NFT-Based Digital Advertising Bidding System
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Solution Overview
Problem
Current digital advertising techniques lack transparency and flexibility for clients, as they cannot select the content their ads are associated with and do not have real-time control over bidding parameters, leading to inefficient ad placement and revenue generation for content creators.
Innovation Solution
A computer-implemented method using non-fungible tokens (NFTs) to label popular video clips on digital platforms, allowing entities to bid on ad space based on clip popularity, with the highest bidder winning the ad space and transferring ownership, enabling real-time informed bidding and transparent ad placement.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If static bidding process based on user preferences is used, then clients can set preferences for bidding, but transparency and real-time control over bidding parameters are lost
Solution Approach 1:
The patent implements real-time feedback mechanisms where clients can monitor their bid status, ad space acquisition, and spending throughout the day. The system provides continuous updates on bidding parameters, allowing clients to see the actual state of their campaigns and adjust accordingly, thereby maintaining both flexibility and transparency simultaneously
Solution Approach 2:
The patent transforms the static bidding process into a dynamic one by allowing clients to modify bidding parameters in real-time based on current conditions. The system enables continuous adjustment of bids, budgets, and targeting parameters during the campaign day, making the advertising system adaptable while maintaining full visibility of all changes through the interface
2Adaptability or versatility
If content-specific ad placement is enabled, then clients can select content to associate their advertising with, but the complexity of the bidding process increases
Solution Approach 1:
The patent segments the advertising system into distinct modular components: content selection module, bidding module, budget management module, and reporting module. Each module handles a specific aspect of the advertising process independently, allowing clients to navigate and control each function separately through the interface, thereby reducing perceived complexity while maintaining comprehensive functionality
Solution Approach 2:
The patent introduces an intermediary advertising management system that acts as a mediator between clients and the digital media network. This intermediary handles the complex matching of ads to content, bid calculations, and placement decisions, presenting a simplified interface to clients while managing the underlying complexity through automated algorithms and standardized protocols
3Loss of information
If real-time monitoring and bidding is implemented, then transparency and control are improved, but the system complexity and computational requirements increase
Solution Approach 1:
The patent implements self-service capabilities where the advertising management system automatically performs bid adjustments, budget allocation, and performance optimization without requiring constant manual intervention. The system monitors its own performance metrics and makes real-time decisions, reducing the computational burden on client devices while maintaining transparency through automated reporting and dashboard displays
Data Source
AI summary
Techniques are disclosed, using one or more computers. for bidding on digital advertising space associated with media content on a digital platform. Popularity is determined of a plurality of electronic communication and associated clips on a digital platform. A clip is detected which meets a threshold for approaching an activity level of user activity indicating the popularity of the clip. The clip meeting the threshold is labeled as a non-fungible token (NFT) indicating available digital advertising space associated with the clip. In response to the labeling of the clip, monetary bidding is received, based on the NFT by entities buying digital advertising space for digital advertising content associated with the NFT.