Exploring the Digital Human Economy: How NFT Changes Business Models

Author: Max.S

In today's digital economy era, emerging technologies such as NFT and AIGC are changing the way of brand marketing. **NFT (Non-Fungible Token), as a representative of digital ownership, has become a trading standard for digital goods such as digital artwork and virtual game props. AIGC (Artificial Intelligence Generated Content) can help companies achieve more efficient, innovative and personalized content creation and promotion in digital marketing. **So, when NFT and AIGC are fused together, what interesting chemical reactions can they bring? This article will explore how the two can promote the innovation and development of brand marketing in the era of digital economy.

AIGC+brand marketing=digital human economy

The digital human economy is a new economic model, which converts human behavior, language, image and other elements into digital forms through digital technology, and realizes the duplication and reproduction of human beings in the digital world to achieve the purpose of creating value. The core of the digital human economy is the digital human. A digital human is a personified digital image developed based on artificial intelligence technology, which can simulate human behavior, language, expression, voice, etc., and can realize the interaction between human and the digital world.

Applying the digital human economy to the field of brand marketing can achieve 24-hour live broadcast without time and space constraints. Traditional anchors have a relatively fixed schedule, but digital people can live broadcast around the clock, quickly improving brand exposure and marketing effects. However, no matter how good a digital person is, it cannot completely replace the need for a real anchor to interact with potential customers. Therefore, the data of online live broadcast can become an important basis for companies to choose an anchor, and better arrange lines according to the characteristics of their products and the personality of the anchor. The following activities and exhibitions can achieve twice the result with half the effort.

The classic "famous quote" in the advertising industry: I know that at least half of the advertising dollars are wasted but I don't know which half!

**The high cost of advertising and feedback lag are important incentives for the development of the digital human economy. **In the digital human economy, businesses can use avatars or digital avatars to represent their brands or products. These digital avatars can be displayed and promoted on various digital platforms, such as social media, games, virtual reality and augmented reality, etc. By using digital personas, or avatars, businesses can create more personal and interactive digital experiences for their brands and products, reach more consumers, and rely less on traditional advertising.

Another way businesses can reduce advertising costs is through social media and user-generated content (UGC) marketing strategies. Enterprises can interact with consumers through social media accounts or online communities related to digital characters or images, and encourage them to share UGC related to digital images. This UGC marketing strategy can help businesses save on advertising costs while increasing brand awareness and user engagement.

Digital humans can also use artificial intelligence technology to analyze large amounts of user data and feedback to help companies identify and analyze patterns and trends in advertising performance data. Brands can adjust strategies and products in a timely manner based on these feedbacks, and quickly adapt to market needs and changes.

We want to build better "wheels"

I remember that when I first entered the blockchain industry, there was a popular question: should we reinvent a wheel or build a better wheel. Obviously, NFT already has an answer to this question. Facts tell us that if NFT is issued out of thin air, even a world-renowned company like Porsche cannot ensure user acceptance. If NFT only has the meaning of hype, it will inevitably usher in high pressure of supervision. After a long time, the public will think that NFT is an IQ tax. The premium generated through continuous changing hands is just a flash in the pan, and it will definitely not be the path for the healthy development of NFT.

Let NFT return to the original intention

In the digital human economy, let's take a look at what kind of chemical reaction will be produced after joining NFT. The essence of NFT is that the pass is a smart contract. Why don't we let it return to the original intention-smart contract. Enterprises value the anchor's ability to bring goods, but they cannot quickly understand the compatibility between the anchor and their own products when they cooperate for the first time. Quick trial and error and finally finalizing the right candidate are the key for enterprises to carry out precise marketing in the next round of e-commerce wars.

**In the scenario of cooperation between enterprises and anchors, NFT can be used as an ideal tool to iterate the traditional contract process. **Enterprises can use the anchor's ability to bring goods as a digital asset. The characteristic of NFT itself is that it can record the ownership and transaction history of digital assets, which brings more transparency and trust to the cooperation between the anchor and the enterprise. According to the "People's Court Online Litigation Rules" issued by the Supreme People's Court on June 17, 2021, electronic materials (including electronic data stored through blockchain technology) can be legally determined to be authentic, legal and relevant after proof and cross-examination. Therefore, the data on the chain has laws to follow.

**Returning to the contract itself, both employers and employees can set relevant cooperation terms and conditions in NFT. **Anchors and enterprises can automatically execute these terms and conditions through smart contracts, so as to achieve rapid trial and error and precise marketing. In addition, NFT can also be divided and transferred to provide more flexibility and choices for broadcasters and enterprises.

Suppose a company wants to cooperate with an anchor to promote its products, and the anchor’s delivery ability is converted into NFT, and the terms and conditions of cooperation are set. For example, the anchor and its digital person need to introduce the company’s products to its fans within a certain period of time, and reach a certain sales volume. MCN can assist the host to write these terms and conditions into smart contracts and embed them in NFT. Once the business accepts the cooperation offer and mints the NFT, the smart contract will automatically enforce the cooperation terms and conditions. For example, if the anchor reaches the sales requirement within the specified time, the smart contract will automatically issue a certain amount of rewards to the anchor. In addition, companies can also inject a certain amount of preferential quotas into NFT, and anchors can freely split these quotas and distribute them to fans to promote sales while promoting. After joining the management of NFT smart contracts, enterprises can more accurately evaluate and select suitable anchors, and can also quickly trial and error and optimize promotion strategies to improve marketing effects and sales.

In this article, we explore the application of NFT in real-world scenarios. With the increasing maturity of blockchain technology, NFT, as an emerging asset form, is playing an increasingly important role in the digital world. From digital artwork to virtual land, NFT provides a more flexible, secure and decentralized value carrier for the digital economy. Through the reconstruction of the traditional membership system, NFT provides a more transparent and sustainable point management method, which is expected to reshape the interactive relationship between consumers and enterprises.