NFTs, ‘new’ social and the way forward for model content material

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Disinformation and misinformation are unfortunately the negative dividends of the digital world. Politics is full of “false news,” “alternative facts,” and conspiracy theories that lead some to ponder the dangers of living in a “post-truth” environment.

The same dangers are bleeding into the business world as well. “Fake storytelling that intentionally leads to disinformation has also impacted products and services,” said Shlomi Ron, CEO of the Visual Storytelling Institute. As examples, Ron Scherze cited that Coca-Cola is reminiscent of Dasani bottle water because it was infested with “clear parasites” (wrongly) and the story that the Xbox console killed a teenager (not like that) .

“The current argument of social networks is that ‘it’s not us, that’s what people don’t want’ to fly.” Said Ron. “They control the content through algorithms that amplify the same content to increase the dwell time,” which in turn leads to advertising dollars, he said.

New sales models will emerge to replace social media as we know it today, Ron predicted. Privacy regulations are the law in Europe and are becoming law in the US. Antitrust concerns are mounting to challenge digital powerhouses like Google, Facebook, and Amazon. Improving the privacy of users (Apple) and browsers without cookies (Google) is in the game.

“There are four actors involved in this challenge: existing social networks, regulators, consumers and new technologies.” Ron continued. “I think we will see more scrutiny at the regulatory level to address publishers’ lack of responsibility for user-generated content, better consumer education and new detection technologies.” In the United States, interactive websites are protected by Section 230 of the Communications Decency Act.

Storytelling through blockchain

Finally, we come to crypto storytelling. This will require some explanation.

The basis for crypto storytelling is the non-fungible token (NFT). “[It] is a unit of data stored in a digital ledger known as a blockchain that certifies a digital asset as unique and therefore not interchangeable. “Explained Ron. “NFTs can be used to represent items such as photos, videos, audio, and other types of digital files.”

Crypto storytelling offers everyone a marketplace where they can list their digital assets and sell them with cryptocurrency. For example, “The buyer is buying a video with a unique digital certificate that ensures it’s a unique good,” Ron explained.

“Sellers hope to monetize their digital art in ways never seen before, and buyers hope to buy a digital asset that they can eventually resell for a higher price. All future sales of that particular video will give the original creator / seller a percentage cut on all future transactions. The rules for the success of e-commerce also apply to the NFT market in the sense that in addition to active marketing efforts, the creator must have a strong community of social followers for her work, ”said Ron.

NFTs are not limited to digital works of art. “You can also find [them] in virtual merchandise in the gaming space, where fashion retailers sell their virtual clothing to disguise gamers’ avatars, ”said Ron. “There, NFT also helps to uncover counterfeit products. This is vital as the total counterfeit trade is valued at around $ 4.5 trillion and counterfeit luxury goods account for 60% to 70% of that amount. “The Harvard Business Review described how luxury brands can fight counterfeiters.

“It’s very early for this emerging category, and like any other gold rush-fueled demand and supply-driven category, it will stabilize once regulations catch up,” he said.

Forgive the interruption

In the end, visual storytelling – and its subsets – has to overcome the clutter in order to reach the customer.

“Audiences are tired of traditional advertising methods,” said Ron. Much of the advertising is based on interruptions, such as B. the pop-up advertisement or the TV commercial. Now, if they cut the cable to get online, a third of the cable television audience will likely disappear by 2024. “I consider visual storytelling to be the next evolution in disruptive marketing,” said Ron. Brands are starting to create their own documentaries and short films that tell stories in order to reach viewers. “Your guard is coming down,” he said. “They don’t take it as an advertisement.”

These could be the 30 second Panera driver shorts mentioned in the first part of this story. Or it could be longer pieces of content like those created by Charles Schwab, Patagonia, or Johnson & Johnson, noted Ron. When people don’t feel like they are being sold, there is an opportunity to build affinity, empathy, and trust.

“This is where visual storytelling shines,” said Ron. “I firmly believe that a good story with relatable characters, high stakes, an emotional roller coaster arc, and inspiring morals always wins,” said Ron.

This story first appeared on MarTech Today.

About the author

William Terdoslavich is a freelance writer with a long background in information technology. Before writing for Martech Today, he was also involved in digital marketing for DMN. As an experienced generalist, William worked for Insights.Dice.com, Big Data for Information Week and Software-as-a-Service for SaaSintheEnterprise.com in the IT industry. He also worked as a feature editor for mobile computing and communications and as a feature section editor for CRN, where he had to deal with 20 to 30 different technical topics over the course of an editorial year. Ironically, it’s the human factor that makes William write about technology. No matter how many people try to organize and control information, it never quite works the way they want it to.

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