How to make money online with Web 3.0?
Web3 should ideally help you make money efficiently. Having monetized web 2.0 with my blog, I now earn passive income from the Liquidity Pools of the decentralized exchange Tinyman. As a decentralized exchange, the fees are minimal and it is a more customer-focused investment vehicle. In fact, I am now leading the team for AlgoShibaInu or aSHIB, an Algorand Standard Asset or ASA built on the Algorand blockchain. Our vision is to build web 3.0 applications that will create intrinsic demand for the token. The aim is to decouple the speculation and hype that is normally associated with crypto projects.
What is Web 3.0?
Web 1.0 is associated with the early online shopping experience which was more product-focused. This refers to the early 2000s and dot com bubble era. On the other hand, Web 2.0 is the internet we are familiar with. It became more customer-focused with mobile apps and social media. Web 3.0 aims to be even more customer-focused. This can mean enhancing the online shopping experience with tools like virtual reality (VR), augmented reality (AR), crypto payments, Internet of Things (IoT), etc.
How to capitalize on web3?
Web 3.0 is very promising and will be creating many jobs across specializations. This article will focus just on the blockchain applications of crypto payments in Web 3.0. If you want to make money with web3, it may be wise to examine web2 monetization plans like blogging or vlogging. If 20% of the top content makers in web2 made 80% of the total money, then the same should happen even with web3.
Hence, it is important to focus efforts on becoming really good at whatever web3 technology you are working on. But what do you do till you become really good at implementing web 3.0?
During the Californian Goldrush, only a minority of miners made money. It was more common for the merchants to become wealthy by providing the miners with over-priced food, supplies, and services.
Therefore, the smartest way to start making money on web3 is by documenting your progress on a blog. If you fail to become a top 20% web3 developer, you could possibly still become a top web3 content maker.
Why blog about your web3 project?
- Blogging helps you develop the customer-focused mindset
- Find a niche market for your web3 project
- Hire web3 developers
- Find web3 developer jobs
- Find investment for web3 crypto token
1) Blogging helps you develop the customer-focused mindset
The best example of this is my blog. I began blogging in 2016 after finishing a sales executive job at Western Union. Within a few months, I had learned so much about web development that I was even getting job interviews. As I made content focused on Finance, Travel, and Technology, I found a new job in Research in Austria at the Vorarlberg University of Applied Sciences, Dornbirn. For the past 4 years, I worked on big projects for an Insurance company, a central bank, and a data science client that required state-of-the-art Deep Learning applications. I also began Ph.D. studies in Economics at the University of Innsbruck.
Blogging by the road less traveled, I soon found myself in a better place. My performance at University was also much better. When I look back to my first blog post and see how my writing evolved over time, I am convinced that blogging gives you clarity of thought. Moreover, I can look back at some old creative blog posts to gain inspiration to keep going.
Blogging organizes thoughts and enables action
Blogging involves organizing your thoughts, if you don’t blog you can get lost in limbo. One regret, I may have is not blogging much the past 4 years since moving to Austria. Because of that, I found myself becoming less organized as my workload increased after the pandemic.
As my academic writing was aimed to present complex mathematical results, I would find myself allocating too much time to the software development work and spending minimal time on the presentation part.
Although I had my notes on latex and company project management tools, blogging some of my learning experiences would have reminded me about the stakeholders of my work. Blogging turns your own thoughts into customer-focused ideas. Hence, Blogging helps you develop the customer-focused mindset that you need in your web3 project.
2) Find a niche market for your web3 project
How do you find the market for your web3 project?
Some web3 projects that made easy funding have been splurging on unsustainable marketing efforts. But the most sustainable way to find the market for your web3 project is by blogging about your progress. As you get people to empathize with your journey, they will be more excited about your ideas.
Do you really know the market that well?
One day on social media, I met someone in the comment section who thanked me for a blog post that had helped him. It was a great feeling and also made me realize that I had no idea to who my blog was reaching out to. Every year a few future Investment Bankers contact me about studying finance at Bocconi University. Since I got into crypto, new people reach out to me on Web3.
Do you really know your web3 project that well?
Your web3 project is a work in progress and will always remain so. The market is evolving and is diverse enough to need multiple customer-focused blog posts to sell your project. My previous Web3 blog post was focused on Web3 Developers. This one is more on Web3 content makers and more specifically bloggers.
3) Hire web3 developers
Establish authority on your blog and people will want to work for you. Other Developers always seek out a marketing platform so you can definitely boost your collaboration efforts.
4) Find web3 developer jobs
If you know what you are doing in your Web3 project and are able to convince others about it, then you are more likely to land a better job.
5) Find investment for web3 crypto token
My success with Web2 is mainly seen in my career progress. But I am not yet successful in generating enough revenue from ad impressions on my blog. In fact, I have seen more success in making money on the web3 decentralized exchange. Hence, using a web2 blog to promote your web3 project can help attract a new market from the web2 world and drive them to the more monetizable web3.
Making money on Web3 is a continuous process like climbing a mountain with a piton. A piton is a metal spike that is driven into a crack in the climbing surface with a hammer, and which acts as an anchor to protect against the consequences of a fall. If your web3 project is a mountain then a blog post is like a piton to help you keep going!