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What’s else in Store Today? 🎁
Welcome to the Creator Mall 🛒
Cross-posting and monetizing 💵
NFTs are here to stay 💫
No Cuts till 2024 🤝
Creator Marketplace is here
Instagram is now testing a creator marketplace where brands and creators can easily collaborate and build partnerships. It has 4 parts to it:
→ Discovery: By adding interests that are most suitable to them, creators can be found by relevant businesses for collabs that would coincide with their niche. This will help creators in developing credibility amongst their audiences and procuring more partnerships.
→ Partnership Messaging: To keep things organized, messages from brands will go to a dedicated folder- “Partnership Messaging” at the top of the Primary Tab instead of message requests.
→ Projects: Just like briefs, projects include all pertinent information, specifics, and rates for a collaborative endeavor. The Partnership Messages folder is where projects can be sent or received.
→ Payments: Instagram is also planning to integrate a payment system within the app for creators and brands. They can also keep track of all their payments in the “Tools” section of their dashboard.
Micro-influencers will rise 💸: Macro-influencers are easily approached by the brands than micro-influencers due to their higher discoverability. With the inception of the creator marketplace, brands will be able to contact and collab with promising micro-influencers in their niche too. This will catalyze the growth of micro-influencers as they’ll be able to get more opportunities.
Collabs to get more organized 🤝: The creator marketplace will make it easier for brands to contact influencers on the basis of their project without having to hunt for mails and phone numbers of creators or their managers. Moreover with options like ‘projects’ and ‘payments’ , the entire process of collaboration will become.
Creators to enjoy FB benefits
Earlier, creators could showcase their Instagram reels on Facebook but not much action can be taken on them by the viewer. Instagram implemented a very small but important change to its platform by allowing creators to ‘cross-post’ their reels on Facebook. This will help Instagram influencers enjoy monetization tools available on facebook such as star badges, overlay ads, bonuses etc.
Mo’ popularity, Mo’ wealth 💰 : By crossposting, creators will be able to establish their personal brand on facebook as well. Let’s admit it, FB’s organic reach is dead when it comes to normal posts. However, the engagement for short-form videos is pretty decent. Thus, cross-posting reels will surely increase the popularity of the creators by helping them not only get discovered by facebook-only users but also drive in higher engagement.
In addition, Facebook has effective monetization tools such as star badges, overlay ads etc. which can be utilised by creators to generate decent passive income. Hence, even though the change is small, it has the potential to positively impact the creator space.
✨ Want to know more about cross posting and other monetization tools? Click on the button below and type “Monetization tools” in the chat message 👇
NFTs are going places!
In May, Meta introduced NFT support on Instagram for select creators in the USA. With a small group of creators, Meta has now done the same on Facebook. These creators will be able to display NFTs on their profiles under a separate tab, and the NFT will have a “digital collectibles” mark on it, to distinguish it from normal posts.
In addition, Instagram has also expanded the NFT functionality to about half-a-dozen countries owing to its positive response in the USA. Cross-posting across platforms is going to be implemented soon as well.
NFT Marketplace coming soon? 🛍: With the current rate of expansion, NFT functionally on Instagram will soon be available across most of the countries around the globe. Although, it still seems a bit far-fetched but NFT marketplace could soon be integrated on Instagram wherein creators can market their NFTs and their fans or collectors can purchase it through a payment gateway.
Such an integration seems a real possibility considering that Instagram is rolling out new features every now and then for the betterment and professional growth of creators. It can be a step in the positive direction as it will provide a new stream of revenue for creators.
Top NFT influencers to watch out for in 2022
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Your revenue is completely yours till 2024
Earlier, Meta CEO, Mark Zuckerberg, had said that the firm will not take any cuts from creators till 2023. However, recently the company has decided to “hold off any revenue sharing on Facebook and Instagram until 2024”.
As per the tech platform Engadget, the change would apply to various monetization tools including paid online events, subscriptions, and badges sold during live streams when creators charge their fans directly. However, it does not apply to Meta’s revenue-sharing guidelines for Reels and other video formats that involve advertising.
Providing boost: The decision to hold off any revenue sharing is quite futuristic and helpful for upcoming creators. With the inception of new monetization tools and features, it’ll take some time for creators to learn how to maximize the full potential of these tools for their benefit. Thus, not taking any cuts initially will empower the creators to explore these new features freely without having to worry about their revenue share.
Ending Note:
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