The Scoop: 7.14.22

If you think you were having a bad week in digital/social, just remind yourself that you aren’t Doordash, working in Canada (or maybe you are, sorry about that eh!) or Twitter who is still "dealing with Musk". So, enjoy our TikTok filled updates from the past few weeks below, as we head into another heat wave! 🌞

Can In-App Integrations with Social And Digital Platforms Save NFTs?

NFTs caught the internet by storm last year when images of apes in trendy accessories became the marquee product of clout and success. And this past spring, Madonna took the craze to the next level creating her own NSFW series of NFTs – Mother of Creation🌳😲. However, as of late, NFTs don’t hold nearly the same grip as they once did. Bloomberg reported the price of NFTs dropped by over 20%, with the largest NFT provider (BAYC) seeing prices fall by 25%. This has been exacerbated by the collapse of crypto-currency prices, which are heavily tied to the performance of NFTs. Could Meta save the day with its announcement to integrate NFTs into Facebook and Instagram? Despite plans to collaborate with online creators and influencers to push the usage of NFTs both online and in the metaverse, many are still skeptical. But Meta isn’t the only one moving toward NFTs: Reddit announced the arrival of blockchain-backed collectible avatars, and Spotify began letting some artists use NFTs as their profile pictures in May.

Sources: Bloomberg, Fortune, TechCrunch, The Verge

Creators Push Back on Bogus Information on Tiktok

There will never be a shortage of stories investigating the dark side of social media and the negative impact platforms have on the exchange of truthful information. But today, we’re shining a light on the creators flooding to TikTok to help make the platform a more positive and informative place. 😊 Health care experts including scientists, doctors, academics and other professionals are combatting incorrect health information by “stitching” misinformative videos with their own commentary explaining facts pertinent to the video in question. A cosmetic chemist found an audience on TikTok by setting the record straight when users misinterpret the benefits of ingredients in their beauty review videos. Users are hungry for information (and evidence-based content!), and one misinformation crusader shared that he’s tagged in over 100 videos per day by his community asking that he expose falsities they come across as they scroll.

Sources: NPR, The New York Times

Instagram Imitates Tiktok Again and Vice Versa

Have you been experiencing black bars around content on your feed? If yes, you were fortunately/unfortunately selected as a beta tester for a new scrolling feature that Instagram is testing. Look familiar? That’s because the full screen layout and feed changes are almost identical to those on TikTok. To be fair, Instagram did announce that video would be a key focus this year, so it would be naive to think the platform wouldn’t continue to emulate its video-first competitor. But two can play at that game. Washington Post reporter Taylor Lorenz pointed out – on TikTok – that the platform’s new features, such as replacing the Discovery tab with a Friends tab, seem to be aimed at driving “social” engagement in addition to the traditional entertainment value of the platform. 🤯 User complaints are rolling in on both platforms’ changes, but it’s still too early to truly impact two of the top social platforms. So, what can we take away from this? Incorporate more video content into your digital strategy and always be prepared to revisit creative specs pending Instagram’s final feed. 😏

Sources: HITC, Taylor Lorenz, Social Media Today

Is Twitter Going Long-Form?

On the topic of imitation, did you ever think you’d see the day Twitter would start to imitate LinkedIn? In 2018, Twitter doubled the character count within a tweet from 140 to 280. At the time, this seemed like a huge deal (and what a game changer it was for those of us drafting “news release tweets”! 😉). Flash forward to today, and the platform has announced it is testing “Notes” – a version of long-form articles (à la LinkedIn Articles and Newsletters) that will give users up to 2,500 words. Notes would replace the need for lengthy Twitter threads and allow users to share more in-depth thoughts. The update will see a new “Write”’ tab where users can create and publish Notes that can be embedded with visual media. Notes is currently in testing for select profiles in the UK, Canada, Ghana and the U.S. (timing for global rollout TBC). Twitter said the update is a response to seeing users screenshot announcements and publish to the platform or share links to long-form content they had written elsewhere and then use Twitter for the conversation around their words. Despite this (and calls for a feature to replace long threads) it feels anti-Twitter to have long-form content on the platform. Will it go the same way as Fleets (RIP)? Or does it signal an end to screenshot-and-share style tweets?

Sources: TechCrunch, Twitter, Mashable

Is Tiktok the News Outlet We Never Knew We Needed?

A survey completed by the Reuters Institute revealed that, across 46 countries, fewer people are relying on news websites and apps. Instead, they are leveraging social media as their primary source of news. The survey also found that Facebook remains the top choice for news content (wait, what?!) but is losing ground to visual social networks such as TikTok and Instagram (will we sound like broken records if we plug the importance of video content again?). The report highlighted TikTok emerging “as a significant new player in the news ecosystem.” That is no surprise given that 20% of Gen Zers spend five+ hours daily on TikTok. As people continue to move to social media for news consumption, it’s likely that more brands will start to follow in the footsteps of @LisaRemillard and @WashingtonPost and leverage TikTok to inform and educate audiences on the latest news and updates.

Sources: Social Media Today, Reuters Institute

And In Other News…

TikTok as a mental health resource? Here’s what you need to know.

Contributing Writers and Editors: Nick Cardillo, Ricki Kahn, Jacob Laros, Lauren Fernández Meihls, Amanda Oberstein, Jennie Szink, Nia Roberts and Bre Thomlison

Real Chemistry’s The Scoop is brought to you by an editorial collective, featuring industry updates and insights from subject matter experts across social media, digital and influencer activation teams.

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