How are social media platforms leveraging NFTs?
In recent news, TikTok joins the NFT craze, half of Australians say companies are requesting too much of their personal information, and Instagram announces a new video feature to better support its creators.
TikTok For Business unveils #AdTok
TikTok for Business announced the launch of #AdTok, a world-first initiative aimed at demystifying TikTok for marketers in Australia and New Zealand. #AdTok will be a destination where marketers can find informative and educational videos centered around marketing tips, creative inspiration, and case studies. It aims to help businesses of all sizes learn more about how to successfully tap into the TikTok community.
TikTok is jumping on the NFT craze with its Top Moments series
TikTok will be entering the world of NFTs (Non-fungible Tokens) to recognise and reward its creators, and allow users to ‘own a moment on TikTok that broke the internet’. Partnering with the likes of Lil Nas X and Bella Poarch, the TikTok Top Moments series will be based on six ‘culturally significant’ videos and will be auctioned off in the coming months.
Instagram announces Instagram Video
Combining IGTV and feed videos to one format, the update is intended to make it easier to create and discover video content, and is a step toward its larger goal of making video a more central part of the Instagram experience. Eligible creators can still monetise their long-form content, while brands can reach audiences engaging with long-form video via the platform.
Half of Australians say companies are requesting too much personal information
New research by customer intelligence platform Toluna has revealed 85% of Australians are aware that companies like Facebook and Google are collecting and using their personal data, however the same number are concerned about the information that is collected. On the flip side, almost half of respondents are willing to share their entertainment choices or lifestyle information such as hobbies and interests with brands. Over a third are happy to share their demographic information.
Over half of Australians said businesses’ environmental sustainability claims are confusing
Research from strategic insights consultancy Nature has revealed more than 60% of Australians think ‘very highly’ of brands that are environmentally friendly. However, 55% said that businesses’ environmental sustainability claims are confusing.