Hyperlinks were ground-breaking for the internet during the Web1 era and enabled digital advertising to become the backbone of the internet’s commercialization. To date, digital advertising is still the largest means of monetization, having generated $521 billion in revenue by 2021.

The internet is all about drawing attention, more attention means more profitability. During the Web2 era, the largest attention generator has been social media platforms such as Facebook, Twitter, and YouTube, whose users spend an average of two hours and 49 minutes per day as of 2022.

Ethereum Improvement Proposal (EIP) 5489, proposed by Parami Protocol, was assigned as Last Call before becoming an official ERC standard. The upcoming standard extends ERC-721 with a new functionality by allowing hyperlinks to be embedded in nonfungible tokens’ (NFTs) metadata slots, so the audience of NFTs can click through and get directed to any URI destination on the web.

With the new chemistry between the attention economy and NFTs catalyzed by EIP5489, it is necessary to make a serious summary of the attention experience in the web3 domain, the new development of NFTs, before we dive into EIP5489.

On the last day of 2022, we are honored to invite our partners from Parami Protocol to talk about NFT, the attention economy, EIP5489 and Parami Protocol.