Let's Discuss Whether NFTs Drive Publisher Revenue 'Rolling Stone' and others have done it, but is minting an NFT the most rewarding way to monetize editorial archives? The jury's still in.

By Anton Liaskovskyi

Opinions expressed by Entrepreneur contributors are their own.

While the digital-advertising business market was focusing on crucial M&A deals last year, all eyes were on the three key things when it comes to the supply side — first-party data, metaverse and NFTs.

Unlike the metaverse, which obviously implies exceptional benefits for gaming businesses and media-content creators, the minting of NFTs has already accumulated some significant revenue for publishers of editorial inventory. More importantly, their success stories are accelerating the global effort to achieve equally ambitious revenue targets and even surpass these goals.

Top-tier names take the lead

It was obvious from the very beginning that some of the most significant NFT earnings will be achieved by top-tier publishers like Rolling Stone or New York Times. The reasoning is clear: Their operational and financial resources, as well as their vast global reach, are simply sufficient to take a plunge.

Much focus has been given to cover artwork, while others kept things simpler by utilizing the editorial-content segment. But what auction results are telling us is that both strategies are effective, as long as there's enough media hype around the concept itself (e.g. the minting of an NFT) and the actual release.

Are we going to see more NFT auctions in this segment? Well, there definitely will be some, but it seems the overall interest toward the entire idea of it is already declining.

Mid-sized players want a piece of pie

Unlike large publishing houses or conglomerates eager to invest spare resources into trying out new marketing strategies, even for charity purposes, many of their mid-sized counterparts perceive NFTs as an incremental business-revenue source. And here's where things get tricky. As the saying goes, you have to spend money to make money, and in case of minting the NFTs, it just couldn't fit the case better. Aside from the design costs and the listing fees, one aspect that's less talked about is marketing. Unlike a world-famous newspaper or magazine, a regional news publisher won't get the required media attention to its NFT launch as simply, hence needing to spend extra money to promote it.

So, is there a working strategy for a mid-sized editorial business when it comes to minting their NFT? A possibly efficient tactic would imply a release of a collection (either of the media or the editorial content archives, for instance) instead of a single piece and its further sale for a relatively small price with the main focus on their loyal reader audience.

Is there room for small-sized local publishers in the NFT world?

As many of you might have guessed, not really. But the variety of newly-emerged revenue acquisition tactics available to them this year, including limited merch pre-sales or exclusive partnerships with local brands, is still encouraging. And of course, the key staples of success remain the same: creative thinking, careful planning and extensive testing.

Bottom line? NFTs are one more way for legacy media in particular to leverage their archives and ensure their brands remain timeless. It's worth any publisher at any level looking into.

Wavy Line
Anton Liaskovskyi

Entrepreneur Leadership Network Contributor

CEO of AdPlayer.Pro

Anton Liaskovskyi is the CEO of AdPlayer.Pro, a global provider of advanced outstream video-advertising solutions. He has over ten years of professional experience in the development of PaaS and SaaS solutions and is a real tech enthusiast.

Editor's Pick

A Leader's Most Powerful Tool Is Executive Capital. Here's What It Is — and How to Earn It.
One Man's Casual Side Hustle Became an International Phenomenon — And It's on Track to See $15 Million in Revenue This Year
3 Reasons to Keep Posting on LinkedIn, Even If Nobody Is Engaging With You
Why a Strong Chief Financial Officer Is Crucial for Your Franchise — and What to Look for When Hiring One

Related Topics

Business News

7 of the 10 Most Expensive Cities to Live in the U.S. Are in One State

A new report by U.S. News found that San Diego is the most expensive city to live in for 2023-2024, followed by Los Angeles. New York City didn't even rank in the top 10.

Business News

More Americans Are Retiring Abroad, Without a Massive Nest Egg — Here's How They Made the Leap

About 450,000 people received their social security benefits outside the U.S. at the end of 2021, up from 307,000 in 2008, according to the Social Security Administration.

Business News

Lululemon Employees Say They Were Fired for Trying to Stop Shoplifters

Two Georgia women say Lululemon fired them without severance for trying to get thieves out of the store.

Business News

Woman Ties the Knot at White Castle Almost 30 Years After the Chain Gave Her Free Food as a Homeless Teen

Jamie West was just 12 years old when she ran away from the foster care system.

Business News

New York Lawyer Uses ChatGPT to Create Legal Brief, Cites 6 'Bogus' Cases: 'The Court Is Presented With an Unprecedented Circumstance'

The lawyer, who has 30 years of experience, said it was the first time he used the tool for "research" and was "unaware of the possibility that its content could be false."