Whether you work in tech, football, art, or social media, you are probably familiar with NFTs and digital collectibles.
In this post, we will explain what a digital collectible is, why Instagram have started offering them, and how you can get started using them.
A digital collectible is a limited edition virtual item. They often come in many of the same formats as NFTs such as trading cards, artwork, video clips etc.
Over the past two years we have seen the collectible and NFT market boom. According to Market Decipher, the market reached $402 billion in 2021 and will continue to grow to $1 trillion by 2032.
Businesses that range from everything from football clubs to mobile games are riding the wave of this web3 trend by using blockchain technology to create digital collectibles. As a result we have seen the digital collectibles market explode.
Digital collectibles are an enticing market opportunity for many businesses. As they are digital they often require fewer resources to create and distribute meaning you can start creating digital collectibles for your audience with lower initial investment compared to physical collectibles and other items.
A digital collectible leverages blockchain technology that allows you to transfer ownership and distribution instead of creating copies. Your audience then knows they have a unique item and that the transfer of ownership of their digital collectible has an immutable record that is kept to verify it. This lets collectors know that their investments continue to be unique or rare and that it cannot be stolen.
You now know what a digital collectible is by what they are getting so popular and why has Instagram started offering them?
Digital assets have a lot of benefits. Some of the obvious ones are:
You or your audience can connect a digital wallet and share your brands NFTs via the Instagram app.
Digital collectibles will be displayed with a shimmer effect and can show public information, such as a description of the collectible or NFT. The creator and collector can be automatically attributed in the digital collectible post so your brand will get free publicity every time one of your audience shares their digital collectible to their feed.
Instagram’s digital collectibles feature is not currently available everywhere. It is being released on a limited basis, starting in the US and it is expected to allow users to share across Facebook and Instagram in the near future.
The collectibles and NFT market is booming. Brands are riding the web3 wave and giving their audiences what they want by creating limited edition virtual items for them. If your brand is ready to get started with minting your own digital collectibles , check out our NFT marketplace now.
See inspirations here:
We connect brands and global audiences through the power of content and leading intelligence. Contact us to discover how we can help.
Our Streams content marketing tool allows brands to understand what content is hot and discover new content trends before anyone else. Sign up for a 14 day free trial today!
