How blockchain technology can monetize users' attention
from Adam | February 19, 2021
Attention is a limited resource. Each of us has only so much attention to offer that our time is valuable to us. Outside of the workplace, however, our attention is seldom rewarded with cash. On social media, game sites and platforms for the provision of content in all shapes and sizes, our "payment" takes the form of knowledge or entertainment.
In this model, the creator offers content, the consumer exchanges attention, and in most cases everything is paid for with advertising. What if human attention could be directly offset and both consumers and creators could win?
This idea of an “attention economy” is nothing new. The idea was first proposed in 1969 by Herbert A. Simon, who must certainly have been ahead of his time. Describing attention as an economic force, he said, “If we now speak of an information-rich world, we can analogously expect that information-richness means a lack of something else – a scarcity of what information uses up. What information is consuming is pretty obvious: it is consuming the attention of its recipients. An abundance of information therefore leads to a poverty of attention and the need to efficiently distribute that attention to the abundance of information sources that may consume it. "
Thanks to Gather, the attention economy is now set for an upgrade of the 21st century. With Gather's cloud computing technology, visitors to a website (such as a gaming platform or streaming site) can do a little more than grab their attention. When visiting a Gather-enabled website, the user is first asked if he would like to register for the Gather network. When they do, the free computing power of their system becomes gather to be used for a range of easy-to-monetize applications.
One such use case could be mining Gather's own home currency, GTH, but there are a variety of other uses for this resource. Cloud computing is a growth area where the market size of the global cloud computing industry is forecast to increase from $ 371.4 billion in 2020 to $ 832.1 billion in 2025. The global demand for computing power is massive and interest in this sector continues to grow.
By combining user attention and computing power, content creators can tap a highly lucrative market with the benefits of scaling for the sites that excite users the most. Compared to monetization through advertising, Gather's profitability improves with usage time. For example, a 30-minute session on a gather-enabled site can be 20 times more profitable to the owner than advertising revenue, and 40 times more profitable for a one-hour session. This is because the number of ads a website can deliver to its users in one visit is limited, while Gather can work unobtrusively at all times.
Such an impressive and scalable revenue model could explain why Gather has already attracted more than 350 online companies to its cloud computing program, including a $ 4 billion mega-company. The company has also been backed by a few big VC players, including Bitscale Capital, LD Capital, TRG Capital, and Master Ventures.
With the lockdown creating even more reasons for people to look for ways to spend their time, Gather's monetizable cloud computing model certainly deserves more attention.