NFTs Taking Over Profile Pictures and More | Bolt Trend Report

If you’re feeling the bite of winter, it’s time to warm up with our breakdown of the hottest trending topics. Grab a hot cup of coffee or tea, and scroll with us through Peloton’s big announcement, Instagram’s commitment to a safer space and more. It’s time to stay in-the-know and out of the cold. 

 

Upcoming Holidays & Observances

  • National Fun at Work Day – Jan. 28
  • National Hot Chocolate Day – Jan. 31
  • National Mentoring Month – January

 

Must-Know Trends:


  • Peloton Pauses Production

 

Peloton sales surged 172% during the pandemic. The at-home fitness company quickly became a household name as one of the ways people were staying active during a time of quarantine. Fast forward to this month, and the headlines are sharing a different story. Rather than having enough supply to meet the high demand, Peloton is now facing a supply surplus with waning demand. The company announced that it’s halting production of fitness products due to fading consumer interest. Could this be related to the fact that gym doors are reopening, or what about the ‘Sex and the City’ reboot storyline that went viral with the Peloton at centerstage? Whatever the underlying cause, the company is controlling costs. According to internal documents obtained by CNBC, the pause will occur from February to March with a longer interruption in producing its high-end Tread+ machines in fiscal 2022.



  • Instagram Cracking Down on Bullying

 

When it comes to limiting hate speech and violence, Instagram is taking a stance. The social platform announced new measures to limit the reach of feed posts and stories that may violate rules against bullying, hate speech or inciting violence on the channel. Instagram explained that posts that fall within this category will be shown lower on the feeds of the followers of the particular account. At the risk of leading to more censorship and bias, the platform reward might be worth the risk. With the information of Instagram’s negative effects on teens coming to light in last year’s Facebook Files leak, these new safety measures work to combat that narrative. 


  • NFT Profile Pictures

 

NFTs are taking over the digital world, and now, some social platforms are welcoming NFTs into the spotlight as profile pictures. Twitter made virtual waves when it launched the NFT profile display option to its $2.99 per month Twitter Blue subscribers. Users can connect their crypto wallets to Twitter and select one of their NFTs as a profile picture. Adding another layer of authenticity, the NFT profile images are converted to the new hexagonal shape that is only available to the authentic NFT owner. Another platform that might offer NFT profile pictures is Reddit. In fact, ‘cryptocurrency’ was the most discussed topic on the platform in 2021, so this possibility seems to make sense. We’re keeping a close eye on the official announcements and launches of NFTs on social media, and will share more as we learn.


  • TikTok’s Marketing Chief ‘Going Rogue’

 

A recent string of buzz-worthy TikTok marketing campaigns has hit the internet over the past several weeks, and as the saying goes, not all publicity is good publicity. It’s confirmed that TikTok’s marketing chief, Nick Tran, has been let go from the company after his unique campaigns were shared without approval from senior leadership. A few of his ‘rogue marketing stunts’ were leaked to multiple news outlets, generating wide coverage about plans that would never come to fruition. A few of these viral campaigns that led to his sudden departure were TikTok Resumes, the creator-led NFT collection and TikTok Kitchens. 


As Peloton slows down, Instagram ramps up safety measures, NFTs hit profile pictures and TikTok says goodbye to a key player, we’re heading into this week full speed. If you’re ready to keep up, meet us on our social pages 7 days a week, and right back here next Monday for more trending topics and news.