Tech

NFTs and Creator Economy are Blooming in Soul Metaverse

NFTs, non-fungible tokens are currently a hot topic. Technically speaking, they are unique immutable cryptographic tokens listed on a blockchain. Simply said, NFTs are the evolution of digital ownership in a world that is primarily online and technologically dependent. 2022 witnesses the rise of the NFT economy, which has already affected the art and digital gaming worlds deeply. Many professionals believe that assigning ownership for virtual products in the metaverse will be the next significant breakthrough of the NFT. Indeed, on Soul metaverse a social metaverse brought by Soul App, NFTs and creator economy are already blooming.

Soul App is an online social networking product launched in 2016. Featured with interest-based socialization, Soul App provides an online playground for users to establish social connections. Some users regard it as a stress-free space where they can express whatever they want. The industry insiders believe it is a virtual but authentic wonderland for Generation Z. For Soul App itself, it aims to build a social metaverse for young generations.

According to public information, the number of Soul App’s monthly active users (MAUs) increased by 51% from the previous year to 31.6 million in 2021. User stickiness is also high at the same time. As of 2021, 59 percent of all Soul App users are very active.

User engagement is a crucial indicator of a vibrant community. High levels of interaction encourage users to post more, creating a beneficial cycle of content creation and consumption that, in the end, greatly enhances the platform’s UGC ecology. Over 790 million pieces of fresh material were created by Soul App users in 2021, of which 35.9% were from MAUs. The prosperity of UGC is a basis of the rapid development of social metaverse created by Soul App.

One of Soul App’s most impressive features is its avatar. Every user can craft their own avatar, which brings brand new virtual identities to surf on the Soul metaverse. A new profession, the avatar designer, rises up as a result. According to the latest data, over 80 official creators have created 23,000 avatars on Soul App. It provides a platform for content creators to turn their passion and hobby into realizable income, fostering the burgeoning creator economy.

The creator economy is beneficial to individual creators. At the same time, the NFT can be a realistic approach for companies with high IP value to realize their commercial value, and Soul App is an excellent platform for trading in virtual goods while being protected by cutting-edge technology.

The first NFT collection of Game for Peace Zodiac cards was previously released thanks to a partnership between Soul App and Game for Peace, a well-known mobile game akin to PUBG. A total of 30 million cards were received during the campaign, and more than 600 million people were exposed to the campaign as a whole. Millions of users were attracted by this promotion to play Game for Peace.

Actually, Soul App mainly generates income via virtual props, membership fees, and other value-added services. Additionally, Soul App is trying to diversify its commercial offerings.

For instance, Soul App unveiled a cutting-edge crossover partnership with Chevrolet, a well-known automaker. By utilizing Soul App’s cutting-edge 3D avatar technologies, Chevrolet debuts its first 3D avatar and embarks on its social metaverse journey.

In an industry insider’s opinion, Soul App has a promising future in commercial values. Brands may interact directly with their target consumers in the social metaverse created by Soul App, which gives birth to additional opportunities for marketing. To encourage users to create pertinent content, brands, for instance, have the right to create user communities and create topics like brand theme day or week. In this way, brands are able to increase brand recognition among activity participants swiftly. Active user interaction, meanwhile, enables marketers to increase their brand’s influence and draw in more potential customers.

Currently, Soul App has steamrolled the Chinese online social networking market with its avatar-centric, interest-based, and AI-powered features. It’s more than just a chat app, especially since Soul’s more than 100 million users are fostering the development of a cosy ecosphere known as the Soul Metaverse. Except for NFTs and creator economy, there will definitely be more commercial opportunities.

Mobeen Ahmed

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