How Web3 Will Turn Your Living Into Profits
‘You don’t need millions of dollars or millions of customers, millions of clients or millions of fans. To make a living as a craftsperson, photographer, musician, designer, author, animator, app maker, entrepreneur, or inventor you need only thousands of true fans.’
Kevin Kelly, author of bestseller book, The Inevitable
‘Can I make money from web3?’ This is one of the most relevant questions online today concerning the ‘web3’ topic. And the answer is clear. Yes, you can!
Technology has come a long way since the World Wide Web was launched. We are witnessing a new era where anyone can become an entrepreneur and start getting real income from the data they own. New ways to monetize your daily activities are one of the core principles of Web 3.0.
Kevin Kelly, the author of a bestseller book, The Inevitable, is pretty sure that a true fan will buy anything you produce. In his famous essay called “1,000 True Fans,” he predicted the influence of the Internet over the amount of money people can make off their creations. All you need to do is to establish cool relationships with your fans and learn everything you need to know about Web3.
New crypto technologies allow efficient monetization and boost your income the way that no one could imagine in the recent past.
Recently, Binance signed Cristiano Ronaldo for an exclusive partnership. He is about to release a lot of NFT collections on the exchange. But what if Cristiano escaped middlemen and released the NFT collection on his own? He could earn a lot more on condition that he’s interested in learning the topic and hiring his own team of NFT professionals.
In fact, each of us can be Cristiano, a star in his own Web3 universe, monetizing the intellectual property products, goods, food, and many many more.
How about issuing your own token? Or maybe you’re into social media stuff? You can monetize your web3 in different ways. Here are the most popular and profitable ones.
Forget About Stash and Earn Cash! How to Make Money on Web3
Your data matters
Thanks to the Social Dilemma on Netflix, we already know how big social media companies can manipulate users by using algorithms that encourage addiction to their platforms. If you don’t pay for the product, you are the product, as they say.
Big market players own your mind, but you can still be the one who ultimately makes decisions.
Did you know that the average user could make around $444 a year from their personal data? Web2 nearly killed this opportunity, but now it is time to change the rules of the game. Social media spaces like Facebook, Reddit, Instagram, and Twitter are already transforming under the influence of web3 technologies. In fact, web3 left them no choice by offering mankind new ways of monetizing and expressing themselves.
In the 20th century, Sotheby’s sold only antiques and rarities. But now the author and story behind a piece of art are as precious as the item itself.
Banksy’s shredding artwork called “Love Is in the Bin,” originally titled “Girl With Balloon,” was estimated to sell for $5.5 million to $8.2 million.
Noone shredded the lot before, and such a precedent became the value itself. Now take a look at your social media profiles and think how much you can make out of it.
Own NFT. Rule the Web 3 World
Fortunly states that the most valuable NFT is worth more than $91.8 million. Not bad, huh? Almost $41 billion of crypto cash was spent on NFT marketplaces in 2021. And this year will be much more fertile for sure.
NFTs can be used for different mediums, including:
- Videos and sports highlights
- Virtual avatars and video game skins
OpenSea, Raribe, LooksRare, and other platforms are publishing new collections every single day, and many of them are trending from day 1.
What’s the secret? Great team, promising idea, efficient PR, and some luck.
Of course, you have bigger chances to sell your collection if you are a famous artist like Takashi Murakami, but great art and fresh ideas can also be a success.
How about Goblintown? Weird goblin sounds became one of the weirdest NFT collections ever. Right after selling out, the floor price went to more than 2 ETH ($2,500).
Chaotic things can also click.
So make sure your collection is fresh and recognizable. However, there’s no need to publish all the stuff on certified platforms. Sometimes, your personal account is all you need.
Social is the New Profitable
To date, social media is not only an entertaining means of gaining popularity but also a great platform for matching art and new technology.
You are free to monetize anything you post and create on the web!
Tik Tok, Instagram, Reddit, YouTube, and other platforms allow you to convert your creativity into popularity and income. Web2 offered you oldschool methods like affiliate marketing, brand partnerships, and creator funds.
Nowadays, each of your publications can be put to value. Jack Dorsey’s Twitter post is just a tip of the iceberg.
A student Ghozali Ghozalu simply uploaded his expressionless photos on OpenSea. “I never thought anybody would want to buy the selfies, which is why I only priced them at $3,” he said. His collection reached the record 384 ether volume (which was almost $1 mln at that time).
First of all, if you create an NFT, go promote it across all online accounts you have! Or you can sell your social media posts as NFTs as well. There are a lot of companies helping everyone to sell content by connecting their social media to their platforms. Speed is the key factor here. If a user is able to upload a photo and make an NFT out of it in just a few clicks, this will immediately make the industry mass adopted.
Usually, the price of each publication is defined by you. Imagine that you can make a short film and upload it to your Reels on Instagram which in its turn is connected to the platform that automatically transforms it into an NFT. Simple, fast, expressive, profitable, — that is what your online activity will look like.
When Cells are Selling. Intellectual Property
“To date, the value of digital assets for people aged 10 to 30 is equal or exceeds the value of physical attributes. If you don’t understand it, it’s not even worth entering Web3, blockchain, and NFT’. That is what Gunnar Greve, Alan Walker’s musical manager, said in one of the latest Music Business Worldwide podcasts on the topic, and we totally agree!
Right now, many people think that the web3 and NFT technologies are a big bubble, but they just do not know how to use them all yet. When they realize that these technologies are more than just new ways to get rich — rather, ways to create useful products and utilities for people, they will surely enter the game.
Music, cinema, literature, scientific articles — NFTs, and other types of web3 monetization formats help to create new ways of relationships between a seller and a buyer. For instance, big labels will lose their power if each of us get to purchase property rights for their favorite song.
Such platforms as Royal allow fans to buy a tokenized song and then claim the royalties. Thus, Diplo dropped his song “Don’t Forget My Love” on Royal and allocated 20% of royalty ownership in the shape of 2,110 NFTs in 3 tiers. The scheme presupposed the different income for different users and tiers. And it is just one of the ways to transform industries and monetize your art through web3.
”What Web3 really does is it unlocks the possibility for creators to offer more. If we take newsletters as an example, the concept in Web3 becomes ‘why subscribe when you can invest’?’’- Jarrod Dicker, Partner at TCG stated.
What will you choose? Borrowing from a big bank or from a group of lenders you can make a deal by establishing interest and other conditions on your demands? Such interest is usually not enormous compared to what conventional banks offer.
Decentralized credits open up new possibilities for people with financial problems, bad credit history, or anybody else avoiding banking.
This can help them start businesses and bring new profits to the economy.
In decentralized environments, lending assessments are carried out by AI on blockchains. No third parties are involved. Moreover, your on-chain data is not stored and controlled by centralized authorities.
That is a great way to start a new business. How about DAO?
Make Money Through DAO
Messari leading market intelligence platform states that DAO may become as trendy as NFT.
A DAO, or “Decentralized Autonomous Organization,” is a community of people with no central leadership united by one or several common goals.
There are thousands of DAOs in the world uniting people of different nationalities and interests. After DAO was acknowledged as an LLC by one of the US states, the mass adoption of the format began.
It is essential to establish a clear goal for your DAO. As all the rules are recorded on a blockchain, no one will be able to change them unless online voting takes place.
If you want to become a co-owner of a movie or a song, you can create a DAO metaverse organization that provides fractional ownership of NFTs. That’s how Jenny Metaverse DAO acquired its first NFT, an original song by Steve Aoki and 3LAU.
Friends With Benefits is the DAO for creators that connects cultural thinkers who gathered together to co-own what they created by holding $FWB. It enables more than 3,000 members to convene on Discord and IRL and create cool stuff together.
People make DAO crowdfunding by gathering money to buy first editions of their favorite books, create diversified management systems, and much more.
In fact, DAO can unite all the potential Web3 benefits in one place.
The modern creator economy allows everything to be monetizable. People are striving to get fair income from the work they produce, and the smartest of them know how. As Web2 fades into obscurity, it is crucial to make sure you learn all you need to know about the brand new monetized world so that you can occupy a rightful place in it. So go get some inspiration for your next post on Instagram. Who knows how much you can make out of it?