Lưu trữ cho từ khóa: social media

Beeple’s first solo exhibition will premiere at China’s Deji Museum

Renowned digital artist, Beeple, announced that his first solo museum show will be held at the Deji Museum in Nanjing, China in November 2024.

On his X account, renowned artist Michael Joseph Winkelmann posted a video from Deji Museum revealing his debut solo exhibition that will take place at the Deji Art Museum in Nanjing on Nov. 14, 2024.

The title of his exhibition is Beeple: Tales From A Synthetic Future, which will feature prominent digital art pieces throughout Beeple’s career.

The museum claims on its social media account that the event is set to be Beeple’s largest solo exhibition to date and will feature some of his most iconic works, including Everydays, Human One, S.2122 and pieces created exclusively for the Nanjing exhibition.

“I am pleased to announce my first-ever solo museum show opening at the Deji Museum in Nanjing, China next month,” said the artist professionally known as Beeple.

On Oct. 1 Beeple released his latest artwork, The Tree of Knowledge, which uses a kinetic sculpture series that was first introduced in his piece Human One. The artwork features the image of a digital tree overlapped by news footage from various media outlets.

“By turning the dial between signal and noise viewers see the difference between a serene future where technology and nature coexist and a chaotic present filled with real time data, media and information overload,” he said in the post.

The Tree of Knowledge was first unveiled at the Italian Tech Week where it was announced that the piece has been acquired by Lingotto with the funds going to Beeple Studios’s non-profits, which are Art into Acres and Big Green.

Over the years, Beeple has grown to become an acclaimed artist in the non-fungible token space. He is most famously known for being the first artist to have a digital piece sold via Christie’s famous auction house.

His artwork “FTX Board Meeting, Day #5676 11.13.2022 (2023)”, inspired by the Sam Bankman-Fried rumored sexual escapades with the FTX staff, became permanent addition to The Castello di Rivoli Museo d’Artte Contemporanea art museum in Italy.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

SocialFi, web3, and UX: Cracking the trillion dollar creator economy | Opinion

SocialFi is a web3 industry attempt at solving the problem of monetizing digital content—the genuine issue affecting millions of talented creators worldwide.

From the perspective of daily users, it might be hard to see creators struggling. However, despite producing quality content daily, the overwhelming majority do not make any money at all. Many SocialFi projects have been launched in the last couple of years, aiming to solve this very monetization part by rewarding every digital interaction for both creators and users. Unfortunately, most seem to have missed the mark by leaning too heavily on aspects of decentralization rather than offering real-world solutions to existing problems. 

The origins of mass interest in this space occurred during the pandemic lockdowns. With the idea of pursuing a passion-based career becoming more mainstream, the future of social monetization was catapulted into a new growth phase. This was also a time when the crypto industry saw a mass influx of retail investors, with industry narratives steering towards building pragmatic, real-world solutions. This led to significant advancement in the SocialFi movement, and plenty has been achieved since then in terms of on-chain innovation, tokenized community governance, integration of NFTs, and other DeFi products that authentically bridge issues around creator monetization and user rewards. 

Yet, as a sector claiming to be the future of the trillion-dollar creator and freelancer economy, the modest market cap of SocialFi tokens is over $2 billion. This indicates that the sector has a long way to go in establishing itself into a global financial ecosystem. Contrast this with DeFi’s market cap (around $70 billion) or even of NFTs (around $62 billion), and it’s clear that SocialFi has a long road ahead. 

Thankfully, there are signs that SocialFi platforms and the utility tokens that power them have a bright future. This is seen in the significant volume of new users willing to join a newly launched SocialFi platform. Sure, many of these users are only there for the free rewards, but that’s the current norm for web3, whether they like it or not.

The benefits of SocialFi

To benefit from such early user traction, builders in SocialFi must be real with themselves when designing a product. The reality is that very few creators care about (or will even benefit from) decentralized content ownership or on-chain proof of IP rights. Although this is a USP widely marketed in web3, it only benefits the top 1% of celebrity creators in the world. 

What about the masses? What USP will win their attention and loyalty? The answer to this holds the solution for how SocialFi platforms can finally win market share from Big Tech’s platforms, and central to this is building hybrid ecosystems. This means fusing blockchain features (such as tokenization) with non-blockchain architecture, providing an intuitive and seamless user experience for the masses. 

While DeFi and blockchain technologies have a variety of clear benefits and value, mass adoption won’t happen if web2 users are required to get past the web3 wall of creating a digital wallet, store a 20-word seed phrase, and interact with an unfamiliar user experience. If creating an account is harder than starting an Instagram account, you’ve already lost 95% of all potential users. From a user experience standpoint, people cannot be held back by the intimidating web3 gates. 

Appealing to the masses

The winners in this space will focus on the narrative that appeals to the masses, building a community of real creators, empowering them with web3 education, and implementing real-world token utility into a seamless user experience. That’s the formula for SocialFi’s success. 

Without a doubt, the SocialFi community is tackling these challenges, and 2024 remains a crucial year for projects in this space. The current wave of innovation is the most exciting one, as projects roll out user-centric features that focus on user experience and build upon the value that traditional platforms have already created for the creator community. Tokens matter, but as a secondary driver of growth, and should only exist as a medium to enhance the user experience. This realization will shape the sector moving forward.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

From views to value: The future of blockchain innovation in social media | Opinion

The age of direct-to-consumer is here in all aspects of the game. The $250 billion creator economy isn’t immune to this change either.

For long, traditional social media platforms have acted as gatekeepers of revenue flows, limiting ways in which creators, their followers, and unassuming advertisers engage with each other.

After seeing multiple web2-based iterations fail to balance these three pillars, it would seem the future is rightfully leaning toward web3 to democratize social media.

Empowering creators, users, and advertisers

According to a report from Mordor Intelligence, the impact of blockchain in the media, advertising, and entertainment market is expected to soar to $27.29 billion by 2029, at a CAGR of 78.49%. This transformation, which we are witnessing live, has been made possible with the emergence of defi integrations, which cut out the middleman and lay the groundwork for a new era of creativity, engagement, and trust. 

From offering solutions to dated problems like digital piracy, skewed royalty distributions, and monopoly of user data, blockchain tech is now finding rampant use in redefining human interactions. It starts with empowering creators, without whom such platforms become just another community chat center.

By thinking beyond brand engagements, SocialFi platforms are helping create a model where loyal, paying communities sustain creative livelihoods. While existing solutions focus on only the creator, the other two legs of the system — users and advertisers — can no longer be ignored. 

Here is where a tokenized ecosystem comes into play. By enabling creators to earn directly through audience engagement and rewarding every user for their digital footprint, SocialFi’s next phase should create mutually rewarding processes for everyone involved. This approach not only democratizes earnings to ensure creators are compensated fairly but also boosts user engagement by blending the interests of creators and their audiences. 

Additionally, advertisers who are part of this ecosystem have greater control over their spending, getting to engage better with the entire user spectrum and thus projecting better returns on their investment.

NFTs for digital ownership

A few years ago, NFTs appeared with a bang but quickly sobered down as hype clouded their real-world applications in tokenizing digital assets. That being said, the sector continues to see healthy funding as investors bet on its applications in industries like art, real estate, photography, music, and social content — in essence, a connection with RWA.

We’re increasingly seeing that merely making content decentralized isn’t enough. There needs to be a way to stamp your IP on it, and monetize forever. In this regard, NFTs enable creators to have true ownership with the added prospects of merchandising and recurring revenue. 

Another point to consider is the emergence of short-form visual content as the most popular form of content on the internet today. Despite their popularity, copyright violations and lack of creator credits disregard the efforts of digital participants. By offering genuine scope for visual content to be instantly converted into NFTs, SocialFi platforms can add a layer of transparency and monetization, previously untapped. 

Despite such inherent potential, integrating blockchain into the media industry is not without its challenges. Issues like scalability and interoperability aren’t new, and much rides on emerging low-code solutions that enable developers to build scalable L2s, more effectively and at lower costs.

Several networks, like Sui, for example, provide a robust on-chain development environment and equip platforms with high throughput—a crucial factor in media applications that demand high transaction speeds for optimum user experience. 

Building on-chain also ensures that decentralized and mainstream fintech tools can be plugged into a common ecosystem. Not to mention the preservation of intellectual property and thwarting cyber attacks by governing such platforms on-chain. All these factors are especially useful for seamless real-time payouts, including for micro-payments, which traditional fiat based transfers cannot service due to high transaction costs. 

The complexity of web3 interfaces may be its biggest impediment for now, but with newer platforms incorporating the familiarity of web2 with the flexibility of defi, the opportunity to bridge two different worlds has never been more achievable. 

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News