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Social Media App Clubhouse Is Venturing Into NFTs With New Content House


coinfomania.com 21 April 2021 14:09, UTC
Reading time: ~2 m

Fast-growing social media platform Clubhouse is jumping into the market for non-fungible tokens (NFTs). The company announced Wednesday that it has begun preparations towards the release of a new content house dedicated to NFTs.

Called BlockhouseCH, the platform will facilitate the creation, tokenization, and distribution of unique digital artwork and related content. It will connect artists, influencers, and other crypto and finance experts to contribute to the upcoming content house.

Per the announcement, BlockhouseCH will look to tokenize and market content created by its in-house team of creators, leveraging a marketplace like Rally to sell the items.  The platform will also produce content targeted towards their audience interested in finance-related topics such as cryptocurrencies, collectibles, personal finance, and angel investing.

Clubhouse launched in April last year and already boasts an estimated 10 million users, despite only being available on iOS devices and limiting usage to “invite-only.”

The social media platform will be hoping to use its strong network to capture a share of the burgeoning NFT market that has seen a record-breaking 2000% sales growth since the turn of the year.

ClubHouse Media President Chris Young noted their ambitions to turn the new BlockHouseCH project into “one of the world’s first crypto-centric content houses.”

Ignoring known narratives that NFTs are nothing more than replicable digital work, Chris Young compared NFT artwork to a museum painting that would usually attract many eyeballs, although the original painting may still be owned by one entity.

He continued, “the more popular the painting becomes, and the more prints of it are bought and imaged online, the more valuable the original painting becomes, with all of that value conferring singularly to the owner of the original painting. The same logic applies to the NFT market, where we have seen enormous growth over the past year.”

Meanwhile, Clubhouse’s involvement with NFTs makes it the latest high-profile company to tap into the market. Last month, Coinfomania reported that the New York Stock Exchange (NYSE) partnered with Crypto.com to launch new NFTs to commemorate the first true trade of companies that are listed on its platform.

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