April 19, 2022
2
 min read

Using NFTs for Podcasting

With room for creativity, podcasts aren’t just limited to being entertaining content to listen to. Like any digital asset, podcasts can even be turned into NFT.

Written by Guest Blogger: Luciana Villarroel

Podcasting is rapidly becoming one of the most popular forms of consumed media in our current age. In 2021, it was reported that in the United States alone, there were over 120 million podcast listeners. It’s predicted that this number will only continue to grow. A podcast is a form of media content designed as a collection of digital audio files. Think of it as the modernization of the radio. Each individual audio is called an episode and can be downloaded or listened to online. 

 Whether it be news, sports, celebrities, finance, or lifestyle, there is an endless list of subjects in today’s most popular podcasts that ensures anyone can find something entertaining. Successful podcasts come from both recognizable companies and small creators alike. 

One of the top podcasts is “The Daily”. Hosted by the New York Times, journalists discuss the world's biggest events in episodes. A company such as the New York Times has managed to update traditional means of journalism and turn them into a format perfect for our on-the-go lifestyles. On the opposite end of the spectrum, individual creators can use podcasts as an alternate way to connect with fans. This kind of podcast is more intimate, with discussions every episode. An example would be the Whale Tales Podcast, a focused podcast from Whales Tales Org bringing you stories and more about whales, dolphins and porpoises. While just two examples, there are thousands of other popular podcasts you could listen to. Chances are if you like something, there's probably a podcast episode about it, and if there isn’t, you can always make your own!

With so much room for creativity, podcasts aren’t just limited to being entertaining content to listen to. Like any digital asset, podcasts can even be turned into NFTs. While visual NFTs are often most talked about, audio NFTs could be the medium of the future. They would offer an experience for the listener. Podcast hosts could allow fans to bid on a chance to own their favourite podcast episode. By offering non-fungible podcasts, hosts can strengthen their relationship with listeners and promote a greater sense of community. 

Award Pool CEO, Reuven Cohen has managed to successfully implement this concept for his podcast. Fungibility is a podcast about NFTs that is delivered as an NFT. Fungibility features people in the crypto, NFT, and Web3 industry. It has quickly become a successful podcast, bringing in 300,000+ listeners. What better way to connect listeners than to offer great prizes and giveaways as offered through challenges?. 

Fungibility has a set of challenges in correspondence with every episode, when these tasks are completed, a person is awarded points. These challenges range from sharing the episode with a friend to following the episode’s guest on social media. These points can then be redeemed to purchase your favourite episode of the podcast. 

Fungibility takes the concept of podcast NFTs and innovates to create a new idea that engages listeners with the podcast and its guests, and rewards them for taking part. The created sense of engagement and rewards between Fungibility listeners establishes a loyal community that ensures they will come back week after week. 

Now that you have a better understanding of what podcasts are, and how they can be used as NFTs, you can evaluate how to participate in these upcoming trends. Using NFTs as podcasts is a creative way for creators to engage their listeners, and for listeners to be rewarded. This idea has endless possibilities and benefits for everyone involved in the art of podcasting.

As CMO, Brenda wants to offer the platform to everyone, everywhere, to engage fans and grow their business.

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