You don’t want to be that chump who slogs away at their job while others are getting ahead fast. I’ve seen people’s success from staying on top of Web3 tech (blockchain, crypto) versus those ignoring it, falling behind.
Here are three of many examples that show the consequences of being left behind with emerging technology:
1.) Inflation kills people’s wealth, while others thrive in the same environment.
2.) Boomers get stuck paying a lot of money for tech help so their business doesn’t collapse.
3.) People feel bitter about missing out on generational wealth while watching others take advantage of business opportunities or high ROI investments early.
Fading Web3 now means missing chances to get ahead in your finances, skills, resources, and knowledge. This is not just a trend. The foundation of a new digital world is being built.
Do you want to be an early adopter and build new wealth and influence, or enter when the masses do, when it’s too late to take advantage of the best opportunities?
Why is Web3 in particular important? I am going to discuss four major reasons, which are: new ways to earn income, business opportunities, true digital ownership and control, and advantages in learning new skillsets.
1. New Ways to Earn Income
Let’s start with the most fun part. Web3 has proven that you can make a ton of money, and not the old-fashioned way. There are passive income and active participation opportunities. The free money from airdrops has been the wildest.
Earn Passive Income
💰 One of my favorite ways of earning passive income is staking crypto. You can view it as receiving dividends from stocks if that makes it easier. I made close to $1,000 staking Algorand in the past. If you’re old school, it sounds like Ethereum staking in ETFs in your regular brokerage account may be enabled soon too.
I tend to be safer when choosing to stake crypto, being concerned about hacks, but do your research on staking Ethereum, Solana, and other cryptocurrencies if you want to learn one of the most relaxing ways to make passive income.
💰 NFTs (Non-Fungible Tokens) are like digital collectibles or certificates that prove you own a unique item (like art, music, or game items) on the internet, using blockchain technology, so no one can fake or copy your ownership. They tend to also serve as digital access passes to special online or IRL events, clubs, opportunities, software, investments, raffles or free money, and more.
Some NFT projects offer you to stake their NFTs. Staking NFTs means locking up your NFT in a platform or smart contract to earn rewards, like passive income or benefits, without selling it. It’s common to earn tokens without monetary value that can be used to purchase merchandise, a raffle wheel spin, or anything else the project offers in exchange.
Some projects are attempting to have the holders earn passive income, like what Moonrunners is trying to achieve with their Primordia Land collection, or Saints of LA with their casino plan. Let’s hope they succeed and set a powerful example for the space and businesses in general.
💰 Lending liquidity in a DeFi application is another option. DeFi stands for Decentralized Finance, which refers to financial services like lending, borrowing, and trading that run on blockchain technology without banks or middlemen.
You supply crypto (e.g., ETH, USDC, DAI) into a smart contract on a DeFi lending platform like Aave, Compound, or Maker. Borrowers take loans using your deposited assets as liquidity. They pay interest, which gets distributed to you. Some platforms also reward you with governance tokens.
As with anything in crypto, there are risks to consider. For lending liquidity, some risks are bugs or hacks leading to fund loss, impermanent loss (for liquidity pools), regulatory risks, and liquidity must be available to withdraw your funds.
💰 Providing liquidity on Meteora, a decentralized finance (DeFi) platform on the Solana blockchain, is something I’ve never done to earn income, but I do have interest in learning more. It allows you to earn fees by facilitating trades.
It appears that you supply tokens (e.g., SOL, USDC) into a Dynamic Liquidity Market Maker (DLMM) pool on Meteora. Then traders swap assets within these pools, incurring fees. Fees are distributed proportionally based on their share in the pool. I like the idea of earning fees from other people trading, but I have the feeling you have to choose a coin when it’s hot for the best gains.
💰 There are countless topics in Web3, which may overlap with your interests or expertise. Create and sell eBooks, courses, merchandise, or anything else crypto-related online.
Earn by Active Participation
💰 Play-to-earn gaming is an example of active participation. Axie Infinity is an example of a popular game in the 2020/2021 crypto cycle.
KPRverse is an NFT project that had a temporary gaming event called Ramen Wars, where people could win prizes.
Keep an eye out for activations from Yuga Labs’ Otherside metaverse where NFT or crypto prizes are up for grabs.
💰 Engaging with decentralized apps (dApps), which later offer airdrops for participation, is popular. Receiving airdrops means crypto gets directly sent to your wallet, or you must claim it on a designated website. Many will let you know ahead of time that there will be an airdrop to promote their product, but sometimes it’s a surprise.
For example, one man I know was having fun messing around on Web3 apps, and then a massive project like Pudgy Penguins rewarded users of those platforms. He received over $1,500 in claims just for doing stuff he enjoys.
It’s been reported that people have made life-changing sums of money from airdrop farming. Some are clever and use different strategies, like this person:
💰 You do not have an NFT in a project, but you participate in the community and help out so much that someone sends you one of them for free.
💰 Get a job in Web3. There’s a variety of jobs to be done like in any other industry, for example, technology, marketing, social media, and more.
💰 They say if people are digging for gold, then sell them shovels. Start your own Web3 company. There are many pain points to solve in this early industry. Software as a service (SaaS), security safeguards, SocialFi that can actually survive long-term, and having a game like World of Warcraft on the blockchain are some ideas.
Free Money
Grab up those delicious freebies. I included more examples in the section above called, “Earn by Active Participation” because even if you didn’t pay anything, you are putting moderate effort into the methods posted there.
💰 People randomly send you coins just because you have a crypto wallet.
💰 Someone gives you the chance to win crypto or an NFT for engaging with a social media post. Here are examples on X:
💰 You have the chance to win crypto or an NFT for retweeting a post that invites you to join an X audio space, and you must be attending the space for a chance to win.
💰 You win something for attending an event in the metaverse, or get free wearables or items for showing up and accepting them.
💰 You earn a percentage back on a crypto credit card.
💰 People offer to tip you in crypto, or you have something set up where people can do it easily, like on X.
Free Money From Holding NFTs
Owning NFTs of an active project can open you up to more free income.
💰 Exclusive access to holders’-only raffles gives you the chance you win crypto, more NFTs, gift cards, merchandise, or whatever else the giveaway entails.
💰Free mints for secondary collections are a possibility. NFTs in the main Yuga Labs’ ecosystem have been generous with giving more perks the more NFTs you have.
💰 Sometimes projects hold games online where the winners receive prizes. This can be a simple as Bingo on an X space, playing poker, or a guessing game. Others can be more advanced like a PVP shooter tournament.
💰 Holders can win from contests as well. Making artwork is one example.
💰 Some offer private whitelist opportunities to mint other NFTs. This means you submit your public crypto address of a specific chain, like Ethereum or Solana. When the time comes to mint (publish it on the blockchain) the new project’s NFTs, your wallet (with its address you submitted) will be allowed to mint it while others not on the whitelist won’t.
The leaders get these opportunities by collaborating with other NFT projects. Minting an NFT is not always free, but this perk is good to know about. Even if it’s a paid mint, whitelisted people tend to get offered reduced prices.
Investing
Just like the shift from Web1 (static websites) to Web2 (interactive, social platforms), Web3 represents the next step in the internet’s evolution. If you understand and invest in the right Web3 technologies early, you can set yourself up to get ahead financially.
One example is how people say that Bitcoin is a hedge against inflation. Of course, do your own research and this is not financial advice.
Trading
Trading crypto is another new way to make income, but remember that not everyone will be profitable and many can lose money.
2. Business Opportunities
Opportunity to “Be a Big Fish in a Small Pond”
Are you skilled and talented, but not on top of the hierarchy in your industry now? People can enter Web3 and shine bright with great success. Here are a few examples:
🌐 A rapper releases a song all about crypto. He goes viral whereas he might not have otherwise.
Example: @SpottieWiFi (X) has gained more exposure through Web3 metaverse platforms.
🌐 A writer starts making lore for an NFT project. They gain brand recognition and a following.
Example: A content writer, like @GonzPaoli (X), got paid $500 to write a 3,000-word article about a crypto platform.
🌐 A tech guy or gal makes a tool for the industry that solves a pain point.
Example: Wallet Guard helps prevent people’s hot wallet assets from being stolen.
🌐 An artist gets hired on a regular basis to update the art of an NFT project. Or better yet, they get to make the art for the collection. A negotiation of 20-30% share of the sale, which can be worth well over $100,000 on the low end, is not something to pass by.
There are opportunities for creatives, accountants, lawyers, business owners, mental health advocates, religious people, students, mothers, fathers, people who want free stuff, and so much more.
Networking and Influence
The dopamine hits harder with the combination of fast gains, new friends, and awesome art and tech (if that’s your thing too).
In the pioneering stages of emerging industries, getting involved before the masses do can position you to shape the future of how we work, interact, and transact online. When you make friends with tomorrow’s superstars and innovators before they bloom and blossom, you can create a more valuable and fun network of connections.
Collaborations and building together are huge in Web3, so you may feel like you have a new online family of creatives and builders.
3. True Digital Ownership and Control
Ever get annoyed that a middleman is overcharging you, or a business entity could block access to your money or assets? Web3’s blockchain technology enables true digital ownership and control. Users can own and transfer their data, assets, and even content in a way that Web2 (the current internet) never allowed.
Security
Web3 offers greater security by reducing the reliance on centralized entities that are vulnerable to hacks and data breaches. Trust is placed in the blockchain’s cryptographic protocols, which are more secure and transparent.
Traditional Gaming Will Be Disrupted Forever 🎮
The problem with normal games is when players invest in in-game assets, they do not have true ownership. They can’t sell or trade these items, and they could vanish entirely if the company ceases operations. Imagine the difference it would make if a teenager could earn money and reap rewards for all those hours spent engaged in their favorite games.
This is now available in Web3 games, since a gamer can own their assets. They can level up and resell their gaming characters, weapons, and resources for a potentially decent amount of income.
Two current fascinating metaverse games in development are Yuga Labs’ Otherside and an online MMORPG game called Ape Reunion.
4. Advantages in Learning New Skillsets
Being early to new technology makes you fly while others crawl. The technology scene on X gives me knowledge and leads to access to cutting-edge innovations before so many other people do. With Web3, this translates to having a competitive advantage.
Business
Immersing yourself in the Web3 community, learning how to transfer crypto, using NFTs for exclusive access for events/software/airdrops, and using decentralized applications (dApps) will give you an edge.
Ai
Web3 ends up overlapping with other technologies. Besides the blockchain-run metaverse platforms, Ai is a common integration. Your Ai education should increase whether you ask for it or not in Web3!
Specific to crypto, Ai agents with coins, Ai agents tweeting about crypto, Ai use in digital collectible art and lore, and Ai use in investing are some intersections. Convo is a funny agent who likes Apechain and roasts people on X audio spaces.
Marketing
I have believed for a long time that Web3 can learn a lot from Web2, and Web2 can learn so much from Web3 when it comes to marketing. The shortcuts and enhanced community-building, lessons about hype and what works versus fails, plus general advice you learn can put you levels above of your peers in business.
I recommend following Leon Abboud since he shares high value on this matter. He believes in the democratization of this knowledge for the better of Web3.
Receive Web3 Updates
Now do you understand why web3 technology shouldn’t be ignored? If you do, you can receive more news and updates on Web3 by signing up for my newsletter and selecting to opt in to the category called, “Web 3.0 – Metaverse, NFTs, Web3 Business, Blockchain”. Also, stay tuned for more blog posts on here about Web3 to help you more forward.
Add Comment