The Future of Online Advertising with Hikari Senju of Omneky

Hatched by Glasp
Aug 30, 2023
4 min read
2 views
Copy Link
The Future of Online Advertising with Hikari Senju of Omneky
Understanding the Hype behind Non-Fungible Tokens (NFTs)
Non-Fungible Tokens (NFTs) have been making waves in the digital world, with their ability to provide holders with a sense of ownership and authenticity. In fact, a survey conducted by NonFungible and L'Atelier BNP Paribas found that 68.4% of NFT holders have an emotional attachment to their tokens, rather than seeing them solely as investments. This emotional attachment can be attributed to the human tendency to collect, which is a widespread phenomenon among adults.
NFTs take advantage of smart contract technology to store and record their unique information on the blockchain. This means that each NFT is one-of-a-kind and can be verified as authentic. This is a significant advantage for non-fungible goods, as proving authenticity has always been a challenge.
One of the main factors driving the popularity of NFTs is the higher disposable income of individuals. With more disposable wealth, people are more inclined to engage in collecting and investing in assets that bring them pleasure and display their status. This was evident in the toys/models industry, which accounted for $3.45 billion worth of US retail sales in 2012.
Profit-making is another reason behind the surge in NFT trading. NFT traders are buying tokens upon issuance and reselling them at higher prices, taking advantage of the limited supply and increasing demand. This has attracted more buyers into the market, leading to a higher trading volume. In February 2021, the sales volume of NFTs reached over $200 million.
Increased market awareness is also contributing to the growth of NFTs. Consumers are spending more time consuming online content, doubling their average daily consumption from 3 hours 17 minutes to 6 hours 59 minutes. Despite this increased content consumption, market awareness of NFTs has been relatively low. However, as the online world continues to take over, NFTs can bridge the gap between the real and virtual worlds, providing value and meeting the societal needs of individuals in the digital medium.
One of the challenges in the NFT market is the lack of a reliable benchmark for pricing. Different NFT categories have different market forces, and the industry is still in its infancy. However, scarcity plays a significant role in determining the value of NFTs. The rarer a piece is, the higher its perceived value. This scarcity mindset is deeply ingrained in human psychology - we always want what we can't have.
The recent explosive growth of NFTs can also be attributed to social commentary. NFTs have become a platform for expressing opinions and making statements. This adds an additional layer of emotional resonance and value to the tokens.
In conclusion, the future of online advertising is intertwined with the rise of NFTs. The unique characteristics of NFTs, such as authenticity, emotional attachment, and profit-making potential, make them an attractive asset for individuals with higher disposable income. As market awareness increases and the online world continues to dominate, NFTs have the potential to bridge the gap between reality and the virtual world. However, the industry still faces challenges, such as the lack of a benchmark for pricing and the infancy of the market. Despite these challenges, NFTs have captured the attention of collectors and investors alike, and their future looks promising.
Actionable Advice:
- 1. Educate yourself: Learn about the world of NFTs, their unique characteristics, and the potential they hold. This will help you make informed decisions when it comes to buying, selling, or investing in NFTs.
- 2. Research the market: Before diving into the NFT market, do thorough research on different NFT categories, their market forces, and trends. This will help you identify potential opportunities and make better investment decisions.
- 3. Diversify your portfolio: Just like any other investment, it's important to diversify your NFT portfolio. Don't put all your eggs in one basket. Invest in a variety of NFTs to spread the risk and increase your chances of success.
By following these actionable advice, you can navigate the world of NFTs more effectively and make the most of the future of online advertising.
Resource:
Copy Link