Implementation of sound effects on DSP platform

In the era of digitization, sound effects are becoming very popular although some listeners claim that they do not sound natural, as they have no "soul." Devices producing sound effects should be possibly compact. In a box of the size of a typical analog effect a lot of digital effects with some pre-programmed parameters can be placed. In addition, there exists a possibility to model the tone like various famous brands (like in already legendary amplifiers) but this requires a massive computing power of contemporary digital signal processors. There is also an additional advantage of digital effects, namely their low price. For the price of one analog effect it is possible to have a set of many effects in a digital format.