NFT Expert Lee Richter Explains Changing Economy and How To Participate in it in Her TEDx Talk “Access, Attention & AI Ideation”
To navigate the attention economy, the right tools are needed. In her TEDx Talk called “Access, Attention and AI Ideation” , NFT Expert Lee Richter explains how to use modern tools and technology to stand out and succeed in an environment where attention is the most valuable currency.
Sugar Hill, GA – The term “Attention Economy” was invented by psychologist and economist Herbert A. Simon, but it wasn’t until 1997 that Michael Goldhaber stated that the Attention Economy is the one people live in, as “what counts most is what is most scarce now namely attention”. Lee Richter, NFT expert, marketing expert, and best-selling co-author of the book Blockchain Life , believes that the only way to succeed in such an environment is by harnessing emerging technologies.
Need for Access
“Today’s generation is not participating [in the economy] the same we did when I was young,” Richter says in her TEDx Talk, “they don’t necessarily need to own the car […] they just want access when they need it.”
This is one of the realities today’s business owners have to understand, according to Richter, to participate and have a chance at succeeding in today’s economy. In fact, the need for access is one of the themes she uses to set the scene in her TED talk. According to her, the only way to adapt to this new need for access is by using the latest technologies. Not adapting, according to her, would equal being left behind.
Observing the younger generations
Richter got increasingly aware of how Gen-Zers are changing the way humans communicate by observing her 18-year-old daughter, she explains in “Access, Attention and AI Ideation”.
“I get to observe this next generation of youth through my daughter and I often see nothing is more important to them than meaningful connections and […] they build meaningful connections where they can find them in an engaging and dopamine-activating way.” One of the places where Gen Zers find those connections is, according to Richter, in the Metaverse.
Richter then goes on to say, “Once technology advances, it never goes back,”. This is why she believes that NFTs and AI, as well as Web3, are tools that will be crucial to business owners and marketers who want to survive in an economy that has moved from a “belly-to-belly approach”, as Richter defines it, to an entirely digital approach.
To make her point, the speaker brings the following example:
“Once people got a remote for their televisions, they never went back to standing up to switch channel again.”
In a similar way, she believes businesses and marketers who are now using Web3 won’t go back. However, since this movement is just in its initial phases, Richter invites entrepreneurs and business owners to join now and decide how they would like to participate and engage in what she calls the new age of the Internet.
Watch Lee Richter’s full TEDx Talk here .
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Glean News journalist was involved in the writing and production of this article.