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NTWRK is taking NFTs into the livestream shopping model

NTWRK is taking NFTs into the livestream shopping model

FromThe Digiday Podcast


NTWRK is taking NFTs into the livestream shopping model

FromThe Digiday Podcast

ratings:
Length:
50 minutes
Released:
Jun 1, 2021
Format:
Podcast episode

Description

The livestream shopping model is coming back around in the U.S. and is not limiting itself to the traditional television channels and "call-now" directives that QVC and HSN have done in past decades.
NTWRK, a livestream shopping company aimed primarily at Gen Z and millennial audiences, launched in late 2018 and has accumulated 2 million consumers since then on its iOS and Android apps, which are currently the only platforms that shoppers can transact on. By 2025, the goal is to increase that number to 50 million, as well as make more than $1 billion in revenue, said Aaron Levant, CEO of NTWRK, on the latest episode of the Digiday Podcast.
The livestream shopping platform sells physical products like art, sneakers, and limited edition products that are created in collaboration with hand-selected artists vetted by NTWRK's merchandising team. But after seeing a surge of interest around NFTs and learning the reasons behind why people pay for digital ownership of online products, Levant said his team realized that physical collectors and digital collectors overlap quite nicely within the NTWRK consumer base. As a result, this month NTWRK we'll be launching an NFT extension on its platform to further tap into these new shopping behaviors.
Released:
Jun 1, 2021
Format:
Podcast episode

Titles in the series (100)

The Digiday Podcast is a weekly show where we discuss the big stories and issues that matter to brands, agencies and publishers as they transition to the digital age.