Attention Economy as the Next Stage of Internet Evolution. LetItPlay Project Review
Every second various data is transmitted all over our planet with an incredible speed. Mankind is going deeper and deeper into information reality and is not likely to change the course. This cyber jungle is full of fierce and constant battles for the most indispensable resource — attention.
…in an information-rich world, the wealth of information means a dearth of something else: a scarcity of whatever it is that information consumes. What information consumes is rather obvious: it consumes the attention of its recipients.
- Herbert Alexander Simon, winner of the Nobel Prize in Economics.
To summarize, attention can ground an economy because it is a fundamental human desire and is intrinsically, unavoidably scarce.
- Michael H. Goldhaber, author of ‘The Attention Economy and the Net’ article’ .
Every day the Internet gives us hundreds times more info than we can consume. Consequently, we tend to choose more actual and quality content. It creates sound competition between its producers which fight for our attention. In future the amount of created content will surely rise, so will rise the value of users’ attention. We’re now at the dawn of attention economy era.
And though the dawn is only starting, attention economy is already everywhere — in any place where info producers and info consumers can possibly exist. It’s the environment which gave birth to such phenomena as hype, content marketing, personal brands. To be able to cause the interest of both the mass public and a sophisticated user is a primary skill of Attention Economy Master.
The infosphere is much alike the welcoming fair where every trader is eager to attract visitors. News portals, social networks, humor content aggregators, video blogs, educational channels, Internet cinema and libraries — any fair visitor scarcely knows where to look, with such an embarrassment of riches. One needs his whole life (and a little more) to learn and consume all of this content. Happily, we have not only the eyes but a couple of ears, too.
Richard Lanham, the author of ‘The Economics of Attention. Style and Substance in the Age of Information’ book, claims that lately text has become the largest monopolist of attention. Overall majority of the content produced today is really adapted for visual perception. This is reasonable, as most people are visuals, still this makes impossible combining internet surfing with any other activities.
Along with that, even in the 80’s scientists from Northwestern University of the US stated that, as to their investigations, human brain is able to perceive a spoken word for 140 milliseconds. In the meanwhile, perception of a printed word takes more, 180 milliseconds. Moreover, audio perception can last longer than visual one for an average person.
All of this comes with a question: how can we give users an opportunity to perceive information at a time with other activities? The solution is exactly in a small part of the content which is represented by audio format.
Nowadays the audio content is mostly represented by audiobooks, podcasts, and audio guides. LetItPlay platform is a way to develop a huge unused potential of audio attention while creating an audio layer of the Internet. Almost any text content can be converted into audio format without losing its sense. Unlike reading a book, listening to audio can be compatible with driving a car, various activities at work, doing sports or housework, travelling, etc.
The concept of LetItPlay blockchain is based on attention economy, as Steem, but taking into account audio format potential. It assumes rewarding content creators for their skills in attracting users: likes, reposts, comments, number of auditions. LetItPlay is an ecosystem uniting content producers, its distributors, service-providers, and advertisers. With its help bloggers, art figures, experts, and publicists will be capable to do what they most like and get profit from this.
LetItPlay products are not limited with only an app (and a web version in near future), but also there is a compact size widget easily embeddable to any site. It helps any resource visitor instantly get access to portal audio version.
Youngsters can use the platform for fun and education; for businessmen LetItPlay is an essential source of news without losing a minute of precious time; people busy with crafts, sports or housework will be able to do two things simultaneously; and visually impaired people will get access to all the info they were deprived of. LetItPlay is the answer to evolutionary changes of the media sphere and a step towards Attention Economy.
Contact us at email@example.com and we will help you in creating your own layer of the Internet!
Official website of the LetItPlay project — letitplay.io
Originally published at steemit.com on March 12, 2018.