The social product “Octi” entered the top position of the iOS download list in the United States.
Since the concept of Metaverse became popular, entrepreneurs who disliked the concept of speculation have linked their products to Metaverse. Recently, another social product “Octi” that claims to be “Put the Metaverse in your pocket” has entered the top position of the iOS download list in the United States.
Changes in the ranking of “Octi” in the US iOS download list since its official launch丨Data source: Sensor Tower
According to Sensor Tower’s data, “Octi” was launched on the App Store on October 15th, but the previous month should be a test period. It was officially launched on November 16th, and it reached the top of the United States on the first day of its official launch. iOS free download total list. In response, the official Twitter of “Octi” also tweeted to celebrate the summit of “Octi” and stated that 100,000 users used the app on the first day it was launched.
Today, when the “meta universe platform” is emerging in endlessly, there are many concepts of rubbing, but not many have reached the top of the free list, because those products that use NFT (that is, borrow people’s speculative psychology) to reach users are still in a relatively high level. The small scale does not reach the masses , so what is special about this App from the product, and how does this App reach the top on the first day of launch outside of the product?
“Octi” is a “TikTok” that combines AR and NFT?
According to information provided by Crunchbase, the company behind “Octi” is an AR technology development company. It received a pre-seed round of financing in October 2016, and the company was formally established in 2017. The recently launched “Octi” is a social platform based on the company’s AR technology.
The core of the “Octi” platform is actually short video content, and the short video function of “Octi” seems to be not much different from short video apps such as “TikTok” at first glance. It is also an immersive sliding up and down operation. And on the right side of the interface is the classic “Like, Comment, Forward” three buttons.
The difference is actually more obvious compared with Snapchat. An important factor that Snapcaht is popular with young users is that various fancy AR filters are free to use. “Octi” actually makes these AR filters into NFT. Then the second tab at the bottom of the App is, “Octi” made an NFT store, and then put those NFTs here for users to choose to buy , including 9 categories such as Makeup, Shoes, Masks, etc. After purchase, users can use these NFTs, In fact, AR filters create their own short videos. Other users who watch short videos can also check which virtual goods are used in the video, and can purchase them directly on the video page.
With the help of AR, a technology that can realize the interaction between virtual and reality, creators on “Octi” can also use the products in the filter to develop various creative content. For example, in the video below, the creator separately showed the accessories she would wear on different occasions. Each accessory is a virtual product on the platform.
In fact, you can see that the video created by the user is no different from the one in Snapchat, except that the user has purchased this limited filter
The first point of “Octi” being smarter is that at this stage, all NFTs are not purchased with money, but the virtual currency Octi Coins on the platform is introduced, and there is no open recharge, using a method similar to “Internet earning” way for users to earn virtual goods currency to purchase NFT. Because at this stage, people spend money to buy NFTs or want to anchor something valuable, and the value of AR filters in “Octi” at this stage is obviously not certain. But furthermore, let everyone get the NFT without spending money, and the enthusiasm will come up.
“Octi” gold coin rules
According to the information on the platform, users mainly rely on creating videos and inviting friends to earn gold coins. It can be seen that they are still in the stage of promoting new activities. In addition, like many online earning platforms, “Octi” also has a limited-time theme challenge game. Players who participate in the game with a high ranking can earn corresponding gold coins.
Each item is limited. For example, there are only 30 models of Adidas sneakers in the picture below.
In fact, when you see this, you will find that the virtual products on “Octi” are all backed by major brands and restore physical products. Although I don’t know how “Octi” has been authorized by so many brands, or whether “Octi” has been monetized through cooperation with various brands, it is obvious that users cannot determine the value of content accumulation during the platform’s launch period and users in the short term. The company has thought about the business model under this and realized it through product design.
In fact, this kind of brand promotion cases relying on AR and avatars is not new. The article “Advertising doesn’t work well, brands all go to Roblox to play games” released by Beluga a while ago is introduced. How does Vans use the virtual image on Roblox for brand marketing, and there are many brands doing this, and the brand itself has acceptance for this type of marketing or cooperation.
In addition, “Octi” is not satisfied with the virtual world, or not satisfied with marketing, but also brought goods. The platform cooperates with several major brands (AJ, Funko, etc.). Users can not only use coins to buy virtual goods of these brands on the platform, but they can also jump directly to the official websites of these brands to purchase physical goods, and on the “Octi” platform Coins earned within can play a discount role when purchasing physical goods.
This model has also won praise from users. A user commented on the App Store that “he bought a pair of Nike sneakers for only $15”.
Source: Sensor Tower
“Octi” no advertising, is also not have charge and the value of options, in cooperation with the brand side is likely to be the only source of income “Octi” of. However, according to the author’s personal prediction, when there are more and more active users on the platform, “Octi” is likely to introduce a method of recharging and monetization.
At present, the meta-universe is only at the conceptual stage. If there is any relationship between “Octi” and the meta-universe, that is, some elements that the meta-universe may need, such as NFT and AR technology. Overall, “Octi” is a short video content with the AR filter mirror play method and NFT combination of platform, and in the case of overseas brand recognition of such party as a whole marketing model to brand marketing, and other areas further with a cargo Expansion, in turn, NFT investment and physical product purchase discounts can also attract C-end users. However, being able to reach the top of the US iOS list on the first day of launch has a lot to do with the preparation of “Octi” in the cold start phase.
The cold start of “Octi” captured two social platforms
The growth of “Octi” should be related to the volume of purchases on the one hand. According to the vast data, “Octi” has put a total of 2032 creatives on various platforms, most of which have been put in the past 30 days (including videos on “TikTok”).
On the other hand, “Octi” also captured “TikTok” and “Discord”, two social platforms that are very popular among young people, during the cold start phase.
“Octi”‘s “TikTok” account @octiapp released the first video on July 17 this year. Earlier we reported that Honk and other new social products for the Z generation will use “TikTok” to showcase their product features. However, the difference of “Octi” is that they added short videos of the daily life of the entire team to their “TikTok” videos. For example, the first video they released was an introduction to team members and adopted very humorous forms; this summer also brushed against overseas “fruit roll challenge” of heat released a team game eat fruit roll video.
In the videos that promote product features, “Octi” also uses the characteristics of the App itself to create many interesting ideas. For example, in a video, the creator played basketball with a virtual Funko’s Jordan on the basketball court.
According to the author’s observation, the short video under the official account of “Octi” has the highest viewing volume of more than 100,000. In addition, before the beta version went live, “Octi” was actually looking for a big V on “TikTok” to release a video to introduce its products. For example, on September 2 this year, gamespicy, a blogger with more than 100,000 fans on “TikTok”, released a video introducing the “Octi” product. At the upper left of this video, there is a big AD word, which can be guessed. , This is also one of the cold start strategies of “Octi” before it goes live.
Another magic weapon for the cold start of “Octi” is Discord. During the test period, “Octi” formed a Discord channel called “Octi App”. By joining this channel at that time, you can be eligible to use “Octi” during the test period. From the excellent results on the first day of the official launch, it can be seen that the Discord channel has brought many users during the “Octi” test period.
And now this channel has also become a channel for Discord to further promote stickiness with users, and can even be regarded as a “private domain traffic pool” of “Octi”. There are currently 557 users in the Discord channel of “Octi”. In the channel, “Octi” often initiates topics or challenges to interact with users. Users who win the challenge can get “Octi” coins.
In the channel, users not only discuss “Octi”, they can also discuss many cultural-related topics, such as animation, games, movies, etc.
Finally, it is a personal opinion of the author, which has also caught up with the major Internet hotspots of “Meta Universe”, “NFT” and “AR”, making it easier for “Octi” to obtain exposure opportunities. For example, the title of a report published by Business Insider on the second day after the launch is “Octi, which integrates NFT, Meta universe, and digital currency at the same time, may become a new rival to ins, “TikTok” and snapchat”.
Whether it is ranking results, user feedback or media reports, “Octi” is currently recognized. So will this excellent performance last?
Will “Octi” be a sustainable business?
In fact, the most fundamental change of “Octi”, as mentioned above, is to make the AR filter into NFT, and formulate a rule, all content needs the participation of AR filter, which forms a different from the previous Ecology.
The essential needs of people using short video platforms are two, one is relaxation and entertainment, and what they consume is interesting content; the other is to obtain information. It is still unknown whether the addition of AR filters will limit the types of content creation by users, which will affect the long-term operation of “Octi” as a short video platform.
The addition of NFT will give rise to a new demand for users to use this type of platform, that is, “value-added demand”. For example, whether the NFT purchased in the early stage will have room for promotion, and whether the NFT created by me can be sold at a price , this depends on the team. Have in-depth thinking about the business model, that is, how to make NFT valuable. This depends on the operation of the follow-up team. But no matter what, now you don’t need to pay for NFT to enter the platform, and you can also get discounts on physical goods, which is enough to attract users to stay on the platform for a period of time. So online + offline is a good move, pure Virtualization is definitely not the end.
Caption: “Octi” also launched a function called “Add Your NFTs” on the official website. Under this function, users can enter the link of the NFT they want to add, and the creators on the platform can use the user upload in the video image of
As for the platform and the team itself, in fact, the business model that can be seen temporarily for this type of product is advertising monetization, and whether it can reach an exclusive NFT cooperation on certain products and brands to generate investment value, which mainly depends on whether it can be eaten. In terms of the dividends of the future brand marketing transformation, these two issues are too complicated to discuss in this article. To put it bluntly, the discussion is not clear.
In any case, “Octi” solved the two major problems of early content accumulation (UGC creative enthusiasm) and possible business models through changes to the rules. And its cold start methods, including selecting social platforms that are more suitable for the target audience, including showing sincere relationship with users through team display, and establishing private domain traffic, etc., are all worth learning from, and we will also follow-up. Continue to pay attention to the further development of this product.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/on-this-metaverse-social-platform-which-has-reached-the-top-of-the-us-list-some-users-can-buy-real-nike-for-15/ Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.