Author Archives: 49770

13 December 2023
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NFTs: Digital scam or the future of ART?

Reading Time: 3 minutes

Two years ago the art world was shaken up by the introduction of Non-Fungible Tokens (NFTs), which have brought about a digital revolution that challenges conventional concepts of ownership and value. 

While NFTs have undoubtedly created unprecedented opportunities for artists, they have also caused some controversy in the art market due to their occasional absurdity. This article will explore the impact of NFTs on art, examining their transformative power, controversies, and sometimes perplexing nature as a digital phenomenon.

Tokenizing Art: A Paradigm Shift or a Passing Fad?

The traditional art market has always dealt with physical artworks such as canvas, sculptures, and other tangible forms of creative expression. However, with the advent of NFTs, the art world is witnessing a paradigm shift. Artists can now create digital artworks and tokenize them using blockchain technology. This move towards digitization challenges the very definition of art and expands the boundaries of what can be considered as a work of art.

NFTs have opened new doors for artists, allowing them to reach global audiences without the need for traditional gatekeepers. The digital art market has democratized art ownership, allowing anyone with internet access to participate.

However, the NFT market is inherently speculative and comes with risks. The value of NFTs can be highly volatile, and it is subject to sudden shifts based on social media trends, market sentiment, and the opinions of influential figures.Therefore there is no doubt that the NFT market vulnerable to fraud and manipulation.

Meme Magic!

Blockchain platforms have given significant value to digital creations, even those that were once considered mundane or absurd, often originating from internet humor.
Memes, which are typically short-lived and quickly forgotten, are now being given a new lease of life and value through Non-Fungible Tokens (NFTs).

Buyers are willing to invest large sums of money in these digital artifacts, which is challenging the conventional ideas of how art is valued, as they do not necessarily depend on factors such as craftsmanship, cultural relevance, or artistic merit.Critics argue that this trend goes against traditional principles of art valuation.

As NFTs featuring memes become increasingly popular, the art world is facing a dilemma. It is navigating a landscape where humor and value converge, which is redefining the boundaries of creativity and challenging our perceptions of what is considered serious and credible in the realm of art.

The collapse of NFTs

95% of NFTs are dead.

Forbes

In the autumn of that your NFTs market has officially collapsed.  

According to the Internet, there was not enough demand for NFTs to match the supply. This made it difficult for projects without clear use cases, compelling narratives, or genuine artistic value to attract attention and sales.

The NFT bubble burst due to oversaturation and unsustainable hype. It is crucial to differentiate between short-term trends and long-term potential. They require continued innovation for relevance in an ever-changing market.

iMi Blockchain

In addition, I have attached a fascinating video about Beeple, the first digital creator who sold the most expensive digital artwork in history. Enjoy!

Resources

Forbes article “Why 95% of NFTs are dead?”

Article about the Fall of NFTs (iMi Blocckchain)

Video about the explanation of the NFTs market boom (The Verge)

General article explaining what NFTs are (National Geografic)

Article “The rise and fall of NFTs” (Verdict).

29 November 2023
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Taste of the future. AI has created a new flavor for Coke.

Reading Time: 2 minutes

It is not a secret that AI is highly implemented in every aspect of our daily lives, be it medicine, car production, or even the fashion industry. Nevertheless, not many of us expect to see AI-created products in our fridges.

However, nowadays the world is full of surprises.  The Coca-Cola Company introduces a new flavor created with the help of AI power and claims that it is the taste of the future. The company has combined technology and taste to create a unique experience for consumers.

Coke Y3000 was ‘co-created with AI’ and is meant to taste like the future.

AI Business

The creation

Coca-Cola ventured into the world of AI-generated flavors after realizing that consumer preferences are constantly changing. In today’s world, where customization and personalization are crucial, the company aimed to develop a drink that would not only cater to diverse tastes but also challenge the limits of what a cola can be.

The heart of this innovative venture lies in the sophisticated AI model that Coca-Cola employed. Trained on a myriad of data points, the AI system learned to understand the intricate nuances of flavor profiles, textures, and aromas. It was programmed to explore unconventional combinations and identify synergies that human taste testers might overlook.

The AI model generated countless possibilities for flavor combinations, and each iteration considered feedback from sensory experts. They took the learnings from each attempt and incorporated them into subsequent ones. The end result was a flavor that went beyond the ordinary, showcasing the potential of AI in the realm of culinary creation.

Is this even edible?

After introducing its AI-generated Coca-Cola flavor, the company eagerly awaits feedback from consumers. Early reviews indicate a positive reception, with many expressing enthusiasm for the innovative approach to beverage creation.

The verdict? It tastes fruity.

AI Business

Many Coca-Cola fans claim that the taste is refreshing and resembles a mix of fruit and bubble gum.

Conclusion

Coca-Cola’s venture into AI-generated flavors is a bold step toward the future of beverage innovation.By leveraging artificial intelligence, the company has not only created a unique and exciting product but has also set the stage for a new era of taste.

This marks a shift in the beverage industry, where technology and taste intersect to create products for a diverse global audience.

This flavor was created to show us an optimistic vision of what’s to come, where humanity and technology are more connected than ever.

Resources:

Article about the crteation of special test (AI business)

Official site of Coca-Cola about a new taste.

Reviews about new taste. 

Bard.

Another review: “Y3000: Where Technology Meets Taste in Coca-Cola’s Vision of the Future” (LinkedIn).

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15 November 2023
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Why do we buy what we buy? Doom scrolling and the influence of social media on sales.

Reading Time: 3 minutes

Doom scrolling and aftermath.

“Doom scrolling” is a playful term used to describe mindless scrolling through social media without purpose. The phrase “dumb scrolling” implies a lack of intellectual involvement or deliberate thinking while scrolling. It emphasizes the automatic and repetitive nature of this behavior, where people may be scrolling out of habit, boredom, or as a form of procrastination.

This constant scrolling can be compared to a state of digital inertia. People mindlessly flick through an endless stream of updates, photos, and videos, often losing track of time.

But what influence do those photos and videos have and how do social media like Instagram and TikTok make you buy?

How the images and media that we are fed daily actually make such an impact on not only what we buy, but also what we choose to pursue, explore, and desire?

In today’s digital age, social media is a powerful force that influences nearly every aspect of our lives, including our purchasing decisions. It’s no secret that businesses, both small and large, have harnessed the potential of social media to boost their sales. But what exactly is it about social media that drives people to make buying decisions, and how can businesses enhance this influence? 

This article explores the relationship between social media and sales and discloses in some way what exactly makes people buy.

Ubiquitous Targeting

Nowadays, I guess nearly everybody has heard about targeted ads. Social media provides businesses with the ability to reach their ideal audience through targeted advertising based on data analysis. Advanced algorithms implemented on platforms such as Facebook and Instagram analyze user behavior, interests, and demographics, allowing businesses to create and customize their ads to cater to specific consumer segments. 

In personalized marketing, the key is to provide content that speaks to the individual. When a person comes across an advertisement that resonates with their interests and requirements, they are more likely to interact with it and ultimately make a purchase. The sensation of being appreciated and valued as a customer is a critical factor in the decision-making process of buying.

That is a powerful tool for businesses to have a higher chance of reaching potential customers, who are already interested in the product. Nevertheless, sometimes it can be unsettling to see ads for topics you discussed with family during dinner, even when not using your phone. Therefore, read Terms & Use policy carefully.

A “Buy now” button. Social-commerce.

Social Commerce is a term that encapsulates the fusion of e-commerce and social media.

Many social media platforms now offer integrated e-commerce features, allowing businesses to sell products directly through their social profiles. This streamlined approach reduces friction in the purchasing process, making it more convenient for consumers to buy products they discover on social media. Features like “Shop Now” buttons and in-app checkout options are becoming increasingly prevalent.

Therefore, there is no other option for you than to buy a product.

Influencers impact and perfect life effect.

We live in the era of influencers. Nowadays, authenticity and relatability are more vital than ever. Influencer marketing involves partnering with individuals who have a dedicated and engaged following on social media. These influencers can impact purchase decisions by simply recommending a product or service.Therefore, it is functioning as a word of mouth.

The reason why influencer marketing works so well is trust. People tend to rely on recommendations from individuals they admire and follow. Influencers are seen as authentic and genuine, which makes it more likely for their followers to buy products they promote. This trust extends not only to the product itself but also to the brand that stands behind it.

We strive to emulate the lives of our role models by observing their beliefs through our mobile screens. We want to be like them and buying products they allegedly use is the most simple way to do so.

Conclusion

The influence of social media on sales is multifaceted and dynamic. Businesses must understand the factors that drive people to buy in a digital landscape where trust, personalization, social proof, and emotional appeal are paramount.

By effectively leveraging social media and understanding the way customers businesses can thrive in the digital marketplace and achieve remarkable sales growth. The world of e-commerce is evolving, and it’s crucial for businesses to adapt and harness the full potential of social media in driving their sales and customer engagement.

Resources:

Article: “The impact of social media across every part of your business” (SproutSocial)

Article “Why We Buy What We Do” (The Atlantic)

Bing

Article “How to Stop Doomscrolling and Find Meaning on Social Media”(Time).

Article “What Are The Advantages Of A Marketplace On A Social Media Platform?” (LinkedIn).

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1 November 2023
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Digital Payment Systems: Era of online transactions.

Reading Time: 3 minutes

In the recent past, paying for goods and services usually involved cash or swiping a card through a terminal. Nowadays, the landscape of financial transactions has gone through a remarkable transformation. Digital payment refers to online transactions without physical cash exchange. It have revolutionized the way we use money, making it more convenient, secure, and efficient than ever before. 

This article examines the evolution and usage of digital payment systems, exploring how they have become a sophisticated tool.

  1. Widespread digitalization. 

In today’s fast-paced world, nobody would doubt that digitalization is everywhere. Our society has become increasingly reliant on digital technology, prioritizing its use above other means of communication and information exchange. Therefore the demand for efficient and secure digital payment options continues to grow.

The global economy has become increasingly digitalized. E-commerce has revolutionized retail, enabling businesses to reach customers in any location they might be, either physically or digitally with the help of the Internet. Cryptocurrencies and digital payment systems have emerged, altering the way we conduct financial transactions. Today we cannot imagine the world without online transactions,  since it became a crucial part of every business.

2. Accessibility and online banking

Online banking and e-commerce platforms allowed consumers to make purchases from the comfort of their homes. Digital payment systems break down geographical barriers and facilitate cross-border transactions. Payment gateways, such as PayPal, emerged, enabling secure online transactions. These developments not only transformed the retail industry but also opened doors for digital-only banks and startups to challenge traditional financial institutions.

Digital payment systems offer convenience. They eliminate the need for physical cash, reduce the reliance on plastic cards, and enable quick and easy transactions through smartphones, tablets, or computers. This convenience has transformed the way consumers and businesses handle financial transactions.

3. Cyber security

The convenience of digital payments often involves the collection and storage of vast amounts of personal and financial data. This raises concerns about data privacy and how this information is used and protected. Therefore the topic of cyber security is so relevant nowadays.

Keeping your money safe when you use digital payments is really important. Digital payment systems use special technologies like secret codes, digital IDs, and unique body features (like your fingerprint or face) to make sure your money is protected. These make digital payments very secure.

As digital payment systems continue to evolve, governments and regulatory bodies must adapt to ensure consumer protection, combat money laundering, and maintain financial stability. Striking the right balance between innovation and regulation is an ongoing challenge.

That is why awareness and consciousness are important both in the real world and in cyberspace. 

4. Environment help. Paperless transaction- key to sustainability.

Finally, with the increasing use of digital payments in our daily lives, we can contribute to protecting the environment. The way we make payments has a hidden benefit for our environment. In the past, when we used cash and paper checks for transactions, it harmed the environment by causing deforestation, using a lot of energy, and creating waste. But now, thanks to digital payments like mobile wallets, credit cards, and digital currencies, we’re making a positive impact on nature.

How does digital payment help?

One big way digital payments help is by reducing the need for paper. We used to rely on paper for things like receipts and checks, which required cutting down trees and using a lot of energy to make the paper. 

Less paper use means fewer harmful emissions that contribute to climate change. Producing, transporting, and disposing of paper-based financial records used to release a lot of greenhouse gases.

Therefore, it is a win-win for convenience and nature.

It can be concluded that customers generally appreciate the variety of payment options available to them. However, there is still room for improvement. Businesses need to take note of the fact that younger generations tend to favor alternative payment methods and expect quick and secure transactions as part of their payment experience.

Sources of information:

Article “Billing and Payment Trends and Behaviors” (Aci WorldWide)

Article “The Evolution of Digital Payments: A Timeline” (OriginStamp)

Article “14 Security Measures You Need To Take When Using Digital Payments” (Forbes)

PopAI (AI Power)

Article “Digital Payments: The Benefits, How To Use Them In Your Business And What To Look For In A Provider” (Forbes).

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18 October 2023
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The culture of instant satisfaction: how streaming services have transformed entertainment.

Reading Time: 4 minutes

The culture of instant gratification has become deeply ingrained in our daily lives. With one click we can get anything  we want. From ordering food with a few taps on our smartphones to accessing information with a quick internet search, we have become accustomed to having what we want, when we want it. Nevertheless, most of the time it is not what we need. We want to be satisfied all the time, desire to consume content every minute of our lives, and become zombies of our phones. Looks like addiction, right?

So how did it happen? How we did not notice that change? 

In today’s digital age, streaming services have become a huge part of our lives, transforming the way we consume entertainment. With the rise of global digitalization, these platforms have not only changed the entertainment industry but have also created the tools to capture and retain over and over again customer attention.

This article explores the strategies used by streaming services to keep viewers engaged and satisfied.

Accessibility and Convenience

In today’s digital age, the accessibility and convenience offered by streaming services have become integral to our daily lives. Platforms such as Netflix, HBO, and Disney+ have revolutionized the way we access our favorite shows and movies. Viewers can now enjoy their preferred content at their own convenience, eliminating the need for physical media or adhering to scheduled programming. Moreover, these services offer various subscription options to gratify diverse audience. Additionally, features like multiple language options, voice-overs, closed captioning, audio descriptions, and flexible viewing choices have played a crucial role, particularly during the COVID-19 pandemic. They break down barriers and address the unique needs of viewers while providing cost-effective alternatives and parental controls.

Continuous Release Schedule

Streaming services often release new episodes or seasons of shows on a regular basis, creating a sense of anticipation and excitement among viewers. That is why they are kept engaged and encouraged to come back for more content. “If you’ve felt just slightly overwhelmed by the avalanche of television that was available in 2022, it’s because, in America alone, a whopping 599 original, scripted, English-language series were in production last year.”( According to NEWS24). However, less than 50 years ago there were approximately 80 shows annually.

The Thrill of Uncertainty (Cliff-hangers and open-endings)

Nevertheless, it is an old trick to get people’s attention, cliff-hanger moments and open endings have become powerful tools in storytelling.  These narrative techniques have the ability to keep viewers on the edge of their seats. By leaving crucial questions unanswered or introducing unexpected twists, these narrative devices generate a level of uncertainty that leaves audiences yearning for resolution. Creators can ensure that viewers remain hooked, eagerly awaiting the next chapter in their favorite stories.

Netflix, every show of that has an open ending, uses this technique more often than other services. Firstly, it is made for commercial reasons. That way, in case of a financial breakthrough,  Netflix makes sure that they will be able to continue filming a successful project.

Satisfaction of the customer or «We just gave you what you wanted!».

Have you seen that streaming services in recent years started to produce «new» content, based on old, well-known in some way mainstream films and TV shows (So-called prequels and sequels)? Streaming services, in that case, are playing on a nostalgic feeling and connection to a viewer’s feeling of something familiar. Shows as “House of Dragon” and “The Lord of the Ring: The Rings of Power” just had to receive good reviews and high box office fees.

Personalized Content and Intelligent Music Shuffling

By employing complex algorithms and user preferences, digital platforms have introduced a novel approach to delivering customized suggestions according to individual choices. For instance, Netflix, even before users sign up, invites them to specify their favorite shows and genres. As a result, streaming services have made the process of discovering new content increasingly effortless.

Additionally, the renowned music streaming service Spotify offers a feature known as “smart shuffle,” which aids in identifying music tracks likely to resonate with users based on their previously curated playlists. This ingenious functionality transforms the music listening experience into a more personalized and enjoyable journey.

Furthermore, Spotify enhances user engagement through its “song radio” feature, which compiles playlists of songs similar to the ones users have already expressed a liking for. This intricate process, as alluded to in point 4 of the original article, is rooted in understanding established patterns within our cognitive responses, allowing for the discovery of songs that align closely with individual tastes.

Conclusion:

To sum up, what was just said, streaming services play a crucial role in entertainment consumption and reshape the way we engage with television.  It can lead to either positive aspects as accessibility and informational globalization or negative as addictions and unconscious consumption.  

Therefore, we need to be conscious about how and what we consume. Because we might not notice how we have binge-watched a whole 10-hour show in one night.

In addition to the article, I would like to attach the link to video about how streaming services caused the writer’s strike.

Sources of information that are used in the article:

ChatGPT

Article “Has Streaming Amplified the Culture of Instant Gratification?”(Rolling Stone Magazine)

Article ” That’s how many scripted TV shows America gave us in 2022 “(NEWS24)

Article “Why You Succumb To Instant Gratification – And The Easiest Way To Make Life Optimizing Choices” (Forbes).

Article “The Psychology of Netflix: How the Streaming Giant Influences Consumer Behavior” (LinkedIn).

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