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@buzzbot discuss 17777 Is there a place for advertising on Nostr? Is it even possible without algorithms? Can Nostr attract the creator economy without ad money flowing? Genuinely curious what you think. Thoughtful replies may be rewarded, in sats or Bitcoin, whichever you fancy.

Replies (69)

↩ replying to Satillionaire
" So you think advertisers would have to be less targeted on Nostr?" Yeah basically. Like the early days of TV; when they would design shows to appeal to certain demographics and then sell ads to that demographic. They had a vague idea of who they were reaching but didn't have nearly the amount of data that is scraped from internet/app browsing. Or like placing an ad in a newspaper. You know it will be seen but not necessarily who sees it and how many see it. Or when they see it, click on it, etc. All of that sounds less targeted to me. "If that is the case why come here?" I'm not making a case it would draw people here, just saying that seems like how it is. Marketers are so addicted to data they would have to rethink their whole paradigm in order to come to nostr. Perhaps if they reduce costs by not tracking every conceivable bit of data and focus on a couple meaningful metrics, they could use nostr. Example: (caveat, I'm not a marketer. I'm making all this up.) I'm a company selling a widget. I do research to find where my target buyer hangs out on nostr and maybe the tags they use. I advertise in these parts nostr widely and indiscriminately. And cheaply. I don't track anything from nostr but I do track my sales figures and I iterate my advertising based on that. I won't know exactly who, what, why, how, where the ads worked but I can see if they are working or not via my sales figures. I may be able to advertise cheaper than I could otherwise by reducing the labor/research/consultant costs.
Q - "Can Nostr attract the creator economy without ad money flowing?" A - "No. Currently creators would have to pay for media hosting, streaming, and put in actual work engaging with others on nostr. With 67% of Americans living check to check, they are much less likely to start negative in the journey to making money online and the free options elsewhere already work for millions to start."
1. Nostr has advertising space because people here would rather get 500 sats than 0.5 US dollars. But now the number of Nostr users is too small, and it is difficult for advertisers to survive. I remember that BOB used to make a similar advertising robot for forwarding posts. It is not in operation now. 2. The advantage of Nostr's sats reward advertising comes from the sharing of real users. It is an advantage compared to the opacity of the algorithm. But the dissemination efficiency will be lower. 3. In nostr, creators can get better permissionless creation rewards. Zap is a direct exchange of value with creators. There is no platform middleman or middleman. Users control their own accounts, and their fans and data can migrate freely. This is more attractive to creators than traditional large platforms. @corndalorian is a representative of the creators here, and he often creates amazing works that resonate with the community. His post quoted below is one of the representatives. View quoted note →
"Can Nostr attract the creator economy without ad money flowing?" We currently have a sharecropper situation online. Sharecropper definition: 1. A tenant farmer who gives a share of the crops raised to the landlord in lieu of rent. 2. A person who enters an agreement with a land owner to farm the land and then pay a portion (share) of the produce as rent. One who sharecrops. 3. Small farmers and tenants. The big platforms pretend like they own all the land and they generously allow serfs to farm. They conditioned people to believe all they have to do is put content on a platform and they can make a living. Creators need to change that paradigm for themselves in order for them to come to nostr. They'd have to produce something they can sell on their own website and then use nostr as one of many tools to drive traffic, and hopefully sales, to their site. Pros: less permissioned higher potential upside Cons: less certainty more work (probably?) So creators wouldn't get ad revenue but they can make a living. Nostr examples: @Jack Spirko @npub15j25...dz4u @SoapMiner
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I think that advertisement on Nostr (if it scales accordingly) is going to be really different from normie social media advertisement. It is without a doub going to be more ethical and there will be more power in the hands of the consumer/user than in the hands of the investor/advertiser. Which can be a good thing, but not for every brand I imagine. 💜
Advertising could work well if the incentive is there for the user to read the advertisement. Ie instead of the advertiser paying the platform to splay the ad and expose the user to it, how about they pay the user that read the ad some sats. I think this could transform ads but on a long enough timeline it could transform companies themselves because if you’re paying people to check out your product or service, it better be good.
I'd say it can work if that someone put some work in effective non intrusive self advertising. Good products will be recommended to others by the costumers and that's how it should be. I'm sick of endless adds on the internet and I'm probably not alone not give a damn about the ads anymore. The recipe is good quality products always sell themselves. Even on Nostr where it's recommended by your web of trust circle.