NFTs: The Future of Digital Ownership and How It Will Impact Business

Introduction:

Non-fungible tokens (NFTs) have taken the world by storm, creating a buzz in the digital world like never before. NFTs allow for the creation of unique digital assets that can be bought, sold, and traded like physical assets. The impact of NFTs on businesses is vast and far-reaching, with the potential to revolutionize industries from art and music to gaming and sports.

The Rise of NFTs and Their Benefits

NFTs offer several benefits for businesses and consumers alike. They provide a secure and transparent way to track ownership and provenance of digital assets, which is especially important in the world of art, where authenticity is crucial. NFTs also allow for fractional ownership, enabling individuals to invest in assets that they would not be able to afford on their own. Additionally, NFTs offer a new revenue stream for creators and artists, who can now monetize their digital creations.

The Impact of NFTs on Business Models

NFTs have the potential to disrupt traditional business models in several industries. For instance, in the music industry, NFTs can enable artists to bypass traditional record labels and distribution channels, allowing them to retain greater control over their work and receive a larger share of the profits. In the gaming industry, NFTs can create new revenue streams through the sale of in-game items and virtual real estate. In the sports industry, NFTs can create new opportunities for fan engagement and monetization of fan experiences.

The Future of NFTs and Digital Ownership

As NFTs continue to gain traction, it is likely that they will become an integral part of the digital economy. The technology behind NFTs is constantly evolving, with new innovations emerging to enhance their functionality and accessibility. Additionally, the regulatory landscape around NFTs is likely to evolve, with governments and regulatory bodies seeking to provide guidance and oversight to ensure that they are used in a safe and responsible manner.

Conclusion:

Non-fungible tokens represent a significant shift in the way that we think about digital ownership and value. Their potential to disrupt traditional business models and create new revenue streams is vast and far-reaching. As NFTs continue to gain popularity and the technology behind them continues to evolve, businesses must adapt to these changes to stay ahead of the curve and take advantage of the opportunities that NFTs present.

Benefits From Digital Signage - Endless Possibilities

The first consider the low-hanging fruit that makes dynamic menu boards so effective for restaurants. According to Nelsen's third-quarter (2013) Digital Place-Based Video Report, ad recall for POS-type digital signage is typically in the 60% range, which is more than twice the average recall of static signs-menus or otherwise.

This is the reason you can so easily recall the rich color of a creamed latte topped with cinnamon spice at your local coffee shop. Or, depending on where you dine, maybe you can easily recall dynamic advertising for the most awesome, juiciest pub burger that can fit in the mouth of man. I saw such an ad not long ago and it just keeps playing in my memory like a favorite song.

Such recall makes it a natural choice for promoting those more seasonable and profitable food items at the right time and place. According to a Networld Media Group report, Digital Menu Boards and ROI, the average sales lift of any digitally promoted item on menu boards averages around 3-5%, which means that payoff for such a system most often occurs in one year or less.

The restaurant market definitely benefits from digital signage, although the possibilities only start with ROI and grow from there. Improving the customer experience is also about a return on objectives (ROO). Case in point: Medicine Eat Station in San Francisco. This upscale downtown tofu shop is using digital signage for ambiance. The integrated sign system creates the atmospherics of "living in harmony with nature" that is accentuated by 4 vertically rotated 42" plasma panels built into the wall of the eating gallery. To accomplish this, high-definition video footage of the Rocky Mountain landscape is used for real-time imagery. 

The programming lasts for about an hour before it repeats. At first glance, it appears to be a still image. But wait, this is real-time imagery, meaning that the clouds slowly cross the screen. A 4,000-year-old Bristle Cone Pine occasionally wavers in the Rocky wind. Light and shadows change constantly, as if you are really there.

This is a great example of ROO, but unfortunately digital signage used as a canvas for art really hasn't caught on yet. It is by no accident that Medicine Eat Station built this to look like one giant window. It is very cool to experience, meaning that it adds to the purpose of customer satisfaction, just like ambient music, lighting, colors, etc.

Money managers are already pounding their fists, shouting, "Where's the ROI!" Of course, it's possible to occasionally slip in an advertisement on the example above, but this might be detrimental to the return on objectives and may compromise the result. Digital signage is not just about sales lift; it's also about creating a return on objectives. ROO creates a value that cannot be counted in terms of dollars and cents directly. However, ROO leveraged wisely does produce ROI.

Many more POS digital signage opportunities are possible for food and beverage venues. Imagine if you will these scenarios:

• A sports bar with digital screens showing "this week's sports highlights" via pictures, video replays, etc., is a

natural place to present promotions to a viewing audience already buying food and beverage. This kind of content adds to customer satisfaction and experience and is available through readily available prepackaged syndication.

• Engage patrons with an on-screen sports trivia experience (or any other trivia for that matter) that encourages participation by offering a coupon for the right answer. This can be done by using a QR code to facilitate the "answer" to the on-screen question.

•  In a QSR setting people are often interested in news, sports, and weather. These interests can be satisfied with existing TV programming and mixed with on-screen ticker announcements, such as today's special, menu promotions, seasonal sales, etc.

•  How about a trendy restaurant that displays works from local artist. The LCD monitors hang on the wall with picture frames wrapping them. Maybe patrons vote on the best art. Owners could join forces with local art schools, art societies, and public support groups. Ultimately, this could tie-in to customer satisfaction and experience. Who is not uplifted by good art, and for that matter, good food?

• In downtown districts, many restaurants depend on people walking buy. Instead of using posters turning yellow on windows, why not project clear and crisp digital images directly on the window! The technology exists but hardly anyone uses it. The projector cost is about the same as a large LCD screen, although projector bulb replacement would add to maintenance costs. If that's a major concern, then laser projectors are an alternative with much longer maintenance cycles. These images could be today's menu special, happy hour enticements, a new menu item that you can almost taste, a soothing cup of fresh ground coffee on a chilly morning, or just good old branding that reinforces quality services, etc.

• Now let's turn to the nightclub scene where people are hopping and bopping on the dance floor. Bizarre curved screens are splashed like clouds above them with computer-controlled graphics flashing to the beat. During breaks, projectors are switched over to digital signage where various branding and POS offers are made.

The Fastest Changing Media Digital Marketing

Media Digital Marketing the fastest changing media among all others. It takes just one minor change by a big fish like Google to send ripples of changes across the media. Thus, periodic analysis of such changes is necessary. At the dawn of  2014, this article discusses the popular trends that rule Digital Marketing so as to facilitate both advertisers and publishers in understanding the exact spots of the hot iron where the hammer is to be brought down. An informal study of the various branches reveals that Digital Marketing is bound to depend on content like never before.

The top three important parts of Digital Marketing according to advertisers and publishers are Content Marketing, Mobile Marketing, and Big Data. Around 29% of the respondents believed Content Marketing will define Digital Marketing in 2014, 15.1% opined Mobile Marketing will see another big leap, while 12.9% said that feeding Big Data into the Internet will determine what the brand takes out of this media. Social CRM came fourth in the ranking with 9% rooting for it as the single most point of focus. Let us now analyze the top three trends that are likely to rule Digital Marketing in 2014.

Content Marketing for ORM

The content posted by, for, and about the brand shall be the biggest determining factor of the reputation which the brand creates for itself in the online world. Digital Marketing has become directly linked with Online Reputation Management (ORM) and the quality of the content has a direct effect on it. As the digital world is the modern method of communication, the online reputation which a brand develops is its image and is shared and communicated. Considering the speed at which information is passed around among the net users, keeping a close watch on the content is important. Content Marketing is no longer just about posting content. It also involves managing the reactions (to be fathomed from the comments) and ensuring that a good online reputation is built and maintained.

Mobile Marketing for Better Targeting

The rate at which Mobile Marketing is developing almost single handedly fuels the growth in the digital world. With more and more users shifting from desktops to handheld devices, it is imperative for a brand to invest in this medium. Some experts even go ahead to predict that Mobile Marketing will one day define the whole process of Digital Marketing. With the speed and capacities of the mobiles improving in leaps and bounds, the above prediction may very well be worth its salt. It lends teeth to the targeting capabilities of Digital Marketing. With Mobile Ads finding a way to even the apps of smart phones, it is necessary to stay in the constant view of the users.

Big Data for Public Relations

Big Data denotes the information on the functions of the business, both structured and unstructured. Such data has traditionally been used for analysis by the brand so that defects and shortcomings can be accurately found out and rectified. Releasing informative data on the net bestows the faith of the users and enhances brand image. For example, if an automobile company conducts a research on the various car segments in the industry and releases the findings on the net, it would affect the potential consumers in 3 definite ways. Firstly, it will help the consumers to determine the best vehicle as per their needs, secondly, it will create goodwill for the brand, and thirdly the trust on the brand will go up.

Along with the above, the Digital Marketing will continue to thrive on SEO (Search Engine Optimization) and SMO (Social Media Optimization). However, the predictions for 2014 make it worthwhile to associate with a Digital Advertising Agency.

Digital World And E-Publishing

People used to depend on print media to flock information. With the revolution of Magazine Subscriptions Online, Book lovers shall have to carry no more plethoras of paperbacks!

Electronic publishing is also familiar as desktop publishing, online publishing or simply web publishing. E-publishing includes e-books, EPUBs, and electronic articles. Scroll down to check the key features of e-publishing

- Hoards printing and distribution
- Endows high global visibility
- Overcomes geological restrictions that are widespread in print media
- Distribution and publication time has abridged substantially
- Anyone can read the published content on a website or on a tablet device, or in a PDF on a computer
- Large collections can be probed simultaneously
- Reduces paper processing, binding, risk of loss/damage

What are the various e-publishing models?

E-publishing has made wonders in the digital media. Let's look into the various models of online publishing

1. Digital Publishing

This method delivers media content such as audio, video, software that doesn't exploit physical media like internet. In other words, it is pertinent to downloadable add-ons / software distribution. With the development in network it became popular in the mid of 2000's.

2. Online promotion

Online promotion or simply online advertising plays an important role in marketing products and services over the internet. This can be achieved through various platforms like ranking in search engines, advertising in social networks like Facebook, Twitter, etc. blogs, banner ads and more.

3. Print on Demand

The tile itself reveals that the printing would be done only when the order has been placed. This method follows fixed pricing per copy and very less or no waste is incurred. Also, this method avoids stocking, handling costs as well as accounting costs.

4. Subscription

In order to access the product or service the user has to pay fees that is termed as subscription fee. This was once pioneered by magazines and newspapers but now it is widely adapted by many businesses.

On the whole, it doesn't mean selling of the product or service but it is periodic selling may me monthly or yearly. In course of time, this model drew attention of telephone companies, cell phone companies, internet providers, magazines, journals and many more service providers.

5. Self-Publishing

Self-Publishing is nothing but publishing any book or piece of work by an author without the involvement of third-party publisher. The author himself is solely responsible right from design to marketing. But the authors can now take a deep breath as the outsource companies that offers all these services have sprung up.