Blockchain is redefining what it means to be a fan

Following the release of Beyoncé’s 2016 audiovisual album Lemonade, fans of the singer went into a frenzy. While many were left in awe of the artist’s project, others felt sympathy for the superstar, who throughout the album chronicled her husband Jay-Z’s infidelity.

Cheating partners aren’t unique to stardom, but a specific subset of Beyoncé’s core fans, often referred to as the “Beyhive,” launched themselves in search of Jay-Z’s alleged lover. Eventually, the Beyhive zeroed in on the rapper’s former business partner, Rachel Roy, launching a deluge of social media insults and threats against her and her daughter.

This was clearly a case of fandom gone wrong.

But digital identity is evolving, and with it the fandom itself. Web3 technology enables fans to interact with each other, the media, content creators and even the celebrities they love – all in a more interpersonal way. By envisioning fandom as a two-way street, both fans and creators could enjoy more humanizing experiences. In addition to these, there can also be incentives that fundamentally change the way we think about the concept of celebrity itself.

Fandom has evolved over the past century

A fandom is best defined as a group of individuals who have feelings of empathy and camaraderie for each other because they share a common interest. Today, many fandoms are full-fledged subcultures, with their own way of speaking, dressing and behaving.

But it wasn’t always like that.

At one time, fans could only meet in person or online in chat rooms, but social media provided new channels for people to communicate, and provided new ways to empathize and relate to each other. This in turn even gave rise to superfans. And these devoted lovers of their own unique interests found that they no longer needed to operate in silos.

Throughout the 2010s, fans gained the power to share their fandom on social media for all to see, and even have the opportunity to follow the daily lives of their peers and idols. From Justin Bieber’s “Beliebers”, to the “Weebs” and “Otakus” of anime fandom, and even followers of Fifty Shades of Grey movie and book franchises, fandoms went mainstream thanks to platforms like Facebook, Tumblr, Instagram and Twitter.

The power that social media gives us to quickly and effectively communicate with people all over the world has now been further distilled. And after nearly two decades of stagnation, the concept of fandom is getting a major facelift in Web3.

As artist Dave Krugman stated in a previous interview with nft now, similar to how social media opened up new channels for fans to communicate, blockchain has made it possible to create a close bond between fans and creators. “In an age of interconnected creative societies, the name of the game is incentive alignment. If the things that benefit the public also benefit me, we are able to create a social symbiosis,” Krugman said.

How have fandoms changed in Web3?

In Web3, fandoms manifest using NFTs. While the jury is still out on whether games and other forms of entertainment can produce the same community-building results as digital collectibles, the NFT space has become a hotbed for art and technology fandoms.

Many people think Bored Apes are only cool because they can make you rich. But the reality is that this is not really the case. While there is much to be said for the earning potential of NFTs bringing consumers into the space, it society the aspect of the non-fungible ecosystem has continued to give greater meaning to the blockchain-based microcosm.

Regardless of wins and losses, Web3 users choose to engage with each other via Twitter and Discord, not just to exchange trading tips, but to make friends, share culture, anchor their common interests, and feel a sense of belonging. This is precisely why Bored Apes and other member-based NFT projects have gained such prominence.

Of course, while BAYC certainly sets the highest example of the possibilities of community building in Web3, it is only a fandom raised through the use of generative avatars (PFP) NFTs. There are countless other project and collection-centric fandoms that have come about through NFTs.

For fans of music, whimsical and bright, colorful characters, there is the Doodles fandom. For those who choose to spend their time on fantasy-based content and playing Dungeons & Dragons, there’s Forgotten Runes Wizards Cult. Even for those who anchor their love of culture in the real world via streetwear, sneakers and fashion, RTFKT provides a home. But to really get into the tough Web3 fandom, we need look no further than the music NFT sector.

The importance of a two-way connection

Given the tight-knit nature of musicians and their fans, it’s perhaps no surprise that Web3 has helped many music artists start a community. Even in Web2, SoundCloud, blogs, and Twitter provided a way for artists and listeners to engage with each other, creating a rudimentary two-way street of communication.

But in Web3, these conventional communication channels have expanded significantly. It is crucial that this change is reflected in the evolving roles of creators and consumers. Now musicians are encouraged to do more than just drop music and wait for feedback from fans. On the blockchain, they can extract real value from their fans by selling ownership of their music and reap the benefits with the community.

Web3 music fandoms work in two parts. First, fans can show their support for their favorite artists by purchasing their music in the form of NFTs. Doing so means fans can put a monetary value on the love and support they would otherwise send out to artists by listening to their music on streaming, buying merchandise, attending shows and posting about it on social media.

Second, artists can bypass bureaucracy and antiquated systems in the legacy music industry via blockchain technology while maintaining ownership of their music and sharing ownership with fans who purchase their NFTs. This can happen on a small scale from a digitally native Web3 newcomer, or on a large scale from established acts such as Avenged Sevenfold (see video below).

Either way, in a Web3 fandom, fans can pay artists directly for shared ownership of their music, effectively betting on their growth and popularity, rather than just sending track links to their friends in hopes of turning them into fans . On the other hand, fans can also buy music NFTs as collectibles, just like you can a CD or a poster for your wall. Or they could do it just to support artists out of the goodness of their hearts.

Again in Krugman’s words: NFTs can create an economic bond between creator and collector that aligns their priorities. “When someone owns a digital asset that I have created, the value of that asset is tied to my own creative success. Thus, our incentives are aligned at a deep level – we share a common goal, and that creates a healthier connection between the community and the creator,” he said.

This model, as described by Krugman, is palpable within the large fandom surrounding Web3 music and music NFTs. Within this general subculture are individual fandoms centered around NFT music platforms and Web3 music artists. Unlike the aforementioned traditional fandoms of Web2, there is a give-and-take present in Web3 communities. There is no “BTS Army”, because instead of a central group that moves as one, everyone in a Web3 fandom has a voice and gets to maintain their individuality.

In the new media environment of Web3 fandom, devotees can do more than simply gossip and update each other about how well and what’s next for an artist—in the often-vain hope of someday getting one-on-one interaction or mention in social media from their idols. Instead, they have the opportunity to engage directly with their favorite artist as a member of a community on a more equal footing – as a co-owner of an artist’s IP.

Consider this updated model of fandom in the context of the Beyoncé anecdote. What if the Beyhive was a Web3 community? A community with direct access to Queen B herself may never have signed up for such vindictive measures.

Sometimes fans and fandoms act contrary to the beliefs of the artists they idolize. But maybe all they need is a reality check from these idols themselves. With Web3, this accessibility is not only possible, but encouraged. And thanks to Web3, fandoms have a chance to undergo a new evolution.