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In another sign that the NFT hype train has slowed to a crawl, Meta has today announced that it’s ending its NFT display projects, across both Facebook and Instagram, as it re-aligns its resources around evolving priorities.

Meta is looking to launch its own, Twitter-like social app, which will be focused on short, text-based updates. This comes in the wake of many user disappointments since Musk’s takeover of the app in October 2022.

Most interestingly, the app, currently entitled ‘P92’, would be decentralised, aligning with the new wave social media push. The project will reportedly incorporate support for decentralised social networking protocol ActivityPub, which would be Meta’s first step into the decentralised social media space. Which is a big step – Meta, in large part, is the reason why there’s been such a big push towards decentralisation, due to the way that it’s gathered and controlled user data and experiences. 👉 Continue reading

In a move that has surprised many, TikTok has announced that it is preparing to enter the search ads market, with the aim of taking on tech giant Google. The news has been met with interest from advertisers and marketers alike, who are now eager to know more about this new development and what it means for their business.

TikTok has been beta-testing search ads on an invite-only basis since last March. But three advertising agency sources said their TikTok reps have been pitching the product more aggressively in recent weeks.

"Gen Z is using TikTok for search at a similar rate as they use Google," Shamsul Chowdury evp of paid social at the ad agency Jellyfish said. "If TikTok can capitalize on that usage for advertisers, it could mean a huge revenue boost."

That boost would come from TikTok tapping a market valued at $112 billion this year, according to Insider Intelligence, Insider's sister company.

For advertisers, this new development presents an exciting opportunity to reach a highly engaged and rapidly growing audience. The move into the search ads market will allow businesses to create highly targeted campaigns, and potentially drive more traffic and sales to their websites.

However, this move also raises questions about how TikTok will handle user data, and whether the company will be able to maintain user trust in the wake of recent data privacy concerns. As such, advertisers will need to tread carefully when it comes to targeting users on the platform, and ensure that they are adhering to best practices when it comes to data privacy.

Affiliate marketing is a proven opportunity for brands to drive sales with minimal investment. According to Julia Casella, who oversees global communications for Hourglass Cosmetics ‘the real value of affiliate marketing is that it’s just a way to supercharge your influencer marketing’.

Affiliate marketing saw major growth during the height of the pandemic, just as e-commerce did, in general. More than 50% of affiliate marketing programs increased their revenue during the lockdown. In fact, as of February, the global affiliate marketing industry is worth over $17 billion and is a top revenue source for 31% of publishers. 👉 Continue reading

Arguably the social media star of the makeup world, E.l.f. Cosmetics has just launched a music-oriented campaign. The effort includes a partnership with beauty creator Meredith Duxbury, who will host a shoppable livestream via her TikTok channel. The Gen Z beauty retailer also created its second original song, “Lip Positions,” to support the rollout, and is encouraging TikTok users to post using the sound. 👉 Continue reading