The wellness services industry is at the dawn of a new era.
For over a decade, Wellness Creators (Health Coaches, Life Coaches, Fitness Trainers etc.) have brought tons of traffic to platforms with their wellness content and healthy living tips, but have received little of the upside. There are 64 million monthly searches for wellness related content. Wellness content represents 20% of content across all traditional platforms.
And for good reason, 80% of chronic disease is caused by lifestyle choices: Diet, exercise, and managing stress. Wellness Creators provide the information and accountability proven to help people live healthier lives. A 2015 study found that you have a 10% chance of reaching a goal on your own, compared to a 95% chance of reaching it if you meet with an accountability partner or group consistently.
Despite the value Wellness Creators provide, they lose a lot of that value to traditional social platforms. On most traditional platforms, it takes at least 6,000 to 25,000 video views to make $100.
This is not sustainable. Solutions have been popping up in recent years.
In 2021, a new possibility for Wellness Creators emerged with web3 becoming more mainstream. Web3 is a term that describes many new technologies (NFTs, Social or Community tokens, and DAOs are the most popular), that allow creators and their community members to create and share value together.
Many are calling web3 the internet renaissance. And while web3 has grown exponentially in the gaming, visual art, and music industries, Wellness Creators, have not yet experienced the full potential of this new technology and opportunity.
For Web3 to become more embraced by the mainstream, and truly disrupt the Wellness Creator industry - and positively impact public health - web3 educators need to help more Wellness Creators understand what's possible for them and their community members.
Below I’ll explore three main ways Wellness Creators can leverage the power of web3 to better engage with and monetize their audience
Ready? Let's dive in🔥
1. Leveraging the utility of NFTs to better engage with your existing audience
TLDR: NFTs offer a way for highly engaged community members to express their loyalty to their favorite Wellness Creators, and receive the benefits of being in their closest community.
The easiest way for Wellness Creators to participate in the web3 revolution is to create an NFT.
Non-fungible tokens (NFTs) provide a way for highly-engaged community members to access premium experiences with the Wellness Creators they love. NFTS are like passes that give people access to exclusive retreats, containers, masterminds, and more. They come with scarcity, and belonging within a community.
For Wellness Creators, NFTs represent an easy way to sell access to things like meditations, containers, and masterclasses. The value of the NFT is often the utility, and access it provides. Wellness Creators can also use NFTs to crowdfund future projects - like a course, or a book, or a training - through their community. On Blawesome, we make it easier for Wellness Creators to crowdfund, create, and sell their offerings all in one place. For ideas on how you can use NFTs in your Wellness Creator practice, read more here.
By buying an NFT, the mostly highly-engaged community members can access an exclusive community (e.g: closed group chat, or container on Blawesome), and be part of a community of members who have shared values, and truly have skin in the game, as opposed to passive members.
NFT holders are incentivized to share the NFT (often as their profile picture or a badge on Blawesome) and as they do, they help the Wellness Creator become more known over the long-term. The more the Wellness Creator grows in authority and respect, the more valuable the NFT becomes.
In short, NFTs are a great tool for Wellness Creators to incentivize their communities, make their communities feel closer to them, and allow their community members to speculate on the value of the community as it grows.
NFTs also offer a digital way for a community member to showcase their appreciation and affiliation with their favorite Wellness Creator. Often the NFT also gives the engaged community member an intimate connection with their favorite Wellness Creator.
NFTs are a great solution for Wellness Creators with an existing community of at least 100 people, to better monetize and give more value to their most engaged members.
In short, there are many upsides for a Wellness Creator who is willing to learn the new skillset of creating an NFT project.
- Wellness Creators don’t need a huge audience to benefit from creating an NFT community. Just 100 engaged community members is enough to start a viral community.
- NFTs in Wellness Communities are a great way for members to connect with the Wellness Creator, and it also acts as a motivator for community members to reach their health goals, and make friends with people who share values.
- It's easy to retain people’s attention with NFTs when they are highly invested in their health and wellbeing
2. Leveraging Social Tokens to develop a community
Great! You’ve sold your first NFT. Your community is super engaged. What’s next?
TLDR; Social Tokens are an excellent tool for Wellness Creators to incentivize their community members to reach their goals, and tell their friends.
Social Tokens are virtual currencies that live on a blockchain. They are usually earned by engaged community members for accomplishing goals, or achieving milestones. In the case of a wellness creator, goals and results are usually related to a community member’s wellbeing and personal development.
Social Tokens can be redeemed in exchange for special perks within the Wellness Creator’s community, such as access to premium content, experiences, or the right to vote on future community decisions.
NFTs are a one-off purchase that don't require additional work from community members, social tokens are earned over time by being active in personal goals, and in the community. NFTs could be compared to investing in a Wellness Creator, whereas Social Tokens are more like being paid as a freelancer and completing a project alongside the Wellness Creator.
With a Social Token, Wellness Creators can, for example, ask their community members to make infographics of their masterclasses, take notes on group coaching sessions, make music for their meditations or podcasts, and more. Community member token holders are incentivized to make the Wellness Creator succeed as the value of their Tokens would be directly correlated to the Wellness Creator’s success.
That's the strength of Social Tokens. As the Wellness Creator grows in authority and influence, Social Tokens are an excellent way to include and share value with engaged community members.
Previously, many Wellness Creators used affiliate links to grow their community, and reward their most engaged members. Social Tokens are like affiliate links mixed with stock ownership.
Social Tokens are a great way for Wellness Creators who are establishing their name in the community to engage their engaged community members and grow their community through well-designed incentives. Compared to NFTs, Social Tokens allow Wellness Creators to transfer value within and across the community.
Things for Wellness Creators to be mindful of:
- Social Tokens are relatively unknown. People are more likely to buy NFTs than Social Tokens.
- For the Tokens to have a financial value, Wellness Creators have to create a Liquidity Pool and put in money upfront.
- Solo Wellness creators will never use the full capabilities of the social tokens technology (ERC-20) which are particularly useful to coordinate a large group of people to work together towards a common goal.
3. Building a DAO to create projects with people who share a mission
TLDR: DAOs facilitate collaboration worldwide. They are a great way for creators and their communities to build communities ;0) Think Fitness Franchise.
DAOs are virtual places (online communities) where people can join forces and achieve real, sustainable, cultural change. A Wellness Creator (or group of Wellness Creators) can create a DAO to leverage web3 tools, create trust with community members, and collaborate in a decentralized way, with no hierarchy.
DAOs, which we could compare to a new form of school or training program, lets Wellness Creators and their community members work towards a joint project. DAOs make collaborations accountable and easy. DAOs are a great way for Wellness Creators to launch an entrepreneurial project with members, and leverage the power of a whole community to grow quickly.
Wellness DAOs will be one of the most important parts of web3 and the metaverse. Learning and education is currency. Especially when it impacts your health and wellbeing.
Blawesome is pioneering and helping pave the way for wellness creators, and especially the underserved market of female and non-binary wellness creators, to create Wellness DAOs.
In short, DAOs are a great way for Wellness Creators to collaborate with people from around the world with shared values, to create a safe, transparent, and inclusive project.
Some things to be mindful of when considering a DAO:
- Launching a sustainable DAO is like launching a business. It requires a lot of work, and the proper collaborators.
- A DAO is a long-term project. Wellness Creators shouldn't expect immediate financial returns when launching a DAO.
- Many Wellness Creators have been creating DOAs for years without knowing it. Blawesome helps you create the structure and gives you even more tools to run your DAOs sustainably. To learn more, add me on twitter and DM me: @jenkruidbos
The major Wellness web3 opportunities are long term. Despite what the mainstream media says, web3 is not cash grab. Creating an NFT, Tokenized Community or DAO requires mindful daily action. But by putting in some work and learning how to use these new tools, Wellness Creators will have the power to create and sustain a long-term and healthy community.
The Wellness Creators who take the time to learn the different tools in web3 will be able to lead the way for others, and help even more people experience the benefits of health and wellness coaching.
I dedicated my career to teaching wellness in schools, offices and hospitals, to people who were curious about learning about wellness. If you are Wellness Creator who is crypto curious, I would love to talk to you about the potential of bringing web3 to your business.
Add me on twitter: @jenkruidbos
email me: email@example.com