Streaming is an experience like no other. Streamers create live content with an engaged audience who cheers when they succeed and laughs at their pain when they fail in-game. This creates bonds and friendships that last years. Some streamers have the privilege of turning their craft into a full-time income. For every person who gets this far though, there are dozens of others who are struggling to even meet the platform requirements for monetization. Since the pandemic began, streaming has become a very sought-after method of income. The drawbacks to the dream include the possibility that, even after making sacrifices and bringing your A-game every month, you won't make enough to replace your day job.
How Gamers Can Monetize with NFT Technology
What if I told you there was a way for streamers to take greater control of their journey and prevent that dreaded streamer burnout? Meet NFTs. No, not the trippy digital art people spend millions on.
Meet Gaming NFTs:
There are whole ecosystems that allow players and content creators to create, trade, and compete for items with an actual value.
Let’s take a moment to determine why streamers experience burnout. In any high-stress environment, humans have a certain capacity they can handle if the pros outweigh the cons. If you add high stress with a variable income that fluctuates wildly per month and is not guaranteed, you're going to have a high burnout rate.
The main way streamers monetize is through subscribers or paid memberships from their fans. Typically fans pay $5 a month and streamers earn $2.50. For most real estate markets, the average 1 bedroom/1 bath is over $1000 a month. That means a streamer on Twitch would need to have at least 400 subscribers a month to pay for the roof over their head. This also does not include the food bill, internet, supplies for their kids and a multitude of luxuries like soft toilet paper. For streamers to get more subs, they need more people knowing who they are, while also trying to maintain the subscribers they currently have.
NFTs can help bridge the gap between the nearly burnt-out streamer and their dreams of being a full-time content creator. These items are high discoverable and the NFT space is exploding. Now is the time to get in on the ground floor. As of this writing, these items are woefully underutilized by non-artists.
Imagine you make an NFT, and you give it away to your community. You're one of only a handful of people in the world that has this capability. It separates you from every other streamer who tries to encourage their audience to subscribe for emotes that are only usable on Twitch and Discord. This dovetails into the beautiful conversation of you giving value to your community—more value than people who don't use NFTs for streaming.
In the crowded sea of content creators, you can offer something your fans have never seen before. As you already know, a community is a living organism with its own inside jokes, traditions and special moments. Being able to take your mascot or your community's favorite joke and turn it into an NFTs they can collect and trade with each other adds a brand new layer of engagement that is hard to find anywhere else online in streaming. Sure, there can be Ninja skins running around in Fortnite, but if I can make my own NFT, then so can you!
Did I mention your NFTs can be used in video games? Or that you can play/stream these games and get loot drops that can pay for your groceries or even more?
Yes, these items can improve your income as a streamer. Enjin NFTs, for example, have transfer fees that pay to the creator of that item. This means that you can create a recurring, passive income. If you create an item your fans love and are crazy about collecting and trading, the item could end up changing hands like a game of hot potato. This sure beats trying to chase down subs every month if you ask me.
This is only scratching the surface of the possibilities with gaming NFTs! If you love these ideas and want to learn more, be sure to follow my socials for more info. I’ll be making more introductory NFT content and doing huge NFT giveaways, in addition to more articles for ONE37pm covering the emerging space.