Patent Application
20240062252
The present invention relates to a field of digital advertising and promotion. Specifically, the invention discloses a pioneering and collaborative methodology, one that harnesses the potential of Non-Fungible Tokens (NFTs) as instrumental tools for precise and directed advertising strategies within an online social network, thereby reshaping the advertising dynamics, fostering meaningful interactions and value creation in a dynamic digital landscape.
In today's rapidly evolving digital landscape, traditional methods of advertising are often met with diminishing returns. Conventional advertisements, whether they be banner advertisements, pop-ups, or sponsored posts, frequently encounter advertisement fatigue as consumers become adept at tuning out such promotions.
One of the glaring gaps in current advertising strategies is the absence of a seamless integration between brands, influencers, and user interactions within the realm of online social networks. While influencer marketing has gained traction as an effective strategy, its implementation often involves third-party intermediaries and lacks a streamlined means for directly reaching and engaging with the influencer's audience.
Moreover, the potential of emerging technologies such as blockchain and non-fungible tokens (NFTs) has yet to be fully harnessed for advertising purposes. These technologies offer novel ways to establish ownership, and value in the digital realm. While NFTs have gained traction in art, and entertainment, their application in advertising remains unexplored.
Furthermore, the existing advertising ecosystem lacks a streamlined method for revenue sharing and distribution among relevant stakeholders. Influencers, who play a pivotal role in driving consumer behavior, often have limited avenues for direct financial benefit from their endorsements. This financial disconnect can lead to missed opportunities for mutually beneficial partnerships between influencers and brands.
The Patent Application No. US2022398538A1 titled “Systems Methods far Blockchain-Based Collaborative Content Generation” pertains to systems and methods of facilitating collaborative content generation within an NFT platform. One embodiment outlines a method to enhance engagement among content creators, involving receiving a request from a primary creator for secondary creators to collaborate on an initial content piece. The method identifies suitable secondary creators, sends collaboration requests, and receives acceptances. It incorporates a second content piece generated by a secondary creator, which is then tokenized for secure attribution to both primary and secondary creators. This application delves into fostering collaborative content creation within the NFT space while ensuring secure attribution of contributions.
The Patent Application No. EP3814967A1, titled “Systems and Methods for implementing Blockchain-Based Content Engagement Platforms Utilizing Media Wallets” pertains to the elucidation of systems and methodologies aimed at implementing content engagement platforms leveraging blockchain technology. These platforms encompass a registry service enabling verified content creators to generate Non-Fungible Tokens (NFTs), while media wallet applications securely store NFTs and user tokens, also capturing media consumption data. This data is aggregated within a permissioned analytics blockchain, allowing users control over data access permissions. A distinct media wallet securely stores NFTs, offers a user interface for managing data access, and records media consumption data on an immutable ledger in tandem with data access permissions. The invention establishes a comprehensive framework for secure content engagement and data management within blockchain ecosystems.
In conclusion, despite the advancements in technology and the prevalence of social media platforms, certain gaps persist within the current advertising landscape. Thus, there is a need for an innovative solution that capitalizes on the potential of NFTs, addresses the authenticity gap, and facilitates fair revenue sharing. Such solutions can significantly enhance the user experience and contribute to the evolution of a more productive and enriching online social networking landscape.
The present invention overcomes the drawbacks of the prior art by disclosing an innovative collaborative Non-Fungible Token (NFT) advertising system and the corresponding method.
The system facilitates partnerships between companies and influencers, enabling the co-creation of NFTs that incorporate multimedia content related to brands. These NFTs serve as authentic and engaging promotional assets. Through a user-friendly interface, the system showcases NFTs directly to influencer networks, leveraging the influencer's credibility for targeted advertisement. Moreover, the invention introduces a fair revenue distribution mechanism, ensuring that influencers receive a rightful share of revenue generated from NFT transactions. Furthermore, incorporating blockchain technology, the system ensures secure NFT co-ownership and trading, enhancing the credibility and value of the advertising approach. By leveraging NFTs' uniqueness and influencers' impact, the invention revolutionizes digital advertising within social networks, fostering meaningful connections and optimizing campaign outcomes.
The foregoing and other features of embodiments will become more apparent from the following detailed description of embodiments when read in conjunction with the accompanying drawings. In the drawings, like reference numerals refer to like elements.
Reference will now be made in detail to the description of the present subject matter, one or more examples of which are shown in figures. Each example is provided to explain the subject matter. Various changes and modifications obvious to one skilled in the art to which the invention pertains, are deemed to be within the spirit, scope and contemplation of the invention.
The terminology used in the description presented herein is not intended to be interpreted in any limited or restrictive way, simply because it is being utilized in conjunction with detailed description of certain specific embodiments of the invention.
The present invention discloses a collaborative NFT advertising system (100) on social networking platform (101) featuring an interconnected ecosystem wherein brands and influencers form partnerships (Partnership Establishment Module) (102) and create co-owned NFTs (Collaborative NFT Creation Module) (103) by embodying the brand-related contents. These NFTs are strategically showcased via an interactive interface (Advertisement Display Module) (104) to the influencer's network. User engagement drives revenue generation (Revenue Generation Module) (105), with fair distribution (Revenue Distribution Module) (106) wherein Blockchain Technology (107) ensures secure co-ownership revolutionizing advertising within social networks.
In one embodiment, a company initiates a process of partnership by identifying potential influencers or content creators based on their follower demographics and content relevance to the company. In one embodiment, a company establishes partnership with a selected influencer and negotiates collaboration terms, including NFT co-ownership and revenue sharing.
Moreover, the system (100) comprises a collaborative NFT Creation Module (103) wherein the brands and influencers work together to design NFTs that incorporate multimedia content related to the brand. This module ensures the collaborative creation of compelling NFT assets.
Furthermore, the system (100) comprises Advertisement Display Module (104), accessible to the influencer's network, enabling users to view, engage with, and potentially acquire the NFTs.
In addition, the system (100) comprises a revenue generation module (105) wherein users within the influencer's network interested in the NFTs can purchase or trade them using digital currencies, leading to revenue generation from NFT transactions.
Further, the system (100) comprises a revenue distribution module (106) wherein revenue generated from NFT transactions is distributed among the influencer and the online social network platform in a fair and predetermined manner, incentivizing continued collaboration.
Blockchain Technology (107) underpins the entire system (100), ensuring secure co-ownership and trading of NFTs thereby enhancing the transparency, immutability, and security within the NFT-based advertising ecosystem.
There are several advantages of the present invention including efficiently introduction of a collaborative non-fungible token advertising system within the realm of online social networks. By enabling companies to directly partner with content creators or influencers, the invention establishes a direct channel for delivering tailored and engaging advertisements to influencer networks. This approach leverages the influencers' credibility and reach to amplify the impact of advertisements, fostering a sense of authenticity and relevance that is often missing in traditional advertising methods.
Moreover, another advantage of the present invention is the partnership between brands and influencers that creates a shared interest in the success of the advertising campaign. This incentivizes both parties to craft compelling and high-quality content that resonates with the influencer's audience, ensuring that the advertisements are seamlessly integrated into the user experience.
In conclusion, the invention represents a pioneering response to the shortcomings of existing advertising practices. By harnessing the power of collaborative non-fungible token advertising within online social networks, it bridges the gap between brands, influencers, and consumers, ushering in a new era of engaging, impactful, and effective advertising strategies.
This application claims priority from U.S. provisional application Ser. No. 63/400,042 filed on 22 Aug. 2022 entitled “METHODS AND SYSTEMS OF ONLINE SOCIAL NETWORKING”, the entirety of which is herein incorporated by reference.
| Number | Date | Country | |
|---|---|---|---|
| 63400042 | Aug 2022 | US |
