Hello! Thanks for your question. 

When you say branded content I assume you mean ads on social media that are clearly marked as ads. 

Native ads are still sponsored and are usually required to mention they are are sponsored but are contructed in such a way that they look like the content you are advertsing on. For example if you are wanting to advertise your new facial care products on Vogue you would write an article in the same format as a Vogue article and mention your products. 

Some  cons of Native advertising are: 

 They are time and labor intensive to create

Ad Blocking software may block some of your ads (less likely with Native ads, but still possible)

Some positives are: 

Custom Content is a major advantage of Native Advertising, customers enjoy more engaging content. 

Higher CTR rates are the norm for native ads. Many web users have advertsing fatigue. So an ad that doesn't look like an ad is a more effective. 

If youd like to read more read this article on Native Advertsing.

https://www.savvysme.com.au/article/9494-Native-Advertising-in-2021-How-it-can-benefit-you

Good luck!