The Passion Economy

Emotion is the new currency

NFTs are an influential technology within what is known as the passion economy. The ethos of the passion economy can be described as individuals finding new ways to monetize their passions and skills. In the passion economy, freelancers and entrepreneurs scale their businesses exponentially and earn passive income.

The passion economy removes the shackles and precarity associated with freelance work and the gig economy, and provides platforms for users to produce content that can be consumed at all times. This makes the ‘time for money’ dynamic, which is an essential part of the gig economy, obsolete. The gig economy demands participants simultaneously work a job whilst scanning the horizon for their next one.

This uncertainty can cause massive emotional and financial stress. The passion economy, on the other hand, gives individuals the freedom to work when they want, from where they want. It provides people with passive income and allows people to pursue their passions and positively change the world around them. True to its name, the passion economy makes the world a more confident and passionate place.

The passion economy depends on fans who are passionate about their idols and influencers. They aspire to be like their idol, to use the same brands, to consume the same food and even have the same lifestyle. The ethos of the passion economy intersects with the fan focused ethos of NFTs. From a fan’s perspective, NFTs allow them not to feel like they are being exploited by their idols by being pressured into spending time and money without seeing anything in return. Instead, Zoop provides fans with an authentic product from their idol, and the opportunity to stake ownership.