your way up – and who knows, maybe one day you’ll look back and be proud of all the goals you’ve achieved! Whether your primary reason for starting a side hustle was to earn some more money or to engage in one of your passions, a side hustle can be a great way to use your time to both a personal and financial advantage. Determine how you can earn more with a side hustle you’ve already started on. Or start fresh and pick something you enjoy and that you can envision growing – after all, there’s a chance that one day this may become your sole working commitment, and so you want to make sure it is as successful as it can be! Are you looking for a side hustle? If so, why not check out our affiliate program. We pay a very generous commission of 50% recurring for each referred client that signs up and you earn every month they remain a customer of ours! Click here to find out more.
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