7 of the Top 10 Largest Retailers in the World, 9 of the Top 10 Convenience Retailers, and 1/3 of Fortune 500 Brands Trust Engage3 to Power their Pricing and Market Intelligence "It has been a ...

Engage3 Elevates Adi Gulati, MBA to CFO as Company Continues its Global Expansion

US-based firm 'Engage3 powered by Dexi' which helps retailers and brands track and optimize their 'Price Image', has promoted Adi Gulati to the role of Chief Financial Officer. Engage3's Price Image Management suite uses data science and proprietary machine learning to identify and optimize the items with the greatest influence on customers' price perception,

New CFO for 'Price Image' Specialist Engage3

The Davis-based company anticipates 'monster growth' through the early part of next year, and investors are putting up more capital.

Davis-based Engage3 raises $7 million follow-on round of financing for growth

Festival Foods has continued building its tech stack with the Thursday announcement that the grocer is expanding its partnership with price image optimization tech firm Engage3 Powered by Dexi. The De Pere, Wisconsin-based grocery chain, which operates 40 ...

Festival Foods continues building its tech arsenal as it scales up

Award-winning Wisconsin Grocery Retailer Debuts Customer Perception-Based Price Optimization with Engage3's Price Image Optimization Suite Engage3 Powered By Dexi, which helps retailers and brands profitably grow revenue and drive store trips by tracking and optimizing their Price Image,

Festival Foods Pairs AI-Powered Price Optimization With Omnichannel Competitive Intelligence

DAVIS, Calif., Aug. 31, 2023 /PRNewswire-PRWeb/ -- Engage3 Powered By Dexi, which helps retailers and brands profitably grow revenue and drive store trips by tracking and optimizing their Price ...

Festival Foods Pairs AI-Powered Price Optimization With Omnichannel Competitive Intelligence in Expanded Partnership with Engage3

Aug. 17, 2023 /PRNewswire-PRWeb/ -- This week, Engage3 powered by Dexi, which helps retailers and brands profitably grow revenue and drive store trips by tracking and optimizing their Price Image ...

Engage3 Recognized in Inc. Magazine's List of Fastest Growing Companies for 7th Year in a Row

DAVIS, CA - Engage3 continues to build up its reputation, announcing its seventh year in a row of being listed on Inc. Magazine’s fastest growing companies list. “It’s a testament to the commitment of our team, the strength of our customer ...

Engage3 Recognized in Inc. Magazine’s List of Fastest Growing Companies; Edris Bemanian

Engage3

engage3

HackerNoon Reporter: Please tell us briefly about your background. I’ve worked with, for, in, and around start-ups my whole life. As it turns out, I’ve unintentionally found myself at the intersection between entrepreneurship and retail for my last 3 gigs. More recently, I’ve been a part of growing the team at Engage3 for the last 8 years, and I wouldn’t have it any other way. What's your startup called? And in a sentence or two, what does it do? Engage3 will transform the way that products are bought and sold by bringing human values into pricing decisions, creating positive outcomes for consumers, retailers, and brands alike. Today, we help retailers and brands profitably grow revenue and drive store trips by tracking and optimizing their price image. What is the origin story? Our two founders, Ken & Tim Ouimet, grew up collecting pricing data in their parent's company, Comparative Prices International. So before they were 10 years old, they traveled across Canada collecting data from stores and learning the business. While working on his Ph.D. in Theoretical Physics, Ken realized that he could apply the models he was learning about to retail pricing. So he and Tim (who had sold his successful pool cleaning business to help fund the new start-up) founded Khimetrics. Khimetrics was the very first retail price optimization company in the world. They were incredibly successful and were able to consistently drive 1% of sales to the bottom line, doubling the net profits of their retail customers. They were acquired by SAP in 2006. After a few years with SAP, they left and founded Engage3 to create a pricing platform that would unlock transformative business models via personalized pricing, which brings us to where we are today! What do you love about your team, and why are you the ones to solve this problem? I don’t think you will find a more committed team out there. Our team has been to hell and back as we underwent an incredibly challenging pivot back in 2016 from a B2C to a B2B business model. As a result, our team built a lot of grit. And that grit has persevered even as we’ve grown. Although we’ve been recognized by Inc. Magazine as one of their fastest-growing companies five times, our team has never let that go to their heads. We’re the ones to solve this problem because we have incredibly deep domain expertise, we are committed to an innovation roadmap and have products and patents that reflect this, and we are already working with many of the most innovative companies and investors in the world, which means we get fantastic collaboration and input on our roadmap. If you weren’t building your startup, what would you be doing? If I wasn’t working on another start-up, I would most likely be working on getting a fantasy novel manuscript I finished with my friends in college published. It needs a lot of work :) At the moment, how do you measure success? What are your core metrics? The lifetime value of our customers. We have an incredibly high retention rate, and our customers are growing with us, so it’s a key metric for our team and our investors. What’s most exciting about your traction to date? I’ve been impressed by how effectively our team has been able to solve incredibly complex data science problems. It’s led to us working with 6 of the top 10 retailers in North America and a fantastic growth rate over the last 5 years. And we have no reason to slow down now. What technologies are you currently most excited about, and most worried about? And why? We are just scratching the surface of what is possible. From an R&D perspective, we’re further incorporating the use of deep nets, reinforcement learning, NLP, and sampling theory, etc., into our products to solve problems like predicting inflation, reverse-engineering pricing strategies, understanding psychological thresholds around different prices, etc. It really speaks to the econ nerd in me. What drew you to get published on HackerNoon? What do you like most about our platform? It’s a fresh take, approach, and style to the content. There are SO many sources out there of this information, and we’re all getting overloaded all the time. HackerNoon has figured out how to make the content fun & engaging vs. feeling like a job in and of itself. What advice would you give to the 21-year-old version of yourself? Focus, prioritize, block and tackle. Focus, prioritize, block and tackle. Focus, prioritize, block and tackle. I cannot say it enough. What is something surprising you've learned this year that your contemporaries would benefit from knowing? Asking for help does not make you weak or ineffective. Embrace the vulnerability, bring people in, and learn. Vote for Engage 3 as the . startup of the year - Davis, US

Startup Interview with Edris Bemanian, Engage3 CEO

Startups of The Year 2023 Winners: North America 

240 Stories To Learn About Startups Of The Year

Let's learn about via these 64 free stories. They are ordered by most time reading created on HackerNoon. Visit the to find the most read stories about any technology. Retail Technology /Learn Repo 1. How E-Commerce is Getting Smarter with Artificial Intelligence Artificial Intelligence (A.I.) is the future. 2. Startup Interview with Edris Bemanian, Engage3 CEO Engage3 will transform the way that products are bought and sold by bringing human values into pricing decisions. 3. Why Retail Stores Are More Vulnerable Than Ever to Cybercrime As more security features rely on the internet, the potential for cyber exploits increases, though this isn't the only reason retail stores are susceptible. 4. AI-Powered Predictive Merchandising is Shaping the Future of Shopping As long as consumers choose a hybrid shopping model, merchandising will keep driving sales. 5. How Retail Tech Startups are Providing E-commerce Brands With a Competitive Advantage The rapid rise of retail tech has touched almost every part of shopping; from discovery apps like Yelp to Buy now pay later brands like Klarna and Afterpay. 6. Discover How IoT is Transforming the Retail Industry IoT enables data sharing among all the devices in the network, irrespective of their medium of connectivity. 7. Automate Pricing With a Good Price Optimizer Software Setting product prices is a complex process, involving so many factors. Using good price optimization solutions helps make this task easier and more effective. 8. A Success Story for Asian Retailers Acme Inc. (Operating Department Store in Singapore) 9. How India Revolutionised its Digital Payment System UPI has revolutionised the way Indians used to look at digital payment systems. In four years, it has surpassed Visa and MasterCard. 10. Automation & Fashion on Demand: Producing as Ordered Some brands are choosing to go back in time by using a made-to-order business model. Why aren't other brands making the leap? 11. Shelf Edge Technology: Digital Price Tags Using Renewable Energy Sustainable, cost-effective, and consumer-friendly: digital price tags are entering the fashion industry through shelf-edge technology. 12. How to Build Your Own Automated Self Checkout Service Brick-n-mortar retailers, learn how to implement an AI-powered autonomous checkout from smart vending machines and kiosks to full store automation. 13. BIG ALICE is Revolutionizing Retail via 3D Full-Body Scanners BIG ALICE is a scanning studio that can provide 3D renderings and accurate measurements of any human or object. 14. A Complete Guide To SKU Management For Retailers SKU management is the process of creating, organizing, and perfecting an alphanumeric SKU system for the items in your inventory. SKUs give inventory details. 15. The Digital Shopper: 4 Retail Tech Trends That Will Stay Post-Pandemic Retailers are perfectly poised to adapt with ease as we move into a post-pandemic world, having experienced such a necessary yet dizzying acceleration in digital transformations over the past year. 16. Smart Alternatives to Sampling Campaigns in Supermarkets During COVID-19 Find out how you can replace sampling campaigns during the COVID-19 pandemic to be safe and still engage with customers. 17. How Can Enterprises Utilize Edge Computer Vision? Business applications of computer vision technology for Enterprises, retail analytics, edge computing, intrusion detection and monitoring 18. Welcome to California, Where Your Face Is Your Credit Card Whether you are craving a burger or Chinese food tonight, there is no need to reach for your wallet or phone to buy it. Food vendors in California are embracing facial recognition — technology that lets you pay with a smile. 19. Top 7 Online Certificate Courses for Retail Pros We all know how essential it is for any professional to keep upgrading their skills to stay on top of their game. I've decided to compile a list of useful online courses (both free and paid) to help you further your career if you are a pricing, brand or category manager in need of mastering the power of technology. 20. Zoey The AI: A Friend to “Corona Brides” We experienced digital transformation on an unprecedented scale in 2020. Here’s how artificial intelligence is transforming online shopping. 21. Everything You Must Know About the Business Model of Walmart: World's Largest Retail Giant Let’s learn about the business model of Walmart. How did the world's largest retailer provide Everyday Low Prices yet earn $ 572B as revenue for 2022? Read on. 22. 40% Americans Do Not Know What Affects Their Credit Score Your customers’ credit score is one of the most important numbers of their financial lives. This three-digit number is the most used credit scoring model by lenders for evaluating a borrower's creditworthiness or the likelihood that they’ll repay the money. 23. Innovative Retail Technology For Brick and Mortar Shops Find out the Top 5 Retail Technologies brick and mortar shops should adopt in 2021 and how VR, robots, and other retail tech can help them. 24. How Artificial Intelligence Can Be Beneficial in the Retail Sector A look at how artificial intelligence can be beneficial in the retail sector 25. Bricks-and-Clicks, or Why Omnichannel Is the Future of Retail In-store and online retail have always stood in passive opposition to each other, but in the first quarter of 2019 this confrontation took an especially dramatic turn. Multiple mass media outlets published articles with agitated headlines like “It's Official: "Clicks" Have Topped "Bricks" (CBS News) or “Online Shopping Overtakes a Major Part of Retail for the First Time Ever” (CNBC), which proclaimed the final surrender of bricks to clicks. 26. How AI is Changing the Retail Industry Data is the crucial information businesses need to remain profitable. AI can bridge the gap between unused data and those profits in the retail sector. 27. The Retail Evolution: Customers Demand Enhancements to the Shopping Experience Andreas Hassellof, Founder and CEO of Ombori, explores how changing customer behaviors impact retail, and drive retail technology innovation. 28. 5 Trends Changing Retail Enterprise Resource Planning in 2021 What are the main ERP trends in retail? Feel free to explore this guide to keep up with the best updates to potentially implement them into your business. 29. 8 Ways ERP Systems Can Maximize the Profits of Retail Businesses Large retailers use ERP software to make sure their operations are running smoothly. Such tools are designed to address the problems faced by retailers today. 30. The Future of Retail: The Convergence of Physical and Online Stores Explore the future of retail and the merging of physical and online shopping experiences. Discover the latest trends and technologies shaping the way we shop. 31. 4 Reasons Why Your Business Should Accept Mobile Payments In an age where our daily lives are interconnected to technological advancement, it may be time to consider using a mobile device to make payments while on the go. We live in a world operating on ease and immediate response, so it may be time to convert towards this new, innovative option. 32. Augmented Geomarketing: The Start of a New Era or Just an Evolution? Why the Augmented Geomarketing shall change the real sector and its business? 33. What Makes "Good" Fashion Image Tagging Fashion image tagging is infamously tedious for eCommerce. But, how can AI help create accurate tags--and go a step beyond in understanding fashion information? 34. Technology Should Enable Craftsmen To Go Back To Doing What They Do Best The pandemic (you know the one) has disrupted stores and restaurants in a way no one could have expected at the start of 2020. Health scare, mass unemployment, e-commerce, Amazon competition, ballooning debt… we didn’t start the fire, it was always burning… but now there are ambers everywhere and we’ve got to get to work to save the good china. 35. How Technology Is Enabling Traditional Retailers To Adapt To A New Normal Technology has advanced rapidly when you look at how far we've come in the last decade or two, even when comparing the mobile phones of 2000 versus today. It's changed the world. Something else changing the world is the COVID-19 pandemic. As we get used to our new normal, technology will play a major role. For retailers, technology will be the most important tool in their journey to survive. 36. A World without Digital Technologies But what if digital technologies never existed? What would the world be like? 37. Why the Gap Needs Kanye West Can Kanye West help the Gap dig itself out of deep hole? 38. AI in the Retail Industry: 10 Computer Vision Startups to Follow in 2021 AI-enhanced retail holds the promise to eliminate operational inefficiencies and provide shoppers with frictionless in-store experiences. 39. What Chinese Retail Trends Tell Us About the Future of E-Commerce Amazon, mobile, A.I… there are dozens of new threats, technologies and processes a strategy executive must keep in mind to stay ahead of the curve when faced with skydiving sales. 40. Geofencing Marketing: Beginners Guide Have you considered the idea of using geofencing marketing in your business strategy?  It is one of the best marketing tactics for those retailer stores businesses. Geofencing helps you reach out to potential customers in your confined area. 41. The Retail CIO’s Guide to Mobile Device Management Strategy Are you in retail and planning to make mobile part of your strategy? Do you follow a bring-your-own-device (BYOD) policy and need to separate business and personal data on the same devices? If so, mobile device management (MDM) will become an important strategic consideration for your executive team. 42. NRF 2022: Technology That's Shaping Retail These technologies are expected to become commonplace within the retail industry within a matter of time. 43. New Research Paper May Indicate That Visa is Developing a Retail Blockchain Product Cryptology ePrint Archive has published a paper, entitled ‘LucidiTEE: Policy-compliant Fair Computing at Scale’, credited to a trio of staff members working for Visa and Visa Research by the names of Rohit Sinha, Sivanarayana Gaddam, and Ranjit Kumaresan. 44. Busting Financial Myths: "The Ignorant Retail Investor" If you Google "ignorant retail traders," you'll find mentions on the Financial Times, Seeking Alpha, Wired, Berkshire Money Management, The Street, and even The South China Morning Post. 45. Amidst COVID-19 Restrictions, How Can AI Help Retailers? COVID-19 has changed the world of retail almost overnight. Its impact on e-Commerce is creating challenges to online retailing, selling & services that no one has imagined in the first quarter of 2020-21. 46. How to Get Started with Amazon IVS and Amazon Personalize in Retail This blog will walk through a detailed example of how to configure and deploy live streaming and personalization into an ecommerce site. 47. How Artificial Intelligence Is Shaping The Retail Industry With 96% of Americans shopping online and the rise of AI lead cashier-less retail stores such as one of Amazon’s 15 Go stores, Artificial Intelligence (AI) has become a key element in the digitalization of in-store retail by personalizing the customer experience and creating a more engaged business-to-consumer interaction. For retail companies, AI creates an opportunity to bridge the gap between virtual and physical sales channels. 48. Ultimate Guide to Price Matching for Retailers Price matching might sound like the ultimate pricing strategy that your business should include after you hear about price match Walmart policy. It is true that many consumers put the price as their primary factor to consider when they purchase an item whether it is online or in-store. 49. Predicting Popularity of Retail Products Using AWS SageMaker, AWS Marketplace & AWS Data Exchange This blog is aimed at guiding users to understand how they can leverage AWS SageMaker, AWS Marketplace and AWS Data Exchange to deduce smarter decisions. 50. How To Use Technology To Enhance Your In-Store Marketing Strategy Robots, AI, and other tech are transforming retail experiences. Find out what technologies best suit your in-store marketing efforts and how you can use them. 51. Innovative Solutions That Will Change The Shopping Experience How can fashion brands enter the digital world using AI? Read my new interview with a maker of a highly-innovative technology that makes it a reality. 52. 5 Ways AI is Improving Supermarkets Follow the supermarket industry trends and take your existing retail software solutions to the next level with AI 53. The New Frontier of Price Optimization What would be the price of our product or service? This question has bothered businesses forever. Several pricing models have been spawned as a result. But the concept of price optimization is a fairly new one. At least to businesses that are not in the hospitality or airline sector. 54. Use Cases and Roll-Out Tips for Image Recognition in Retail Heavily shattered by the pandemic, the retail sector is on the lookout for innovation. 55. Blockchain will Disrupt the Shopping Industry: A 2020 market overview Times have changed, and businesses either need to change with them or die. Long gone are the days of niche brick-and-mortar stores, and as Millenials and GenZ consumers start to earn more money, the e-commerce market world needs to shift as well. In order to survive, stores became brands, enticing their customers to remain loyal and shop with them even when they could find better deals elsewhere. 56. An Introduction to Livestream Shopping The concept of live shopping goes back to the 80s and builds on the idea of video shopping. 57. The Problem(s) With Amazon GO 58. How to Offer Customers an Amazing Experience In-Store Find out how to offer an amazing customer experience from four top retail experts. Read their tips and try them out yourself. 59. Improve Monetization By Optimizing In-Store Analytics and Trendspotting Over the years analytics has created an important space for itself in the retail industry where it helps to bridge the gap between what retailers have to offer and what the customers want. 60. 7 Tech Trends Reshaping the Retail Industry What is the future of retail in the post-COVID-19 world? The 2021-reality trends show how technology and innovations help retailers face challenges. 61. 13 Retail Technologies That Could Help Brick-and-Mortar Businesses Learn about key retail technology trends that can help brick-and-mortar retailers sustain their businesses. Dive into the applications of innovative retail tech 62. Virtual Fitting Room Technologies To Boost Retail Sales in a Post COVID-19 World I hate shopping in brick and mortar stores. However, my interest in virtual shopping is not limited to the buyer experience only. With the MobiDev Data Science department, I’ve gained experience in working on AI technologies for virtual fitting room development. The goal of this article is to describe how these systems work from the inside. 63. Is Shopping In-Store An Experience Of The Past? Top retail experts share their knowledge and predictions on the state of in-store marketing in 2021. Check out their views on how COVID-19 affected brick and mo 64. How the Retail Industry is Implementing Machine Learning and Deep Learning Stores are changing. We see it happening before our eyes, even if we don’t always realize it. Little by little, they are becoming just one extra step in an increasingly complex customer journey. Thanks to digitalisation and retail automation, the store is no longer an end in itself, but a mean of serving the needs of the brand at large. The quality of the experience, a feeling of belonging and recognition, the comfort of the purchase… all these parameters now matter as much as sales per square meter, and must therefore submit themselves to the optimizations prescribed by Data Science and its “intelligent algorithms” (aka artificial Intelligence in the form of machine learning and deep learning). Thank you for checking out the 64 most read stories about Retail Technology on HackerNoon. to find the most read stories about any technology. Visit the /Learn Repo

64 Stories To Learn About Retail Technology

A new product should make people happy. After all, we are in the startup business to impact people's lives for the better. We look for opportunities in the market to provide solutions, fill a niche, and enhance the lives of everyday people. One of the key metrics of a successful product is the happiness factor–are users utilizing, benefitting, and most importantly enjoying the product you put out. An conducted by Change Sciences monitored the emotions of 8,000 people after they interacted with the top 250 websites in e-commerce, healthcare, travel, entertainment, and banking–in an effort to determine whether it’s possible to create happiness by design. online study Their answer? In short, yes. But the deeper insight is much more complex. Unfortunately, no one has invented a sure-fire design that guarantees a product will deliver happiness to its users, as happiness in and of itself is subjective, dynamic, and forever changing with the tides of time. Happiness is often a cosmic collaboration of a multitude of things, creating a positive experience for those who encounter it. It is a delicate balance. A gentle offering of small delights and higher purpose. And as someone who knows the industry like the back of my hand, I have figured out some simple ways to achieve all of this. As the founder of Humbleteam, a design agency that specializes in helping startups and enterprises design products with high success, I have seen my fair share of and error products attempting to exceed the happiness metric for their target audience. Working with over 50 startups, I have had time to analyze what precisely drives happiness in product designs and what falls short. classic startup mistakes After taking the time to distill this information into actionable steps, I am excited to share my findings with you in the hopes that startups continue to pursue a path of progress, innovations, and most of all, happiness. The 3 Most Important Factors In Designing Products For Happiness 1. Understand What Makes People Happy You might think that you can determine if your users are happy by taking in an overview perspective of your product, maybe they are using it regularly or they have not submitted any formal complaints–but the key here is to never assume anything! How do you know if your audience is happy unless you ask them directly? Acquiring direct customer feedback will not only provide a more direct throughline from the product to the happiness metric, but it will also make your life so much easier when you ask yourself big questions like, what’s our next step? 2. Establish a Trusted Channel of Communication To best understand what makes your users happy, establishing a strong channel of communication is the top priority. In our modern digital world, sending out an email is just not as effective as it used to be. People associate emails with work and are resentful to deal with them outside working hours. Utilizing a text messenger such as WhatsApp is casual, lightweight, and fast. Forms of communication like this tend to be seen as friendlier and are better known to receive direct feedback than traditional email blasts. Once you have opened that trusted communication channel, continuing the conversation with customers who are willing to have a dialogue with you is a two-fold component. And how do you open a line of communication and retain those willing to continue to provide feedback? You provide them with a personal experience and make it easy for them to engage. 3. Make The Feedback Experience Personal What is the simplest and most effective way to give a personal feedback experience? If you are the founder of your startup, you get on the phone and you communicate with your customers directly. You’d be amazed at how much people appreciate the personal touch of speaking directly to the person who created the product. This builds trust, opens a more long-lasting line of communication, and allows you to get the most accurate feedback possible. Messaging Is Fast and Easy When using a casual communication channel like WhatsApp, get the most out of your interaction by sending screenshots of products, deep-diving into features, and encouraging the customers to chat in detail about their experiences. Because texting is an instant form of communication, you can receive replies within hours, maybe even minutes instead of days as with emailing. Discord has quickly become a favorite form of fast communication between companies and their customers, especially if you have a B2C product, it is a fantastic way to receive easy feedback in a centralized space. Remember to keep your audience in mind when choosing the modality of communication. If your target audience is 50+ years old and likely not the most advanced when it comes to the newest form of communications, a space like Discord would not be the best channel to use. But for a group of gamers between the ages of 18-35 years, it could be perfect. Be Mindful of Your Collected Data Your messenger contacts and the feedback you receive from them are not 100% representative of your target market as a whole. Be mindful that these conversations are only a slice of the pie and can influence decisions rather than create concrete evidence. If the consensus with the customers you talk to on WhatsApp is that your product has a feature that is difficult to understand, then likely that is an accurate representation of your broader customer experience, without going into the detailed specifics. Select the Feature That Is Low In Cost but High In Impact It may be tempting to focus your efforts on launching new features for testing that have been scrutinized and agonized over as the next “perfect” version of your product. But keep in mind that in doing that you miss many opportunities to test and receive feedback in incremental but incredibly useful ways. The tendency is to create a production process of releasing new versions or testing features that encompass all feedback, is often a bit slower to roll out, and attempts to completely improve on the original. Reset this thought process. Instead, adopt a low-cost and high-impact testing process, and couple that with a maximum time to market of 14 days. If you were once only putting out new features every month, you have now effectively doubled your feedback, your insights, and your ability to adapt and grow as a product. Many small steps can put you on a more successful trajectory than one calculated giant leap. Happiness isn’t a formula, as we now know, and so providing as many opportunities for your product to provide small delights and higher purpose, gives you more chances to land on the perfect combination that solidifies your customer's true happiness. Test as Much as Possible with a Short Time to Market I cannot encourage enough just how important maintaining a short deadline is when testing your products. Sticking to deadlines that are less than three weeks (and optimally two weeks) effectively doubles your production rate for the year. You are working in a sprint to acquire the most amount of information in the shortest amount of time, and to do that you have to amp up your production rates and focus on the features that matter. These aggressive deadlines help you to filter out the need-to-have from the nice-to-have features. Specificity is a powerful tool. When you are specific and focus on the need-to-have aspects of your product, you have more direct insights into the type of feedback you need from your customers. While it might be nice to get an overall impression of your logo, understanding if the payment option within your design is causing a pain-point for your users and preventing them from following through with transactions, is a need-to-know feature. By limiting your time to market deadline, you prevent yourself from having too much downtime to mull over unnecessary details and get distracted by less critical aspects of your product. A tight schedule keeps you focused and driven, and your insights at the end of your testing sprints will provide a wealth of knowledge to help you successfully move forward along your startup's roadmap. Bonus Tip: Avoid Cognitive Overload Another helpful tip to keep in mind is to avoid cognitive overload when it comes to considering your customer's experience with your product. If your product elicits this cognitive overload response the customer will be spending too much time processing the product to take in the core purpose. This tip ties into the 3 previous examples as follows: Because the first impressions of your product will be design-related, do not change up the minute details of your design every single time that you offer a new feature and trial experiment. Leave those aspects for when you have solidified your most realized product and you are ready to launch the final version. The aim in these stages is customer feedback and emotional impact, not perfect product design. 94% People will often remember negative experiences over positive ones. So if they feel inauthenticity from your product, or more importantly from the way that you receive feedback about the product, their journey will likely not change and that will be the anchor you’ll have to fight against for the rest of your process. Customer service can change everything (for better or worse) about a user experience. Don’t forget to keep things simple. states that the more complexity and options you present your users with, the longer it’ll take them to reach a decision. This feels like common sense but is often neglected to add “more” to a product all at once. People aren’t obligated to stick with your product. Overload them with too much, and they might find it better to move on. While you are aiming to keep testing on a quick turnaround, don’t forget to be efficient, clear, and concise. Sticking to a low-cost and high-impact feature helps avoid this dilemma. Hick’s law The Secret to Happiness is In Your Hands In an ideal world, every product that aims to fill a need in the market would bring happiness to its users if that product is well crafted and intentional. But the truth is that even if we try our hardest to produce a product with practical features, high functionality, and unique design, we still might not hit the nail on the head when it comes to designing customer happiness. The best way for us to avoid any pitfalls when it comes to customer happiness is to talk to people. Connecting with your users, and learning more about your target market is the best insight you can find to help you continue to design products that bring that perfect combination of small delights and higher purpose. Because the more you connect with your customers, the more they will connect with your product and the more happiness they will feel. Happiness of every kind begins with a connection. We thrive in community, we want to feel seen and be heard, and we want the things we invest in to reflect those values. The more you understand how your product can influence these aspects of human happiness, the more likely you will be able to continue to evolve your product to hit the mark and generate long-lasting, happy customers.

How to Design Products For Happiness in 2022

These are the 100+ Companies Hiring Data Scientists Now

Guess what? Video advertising is here, and it’s here to stay. In the recent years, the landscape of video marketing has skyrocketed. This year, however, has transformed promotional video from a simple marketing tactic to a full-blown business strategy. What makes videos so increasingly efficient in advertisements? On one hand, video can show your audience, instead of just “tell” them what you are all about. On the other hand, customers want to see products in action. Let’s look at some video stats: will be video by 2019. 80% of all internet traffic have started using video content marketing, where as 82% of them view video marketing as an important part of their marketing strategy. 63% of businesses from brands, more than any other type of content. 50% of consumers want to see videos say that they have shared a brand’s video. 70% of consumers say the video has improved their conversion rate. 72% of businesses No doubt, online video creation has become the most important tool in the marketing arsenal today**.** When using right, it is the key ingredient to your growing business, increasing customer base and keeping your clientele near while turning them into brand ambassadors. How? Keep reading: video marketing 9 Ways You Can Use Online Video Creation to Attract Loyal Customers and Keep Them Coming Back 1. Create High Quality Video Content The success rate of your promotional video clip depends largely upon the quality of your video. Truth be told, a cringe-worthy video can be successful too — by going viral and getting the world to chuckle at you. A grainy, darkly lit vs. acrisp and professional video will make or break your company’s first impression with potential new customers. Not using high-quality video will stand out, and most likely turn people away from your business. Pro tip: You don’t have to use expensive videographers and editors. There are budget friendly services online, where you can use premium footage from professional photographers or edit your own video on your own, add text, choose licensed music, own all copyrights. One service like this is (the company I work for). Promo See, for example, this short video ad, created by Copywriting Agency, Ad Zombies. This video was one of their best performing ads. It shows that high quality video can be created with low cost video creation tools like Promo. 2. Encourage Social Sharing and Engagement Sharing your videos on social media platforms is the perfect opportunity to connect with your audience on their own turf. On social platforms they don’t have to come looking for your content, it could just show up in their feed, they watch it, they might follow you for it. Now — how do you get them to share the video with their friends? Upload your videos natively. For example, Facebook intensely promotes this kind of video format. Facebook native videos have a than other video formats. Native videos: 1055% higher share rate Most studies state, spend on social media is on a mobile device. If your video is not mobile, meaning square 1:1 format, it will not perform well. Another thing to remember — your video content should be visible on both an iPhone (640px wide) and a large monitor (1920px wide). Mobile-friendly: that over 50% the time consumers Make your headline and content compelling, anecdotal or relatable. This is what makes the audience’s heads turn and drive them to engage and share. Relatability: If you keep sharing and sharing, while not engaging with your audience you are missing your goal. On social media you can’t forget to be social yourself, respond to your fans, ask questions and encourage conversations. Look at it like dating — who wouldn’t lose interest in a one-sided convo? Engage: 3. Video in Email Campaigns An introductory email that includes a video receives an increase . Astounding number, that should be taken advantage of. There are various types of videos you can add to your emails, such as tutorials, previews of new arrivals/releases, behind the scenes clips, inspirational videos for a cause, explainers, interviews and so on. click-through rate of 96% Pro tip: Implement custom click tracking in your video embedded email, to determine how many people ended up watching it. A free and easy-to-use tool for this is an oldie but goodie, . Bit.ly 4. Keep it Short Recent Microsoft research revealed that people now have an — making it shorter than the attention span of a goldfish (at nine seconds). Eek! attention span of eight seconds What does this mean for your video editing? For quick branding and special announcements, videos 15 seconds and shorter work best. Videos longer than 15 seconds help tell more about your brand and product. Pro tip: Try to keep the videos from 6 seconds to a little over a minute. See this short video ad as an example for a great video that is engaging and delivering the message is a creative way: 5. Make Your Customers Smart Visual memory is king, which makes visual content a must and video is the best of all visual content. What you show your customers via video, they will remember much easier than reading through text, hence, they will know your product and they will know if and what they want from you. According to an by Emma, the human brain is highly visual and processes images 60,000 times faster than text. No question there, why video rules all! infographic See this video example by WalkMe, a digital adoption platform, that is using videos to share and promote their blog posts: 6. Personalized Video Messages Once a customer has crossed the threshold of buying your product, go that extra mile of sending a personalized thank you video message with an initiative to show you can be helpful to them in the future as well. 7. Consistency is Key You need to put out a lot of videos, consistently. With video templates, it’s simple and timesaving to make beautiful videos for your audience. To keep up with the consistency, use an editorial calendar to keep track of sharing your videos. 8. Optimize for Search Don’t forget to use keywords or key phrases to help audience find your videos on all social platforms and websites. Add relevant hashtags on Twitter and Instagram to boost search results. Good news? With Google having rolled out Carousel, you now have a fair chance at your video even if you are using uber-competitive keywords that normally make it difficult to rank on the first page, let alone get them to stay there. getting page one exposure, 9. Call-to-Action Your videos should always serve a purpose or an initiative — whether it’s to buy your product, share the video or visit your page. Whoever is viewing your video, should understand what you want them to do. Here’s an example of a fun to watch video ad with a very clear call-to-action at the end, by , a team collaboration platform: Monday.com Conclusion If you’re not video marketing, you don’t exist. Hashtag Fact. 2019 is approaching and we can surely say, online video is a game changer. However far along you are on the road of video marketing — whether you haven’t even started yet (in which case give it a go) or you’ve been doing it for a while, there is so much to absorb and learn on this topic. A lot of the process will be trial and error, to see what works best for your business and audience. The most important takeaway is, that the digital world we live in is not personal, which especially highlights how video marketing is the new way of personalizing the digital experience. HANDPICKED RELATED CONTENT: The Beginner’s Guide to Google’s Knowledge Graph 8 Inbound Marketing Strategies Your Startup Needs to Start Using Today Finally, after more than a decade of remote digital messages pushed into our social media feeds, we get to see a person’s face, talking directly at us! That’s the perfect space to really show your audience what’s great about your business, what good do you do, what makes you special. The more good your audience knows about you, the more they want to be around you. And that’s a WIN! Originally published at Shanebarker.com . About The Author is the Founder and CEO of and . You can connect with him on , , , and . Shane Barker Content Solutions Gifographics Twitter Facebook LinkedIn Instagram

9 Ways Videos Build Customer Loyalty and Retention

How to Use Color Psychology to Drive Engagement and Retention in UI Design

Authors:
(1) SIMONE CASALE-BRUNET, École Polytechnique Fédérale de Lausanne, Switzerland;
(2) MIRKO ZICHICHI, Universidad Politécnica de Madrid, Spain;
(3) LEE HUTCHINSON, WhaleAnalytica.com, Switzerland;
(4) MARCO MATTAVELLI, École Polytechnique Fédérale de Lausanne, Switzerland;
(5) STEFANO FERRETTI, University of Urbino “Carlo Bo”, Italy. Table of Links 1 Introduction 2 State of Art 3 Projects Selection and Data Collection 3.1 Blockchain data 3.2 Twitter data 4 Data Analysis and Results 4.1 Ethereum wallets and Twitter users and 4.2 The communities 4.3 Hashtags 4.4 The role of the social network community 5 Conclusions and References 5 CONCLUSIONS The NFT phenomenon is a topic that became mainstream during 2021 and has continued to receive increasing attention from early 2022 to the present. This blockchain-based technology has also come to the forefront thanks to projects such as BAYCs whose images have been purchased by celebrities and traded at very high prices as reported by several media. In this paper, we analyzed the phenomenon of NFTs, focusing on the class related to PFPs. We chose 18 projects based on our knowledge in the field and based on their importance in terms of volumes traded, users, and social activity. It was illustrated through analysis of social activity how the concept of social community is essential to ensure liquidity and value of PFP projects, i.e., used as social icons. The centrality and influence of the community related to BAYCs was demonstrated, that despite being second to CryptoPunks in terms of volumes traded, social activity is much higher and central to every other project in the industry. This work aimed to lay the groundwork for more in-depth future studies on understanding whether patterns and causality conditions may exist between elements such as the number of tweets, average price of a collection, Twitter users, and Ethereum wallet. REFERENCES [1] Oluwaseun Ajao, Jun Hong, and Weiru Liu. 2015. A survey of location inference techniques on Twitter. Journal of Information Science 41, 6 (2015), 855–864. https://doi.org/10.1177/0165551515602847 [2] Dune Analytics. 2022. rchen8: OpenSea Dashboard. Retrieved June 6, 2022 from https://dune.xyz/rchen8/opensea [3] Joseph Bonneau, Jonathan Anderson, Ross Anderson, and Frank Stajano. 2009. Eight friends are enough: social graph approximation via public listings. In Proceedings of the Second ACM EuroSys Workshop on Social Network Systems. 13–18. https://doi.org/10.1145/1578002.1578005 [4] Evan Brinckman, Andrey Kuehlkamp, Jarek Nabrzyski, and Ian J. Taylor. 2019. Techniques and Applications for Crawling, Ingesting and Analyzing Blockchain Data. In 2019 International Conference on Information and Communication Technology Convergence (ICTC). IEEE, 717–722. https: //doi.org/10.1109/ICTC46691.2019.8939746 [5] Pinar Caglayan and Zehra Ozkan. 2021. NFTs and copyright: challenges and opportunities. Journal of Intellectual Property Law& Practice 16, 10 (06 2021). https://doi.org/10.1093/jiplp/jpab104 [6] Umit Can and Bilal Alatas. 2019. A new direction in social network analysis: Online social network analysis problems and applications. Physica A: Statistical Mechanics and its Applications 535 (2019), 122372. https://doi.org/10.1016/j.physa.2019.122372 [7] Simone Casale-Brunet, Paolo Ribeca, Patrick Doyle, and Marco Mattavelli. 2021. Networks of Ethereum Non-Fungible Tokens: A Graph-Based Analysis of the ERC-721 Ecosystem. In IEEE Blockchain 2021, 06 - 08 December. https://doi.org/10.1109/Blockchain53845.2021.00033 [8] Joseph Coelho, Dawson D’almeida, Scott Coyne, Nathan Gilkerson, Katelyn Mills, and Praveen Madiraju. 2019. Social Media and Forecasting Stock Price Change. In 2019 IEEE 43rd Annual Computer Software and Applications Conference (COMPSAC), Vol. 2. 195–200. https://doi.org/10.1109/ COMPSAC.2019.10206 [9] CoinMarketCap. 2022. Ethereum historical data. Retrieved June 6, 2022 from https://coinmarketcap.com/currencies/ethereum/historical-data/ [10] Iain J Cruickshank and Kathleen M Carley. 2020. Characterizing communities of hashtag usage on twitter during the 2020 COVID-19 pandemic by multi-view clustering. Applied Network Science 5, 1 (2020), 1–40. https://doi.org/10.1007/s41109-020-00317-8 [11] Roberta De Michele, Stefano Ferretti, and Marco Furini. 2019. On helping broadcasters to promote tv-shows through hashtags. Multimedia Tools and Applications 78, 3 (2019), 3279–3296. https://doi.org/10.1007/s11042-018-6510-7 [12] Decrypt.co. 2022. Hot Ethereum NFT Platform LooksRare Is Rife With Wash Trading - And OK With It. Retrieved June 6, 2022 from https: //decrypt.co/90317/ethereum-nft-market-looksrare-wash-trading [13] Joshua Fair!eld. 2021. Tokenized: The Law of Non-Fungible Tokens and Unique Digital Property. Indiana Law Journal, Forthcoming (04 2021). [14] Stefano Ferretti, Marco Furini, and Manuela Montangero. 2019. Diabetes: What are italian twitter users talking about?. In 2019 28th International Conference on Computer Communication and Networks (ICCCN). IEEE, 1–6. https://doi.org/10.1109/ICCCN.2019.8847039 [15] Anastasia Giachanou and Fabio Crestani. 2016. Like it or not: A survey of twitter sentiment analysis methods. ACM Computing Surveys (CSUR) 49, 2 (2016), 1–41. https://doi.org/10.1145/2938640 [16] Google. 2022. BigQuery. Retrieved June 6, 2022 from https://cloud.google.com/bigquery/ [17] Shrey Jain, Camille Bruckmann, and Chase McDougall. 2022. NFT Appraisal Prediction: Utilizing Search Trends, Public Market Data, Linear Regression and Recurrent Neural Networks. arXiv preprint arXiv:2204.12932 (2022). [18] Arnav Kapoor, Dipanwita Guhathakurta, Mehul Mathur, Rupanshu Yadav, Manish Gupta, and Ponnurungam Kumaraguru. 2022. Tweetboost: Influence of social media on nft valuation. arXiv preprint arXiv:2201.08373 (2022). [19] OpenSea. 2022. OpenSea, the largest NFT marketplace. Retrieved June 6, 2022 from https://opensea.io/ [20] Daniel M Romero, Brendan Meeder, and Jon Kleinberg. 2011. Differences in the mechanics of information diffusion across topics: idioms, political hashtags, and complex contagion on twitter. In Proceedings of the 20th international conference on World wide web. 695–704. https: //doi.org/10.1145/1963405.1963503 [21] İlker Türker and Eyüb Ekmel Sulak. 2018. A multilayer network analysis of hashtags in twitter via co-occurrence and semantic links. International Journal of Modern Physics B 32, 04 (2018), 1850029. https://doi.org/10.1142/S0217979218500297 [22] Twitter. 2022. Search Tweets API. Retrieved June 6, 2022 from https://developer.twitter.com/en/docs/twitter-api/tweets/search/introduction [23] Kishore Vasan, Milán Janosov, and Albert-László Barabási. 2022. Quantifying NFT-driven networks in crypto art. Scienti!c reports 12, 1 (2022), 1–11. [24] Shermin Voshmgir. 2020. Token Economy: How the Web3 reinvents the Internet. Vol. 2. Token Kitchen. [25] Andi Wiliam, Sasmoko Sasmoko, Wibowo Kosasih, and Yasinta Indrianti. 2020. Sentiment analysis of social media engagement to purchasing intention. In Understanding Digital Industry. Routledge, 362–365. https://doi.org/10.1201/9780367814557-86 [26] Nick Yee, Jeremy N. Bailenson, and Nicolas Ducheneaut. 2009. The Proteus Effect: Implications of Transformed Digital Self Representation on Online and O&ine Behavior. Communication Research 36, 2 (2009), 285–312. https://doi.org/10.1177/0093650208330254 arXiv:https://doi.org/10.1177/0093650208330254 This paper is available on arxiv under CC BY 4.0 DEED license. Authors: (1) SIMONE CASALE-BRUNET, École Polytechnique Fédérale de Lausanne, Switzerland; (2) MIRKO ZICHICHI, Universidad Politécnica de Madrid, Spain; (3) LEE HUTCHINSON, WhaleAnalytica.com, Switzerland; (4) MARCO MATTAVELLI, École Polytechnique Fédérale de Lausanne, Switzerland; (5) STEFANO FERRETTI, University of Urbino “Carlo Bo”, Italy. Authors: Authors: (1) SIMONE CASALE-BRUNET, École Polytechnique Fédérale de Lausanne, Switzerland; (2) MIRKO ZICHICHI, Universidad Politécnica de Madrid, Spain; (3) LEE HUTCHINSON, WhaleAnalytica.com, Switzerland; (4) MARCO MATTAVELLI, École Polytechnique Fédérale de Lausanne, Switzerland; (5) STEFANO FERRETTI, University of Urbino “Carlo Bo”, Italy. Table of Links 1 Introduction 1 Introduction 2 State of Art 2 State of Art 3 Projects Selection and Data Collection 3 Projects Selection and Data Collection 3.1 Blockchain data 3.1 Blockchain data 3.2 Twitter data 3.2 Twitter data 4 Data Analysis and Results 4.1 Ethereum wallets and Twitter users and 4.2 The communities 4.1 Ethereum wallets and Twitter users and 4.2 The communities 4.3 Hashtags 4.3 Hashtags 4.4 The role of the social network community 4.4 The role of the social network community 5 Conclusions and References 5 Conclusions and References 5 CONCLUSIONS The NFT phenomenon is a topic that became mainstream during 2021 and has continued to receive increasing attention from early 2022 to the present. This blockchain-based technology has also come to the forefront thanks to projects such as BAYCs whose images have been purchased by celebrities and traded at very high prices as reported by several media. In this paper, we analyzed the phenomenon of NFTs, focusing on the class related to PFPs. We chose 18 projects based on our knowledge in the field and based on their importance in terms of volumes traded, users, and social activity. It was illustrated through analysis of social activity how the concept of social community is essential to ensure liquidity and value of PFP projects, i.e., used as social icons. The centrality and influence of the community related to BAYCs was demonstrated, that despite being second to CryptoPunks in terms of volumes traded, social activity is much higher and central to every other project in the industry. This work aimed to lay the groundwork for more in-depth future studies on understanding whether patterns and causality conditions may exist between elements such as the number of tweets, average price of a collection, Twitter users, and Ethereum wallet. REFERENCES [1] Oluwaseun Ajao, Jun Hong, and Weiru Liu. 2015. A survey of location inference techniques on Twitter. Journal of Information Science 41, 6 (2015), 855–864. https://doi.org/10.1177/0165551515602847 [2] Dune Analytics. 2022. rchen8: OpenSea Dashboard. Retrieved June 6, 2022 from https://dune.xyz/rchen8/opensea [3] Joseph Bonneau, Jonathan Anderson, Ross Anderson, and Frank Stajano. 2009. Eight friends are enough: social graph approximation via public listings. In Proceedings of the Second ACM EuroSys Workshop on Social Network Systems. 13–18. https://doi.org/10.1145/1578002.1578005 [4] Evan Brinckman, Andrey Kuehlkamp, Jarek Nabrzyski, and Ian J. Taylor. 2019. Techniques and Applications for Crawling, Ingesting and Analyzing Blockchain Data. In 2019 International Conference on Information and Communication Technology Convergence (ICTC). IEEE, 717–722. https: //doi.org/10.1109/ICTC46691.2019.8939746 [5] Pinar Caglayan and Zehra Ozkan. 2021. NFTs and copyright: challenges and opportunities. Journal of Intellectual Property Law& Practice 16, 10 (06 2021). https://doi.org/10.1093/jiplp/jpab104 [6] Umit Can and Bilal Alatas. 2019. A new direction in social network analysis: Online social network analysis problems and applications. Physica A: Statistical Mechanics and its Applications 535 (2019), 122372. https://doi.org/10.1016/j.physa.2019.122372 [7] Simone Casale-Brunet, Paolo Ribeca, Patrick Doyle, and Marco Mattavelli. 2021. Networks of Ethereum Non-Fungible Tokens: A Graph-Based Analysis of the ERC-721 Ecosystem. In IEEE Blockchain 2021, 06 - 08 December. https://doi.org/10.1109/Blockchain53845.2021.00033 [8] Joseph Coelho, Dawson D’almeida, Scott Coyne, Nathan Gilkerson, Katelyn Mills, and Praveen Madiraju. 2019. Social Media and Forecasting Stock Price Change. In 2019 IEEE 43rd Annual Computer Software and Applications Conference (COMPSAC), Vol. 2. 195–200. https://doi.org/10.1109/ COMPSAC.2019.10206 [9] CoinMarketCap. 2022. Ethereum historical data. Retrieved June 6, 2022 from https://coinmarketcap.com/currencies/ethereum/historical-data/ [10] Iain J Cruickshank and Kathleen M Carley. 2020. Characterizing communities of hashtag usage on twitter during the 2020 COVID-19 pandemic by multi-view clustering. Applied Network Science 5, 1 (2020), 1–40. https://doi.org/10.1007/s41109-020-00317-8 [11] Roberta De Michele, Stefano Ferretti, and Marco Furini. 2019. On helping broadcasters to promote tv-shows through hashtags. Multimedia Tools and Applications 78, 3 (2019), 3279–3296. https://doi.org/10.1007/s11042-018-6510-7 [12] Decrypt.co. 2022. Hot Ethereum NFT Platform LooksRare Is Rife With Wash Trading - And OK With It. Retrieved June 6, 2022 from https: //decrypt.co/90317/ethereum-nft-market-looksrare-wash-trading [13] Joshua Fair!eld. 2021. Tokenized: The Law of Non-Fungible Tokens and Unique Digital Property. Indiana Law Journal, Forthcoming (04 2021). [14] Stefano Ferretti, Marco Furini, and Manuela Montangero. 2019. Diabetes: What are italian twitter users talking about?. In 2019 28th International Conference on Computer Communication and Networks (ICCCN). IEEE, 1–6. https://doi.org/10.1109/ICCCN.2019.8847039 [15] Anastasia Giachanou and Fabio Crestani. 2016. Like it or not: A survey of twitter sentiment analysis methods. ACM Computing Surveys (CSUR) 49, 2 (2016), 1–41. https://doi.org/10.1145/2938640 [16] Google. 2022. BigQuery. Retrieved June 6, 2022 from https://cloud.google.com/bigquery/ [17] Shrey Jain, Camille Bruckmann, and Chase McDougall. 2022. NFT Appraisal Prediction: Utilizing Search Trends, Public Market Data, Linear Regression and Recurrent Neural Networks. arXiv preprint arXiv:2204.12932 (2022). [18] Arnav Kapoor, Dipanwita Guhathakurta, Mehul Mathur, Rupanshu Yadav, Manish Gupta, and Ponnurungam Kumaraguru. 2022. Tweetboost: Influence of social media on nft valuation. arXiv preprint arXiv:2201.08373 (2022). [19] OpenSea. 2022. OpenSea, the largest NFT marketplace. Retrieved June 6, 2022 from https://opensea.io/ [20] Daniel M Romero, Brendan Meeder, and Jon Kleinberg. 2011. Differences in the mechanics of information diffusion across topics: idioms, political hashtags, and complex contagion on twitter. In Proceedings of the 20th international conference on World wide web. 695–704. https: //doi.org/10.1145/1963405.1963503 [21] İlker Türker and Eyüb Ekmel Sulak. 2018. A multilayer network analysis of hashtags in twitter via co-occurrence and semantic links. International Journal of Modern Physics B 32, 04 (2018), 1850029. https://doi.org/10.1142/S0217979218500297 [22] Twitter. 2022. Search Tweets API. Retrieved June 6, 2022 from https://developer.twitter.com/en/docs/twitter-api/tweets/search/introduction [23] Kishore Vasan, Milán Janosov, and Albert-László Barabási. 2022. Quantifying NFT-driven networks in crypto art. Scienti!c reports 12, 1 (2022), 1–11. [24] Shermin Voshmgir. 2020. Token Economy: How the Web3 reinvents the Internet. Vol. 2. Token Kitchen. [25] Andi Wiliam, Sasmoko Sasmoko, Wibowo Kosasih, and Yasinta Indrianti. 2020. Sentiment analysis of social media engagement to purchasing intention. In Understanding Digital Industry. Routledge, 362–365. https://doi.org/10.1201/9780367814557-86 [26] Nick Yee, Jeremy N. Bailenson, and Nicolas Ducheneaut. 2009. The Proteus Effect: Implications of Transformed Digital Self Representation on Online and O&ine Behavior. Communication Research 36, 2 (2009), 285–312. https://doi.org/10.1177/0093650208330254 arXiv:https://doi.org/10.1177/0093650208330254 This paper is available on arxiv under CC BY 4.0 DEED license. This paper is available on arxiv under CC BY 4.0 DEED license. available on arxiv

How Social Engagement Drove NFT Market Success in 2022

Authors:
(1) SIMONE CASALE-BRUNET, École Polytechnique Fédérale de Lausanne, Switzerland;
(2) MIRKO ZICHICHI, Universidad Politécnica de Madrid, Spain;
(3) LEE HUTCHINSON, WhaleAnalytica.com, Switzerland;
(4) MARCO MATTAVELLI, École Polytechnique Fédérale de Lausanne, Switzerland;
(5) STEFANO FERRETTI, University of Urbino “Carlo Bo”, Italy. Table of Links 1 Introduction 2 State of Art 3 Projects Selection and Data Collection 3.1 Blockchain data 3.2 Twitter data 4 Data Analysis and Results 4.1 Ethereum wallets and Twitter users and 4.2 The communities 4.3 Hashtags 4.4 The role of the social network community 5 Conclusions and References 4.3 Hashtags As a further point of analysis, we focused on hashtags and how they are used in tweets. The hashtags - that are words preceded by the # symbol such as #NFT - are in fact the most common method used by Twitter users to create specific groups and streams of communication. We identified 60,060 different hashtags and thus constructed a weighted undirected graph where: each node represents a hashtag and each connection between two nodes represents the presence of a tweet in which both corresponding hashtags were used. As the weight of each node was assigned the number of tweets in which the corresponding hashtag was present, and as the weights of each connection the number of tweets having the two corresponding hashtags in common. Figure 6a illustrates in descending order which are the 20 most used hashtags: NFT, cryptopunks, and BAYC are the most significant ones. Beyond the 20th, namely art, the weights are much lower. Overall, the properties of the graph thus formed are shown in Table 3a: the graph consists of 762,950 connections, with an average weight of about 29,634 common tweets. The average clustering coefficient and the relatively significant number of connected components (that is 439) suggest the presence of highly specialized communities within this content graph. However, edge density is extremely low in this case, being hashtags mainly connected with some central hashtags (see below). Most likely for this reason, modularity has a low value. While Figure 6b illustrates in descending order which are the 20 hashtags with highest pagerank. Again, the values beyond the 20-th (famorie, related to the CryptoMories) the weight is much lower. Figure 4b illustrates the graph taking into account only these 20 hashtags, where the size of the nodes is proportional to the pagerank: again, as can be observed, the hashtags NFT, cryptopunks and BAYC are the most in"uential. We also performed a commonality analysis for the hashtags: this was summarized in Table 3c. As can be observed, the NFT hashtag is the one that is most common to all. The hashtags nftart, nftartist, and nftcollection are neither close to cryptopunks nor BAYC: this indicates how for more generic topics, and not only related to PFP, the discourses are less polarized on cryptopunks and BAYC. 4.4 The role of the social network community Figure 7 shows trends in volume, average price, tweets, and users (wallets and Twitter accounts) for a number of very different projects from the date of creation until April 14, 2022. BAYC, CryptoHodlers, Mekaverse, and mfers were considered. As can be seen, the BAYC built up a continuous engagement on Twitter where within a year the number of unique users talking about them grew exponentially, as did the average price, which went from 0.08ETH to more than 100ETH in less than a year. There are projects, such as CryptoHodlers, on the other hand, where although the creators try to build an ecosystem around their project by distributing comics or developing a new reserved NFT, the community has not grown, impacting the average price and liquidity (in terms of daily trades) of this project. Mekaverse and mfers, summarize these concepts: for the former we see how a high number of tweets in the early stages of the project resulted in an initial high exchange value where the figurines traded for a minimum price of 8ETH, then went to 10 times less as the number of tweets dropped. For the latter, on the other hand, we see that engagement in terms of daily tweets coincides with an increase in average price, and this occurs gradually and constantly after their release. This paper is available on arxiv under CC BY 4.0 DEED license. Authors: (1) SIMONE CASALE-BRUNET, École Polytechnique Fédérale de Lausanne, Switzerland; (2) MIRKO ZICHICHI, Universidad Politécnica de Madrid, Spain; (3) LEE HUTCHINSON, WhaleAnalytica.com, Switzerland; (4) MARCO MATTAVELLI, École Polytechnique Fédérale de Lausanne, Switzerland; (5) STEFANO FERRETTI, University of Urbino “Carlo Bo”, Italy. Authors: Authors: (1) SIMONE CASALE-BRUNET, École Polytechnique Fédérale de Lausanne, Switzerland; (2) MIRKO ZICHICHI, Universidad Politécnica de Madrid, Spain; (3) LEE HUTCHINSON, WhaleAnalytica.com, Switzerland; (4) MARCO MATTAVELLI, École Polytechnique Fédérale de Lausanne, Switzerland; (5) STEFANO FERRETTI, University of Urbino “Carlo Bo”, Italy. Table of Links 1 Introduction 1 Introduction 2 State of Art 2 State of Art 3 Projects Selection and Data Collection 3 Projects Selection and Data Collection 3.1 Blockchain data 3.1 Blockchain data 3.2 Twitter data 3.2 Twitter data 4 Data Analysis and Results 4.1 Ethereum wallets and Twitter users and 4.2 The communities 4.1 Ethereum wallets and Twitter users and 4.2 The communities 4.3 Hashtags 4.3 Hashtags 4.4 The role of the social network community 4.4 The role of the social network community 5 Conclusions and References 5 Conclusions and References 4.3 Hashtags As a further point of analysis, we focused on hashtags and how they are used in tweets. The hashtags - that are words preceded by the # symbol such as #NFT - are in fact the most common method used by Twitter users to create specific groups and streams of communication. We identified 60,060 different hashtags and thus constructed a weighted undirected graph where: each node represents a hashtag and each connection between two nodes represents the presence of a tweet in which both corresponding hashtags were used. As the weight of each node was assigned the number of tweets in which the corresponding hashtag was present, and as the weights of each connection the number of tweets having the two corresponding hashtags in common. Figure 6a illustrates in descending order which are the 20 most used hashtags: NFT, cryptopunks, and BAYC are the most significant ones. Beyond the 20th, namely art, the weights are much lower. Overall, the properties of the graph thus formed are shown in Table 3a: the graph consists of 762,950 connections, with an average weight of about 29,634 common tweets. The average clustering coefficient and the relatively significant number of connected components (that is 439) suggest the presence of highly specialized communities within this content graph. However, edge density is extremely low in this case, being hashtags mainly connected with some central hashtags (see below). Most likely for this reason, modularity has a low value. While Figure 6b illustrates in descending order which are the 20 hashtags with highest pagerank. Again, the values beyond the 20-th (famorie, related to the CryptoMories) the weight is much lower. Figure 4b illustrates the graph taking into account only these 20 hashtags, where the size of the nodes is proportional to the pagerank: again, as can be observed, the hashtags NFT, cryptopunks and BAYC are the most in"uential. We also performed a commonality analysis for the hashtags: this was summarized in Table 3c. As can be observed, the NFT hashtag is the one that is most common to all. The hashtags nftart, nftartist, and nftcollection are neither close to cryptopunks nor BAYC: this indicates how for more generic topics, and not only related to PFP, the discourses are less polarized on cryptopunks and BAYC. 4.4 The role of the social network community Figure 7 shows trends in volume, average price, tweets, and users (wallets and Twitter accounts) for a number of very different projects from the date of creation until April 14, 2022. BAYC, CryptoHodlers, Mekaverse, and mfers were considered. As can be seen, the BAYC built up a continuous engagement on Twitter where within a year the number of unique users talking about them grew exponentially, as did the average price, which went from 0.08ETH to more than 100ETH in less than a year. There are projects, such as CryptoHodlers, on the other hand, where although the creators try to build an ecosystem around their project by distributing comics or developing a new reserved NFT, the community has not grown, impacting the average price and liquidity (in terms of daily trades) of this project. Mekaverse and mfers, summarize these concepts: for the former we see how a high number of tweets in the early stages of the project resulted in an initial high exchange value where the figurines traded for a minimum price of 8ETH, then went to 10 times less as the number of tweets dropped. For the latter, on the other hand, we see that engagement in terms of daily tweets coincides with an increase in average price, and this occurs gradually and constantly after their release. This paper is available on arxiv under CC BY 4.0 DEED license. This paper is available on arxiv under CC BY 4.0 DEED license. available on arxiv

Stories, News & Mentions about ENGAGE3

Categories

Trending Topics

Stories, News & Mentions about ENGAGE3

Engage3’s Stories on HackerNoon

Engage3's News & Mentions

Categories

Trending Topics