Powered by Pinata is a new series on the Pinata blog for readers to learn more about Pinata’s customer base. We’re honored by all the customers that use Pinata, and we’ll be sharing some of those customers’ stories while highlighting the most interesting brands in the NFT space. Note: none of these stories are sponsored, nor have we paid to work with these brands.
If you or your business were affected last week by the major outage experienced across Facebook, Instagram, and Whatsapp, then you already know there’s a major problem with big tech owning all of your data and how quickly your content can go poof in less than a day. Part of the movement of the web3 space is to combat this exact issue and give creators their power back to create content without any strings attached to the centralized corporations we’re dealing with today.
This week, cocoNFT launched, and this project couldn’t have come at a better time. Founders Mark Allen, Brody Berson, and Reid Robinson launched originally at the ETH Global Hack in March 2021, where they won a sponsorship prize from Pinata. Fun fact: The tech they used at the hackathon is still used by our team here at Pinata.
With cocoNFT, users can sell their Instagram posts as NFTs without any upfront mint or gas fees. The concept will totally change the game for influencers and businesses with large followings on Instagram and create an avenue for new creators to get in on the NFT space while it’s still growing.
If you’re not well-versed in NFTs or even the crypto space, don’t worry. cocoNFT makes it easy for just about anyone with basic computer skills to get started. With just six simple steps, including setting up a wallet and connecting your Instagram account so that cocoNFT can access your posts, you can start adding posts to cocoNFT within minutes. Once you select the post you want to turn into an NFT and set the price for it, you’ll be asked to share your signature twice to confirm your post and make it official. Once finished, you’ll receive a link from cocoNFT that you can share with followers and potential buyers.
One thing to note is that you can only turn standard image posts and videos into NFTs with cocoNFT. At this time, reels, carousel posts, and IGTV posts are not accepted.
With the arrival of cocoNFT, we decided to dive in and make our own Instagram. You can follow us on Instagram here to learn more about Pinata, our team, cool new features, and educational posts for the newcomers to the NFT world. What’s more exciting though is that in the next few weeks we’ll be turning some of our own Instagram posts, like this one below, into NFTs that you can buy yourself. So keep an eye out for some cool NFTs made by the team. ;)
For the creators out there who have slaved to build a large following on IG, or are just looking for new ways to make their art available to fans, we know how much work you’ve put into your Instagram feed. The good news is that if it’s instagrammable, it’s probably a good idea to make it an NFT. We can’t wait to see how you use cocoNFT!
paragraph — The first thing the music industry needs is more exposure. For artists, listeners and yeah, the labels. Even with the use cases mentioned above, the majority of the music industry still sees NFTs as a novelty rather than a legitimate way to run a business. We see a future where the experience is built and monetized on the blockchain, with labels taking part of the experience, as well.
Second, there needs to be a big jump in user experience. Listeners know what to expect with Spotify and Apple Music: a smooth, intuitive experience that lets them listen to Lil Nas X with just a few clicks. Web3 platforms aren’t quite there. Music NFTs and related premium content require extra steps that most people don’t yet have an appetite for.
paragraph — Musician Daniel Allan spent months building a relationship with the NFT community and raised 50 ETH to fund his new album, Overstimulated. Companies like Audius and artists like Vérité's, who raised $90,000 in an NFT launch, are at the forefront of exploring new ways to get paid. Avenged Sevenfold launched an NFT collection called "Deathbats Club" with 10,000 items that grants holders access to benefits such as meet and greets at shows, lifetime free tickets, limited edition merchandise, and more.
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QUOTE — Everyone is obsessed with making money and seeking alpha, which does a disservice to what [NFTs] can actually do. We have been instructing many bands that NFTs are a ticket for access to an exclusive club.” - M. Shadows, Avenged Sevenfold’s lead singer.