We’re currently experiencing a big transition into Web3 and the exciting part about this is that we’re still super early. You can make money in the Web 3 world in two major ways. And this is by either investing in it or creating something in it.
Recently Walmart launched a virtual store, Nike hopping into the Web3, Adidas joining the NFT & Web3 hype and companies changing their domains to .eth. Left and Right, the new era of the Internet is here with web3.0. And it has investors pouring billions of dollars into it. So I think it’s time we take a closer look. Just do a quick Google Trends search for Web3.
Walmart Owned Flipkart To Start Testing Web3.0 Metaverse Expansion
Different Ways You Can Make Money With Web3
Throughout the article, we have explained
- What is Web3
- A detailed guide on earning passive income with web3.
- Web3 Business Idea
Before we explain the above 3 points, let’s see in pointer the few ways to earn money with Web3
- Earn Money On Web3 by AirDrops
- Play to Earn Model
- Earn From Your Data
- Create Personalized Currency
- Benefit Yourself From Decentralized Credit
- Own NFTs – Here is the list of the most popular NFT Marketplace
- Participate In The Technology
- Democratize ownership of physical properties
- Work for Working a Decentralized Autonomous Organization
- Web3 advertising
- Backend as a Service
- Write For Us on Web3 Topics. We will pay you $10 USD for each article.
These are the 7 ways to make money with Web3. We have explained all the 7 pointers in detail down the article. So let’s see a few more queries related to Web3.
Today, we are going through the new thing that everyone is talking about right now, which is web3.0. And the different ways you can make money with Web3 and possibly the biggest trend of our generation. And I really want you guys to benefit from this massive shift. So make sure you read this article carefully without scrolling.
Web3.0 entered its second phase and became notably more known to people, however not to everyone. Some say it’s the future of technology, while some might dwell on the statement.
Yet, no one can deny that there are a lot of factors behind making it possible such as notable integrated search engines and informational platforms. And with that plunge web, 3.0 have reached its highest peak through the two concepts-
- Open-source utility
The two concepts have played a grand role in the popularity of web 3.0 and made it stand in the place it is now. And, to understand how you can make money through web 3.0, you have to understand the barcode of these two most disruptive yet crucial topics. So, before we get into the money-making process. Let’s step aside and get more pulse from these two climatic.
While the actual definition of web 3.0 is yet to be established and marked to its real meaning. The experts rely upon or say technical experts, and the normal user might depend upon the decentralization to chip away the meaning of it.
The idea of decentralization depends on giving back to users what is already theirs. Throughout the 2.0 the power and control of the data remained under the authority of owner platforms. Don’t worry if it is not cooking in your brain yet, let’s take an example-
Google, Facebook, and Instagram. These three platforms have made a well-known identification for themselves but have you ever wondered what? How do they make money? Selling your information!
As you might know, they can use and move your data as they want to make the money out of it. These are not just free platforms that anyone can come, use, make, content, increase their followers, and stay on them for years. They are too growing their user, searching for things, gathering your data, motoring your activities, and boosting their revenues. All of this is happening because they have access to your data.
The basic concept of Web 2.0 was based on providing services. And it’s also one of the biggest flaws in web 2.0 as the platforms can gather all of your information, and get benefits without providing you any incentive in return.
Web 3.0 works to correct the mistakes done throughout the decades of the life of web 2.0 and gives control to users creating endless possibilities. It will let you have full control over your data and where you want to use it. But how will Web 3.0 do it? If this question is popping up in your mind, relax. You will know later how future decentralization would help you, but first let’s operate the second pillar of Web3.0, which is an open-source utility.
Understanding The Open Source Utility
Centralization happens as it was the best way to create network infrastructure. It was trusted, allegedly secure, and communicable. On the table of centralization, someone pays to install and set up a server, software that users desire to access online, and then in return that someone charges the users to use it or let’s use it cost-free, as long as the specified terms and conditions are agreed.
But to break down the whole structure, Web3.0 is built on open-source software to be permissionless and trustless. Now, here being trustless has a different meaning than its regular definition. In this environment trustless means that all the interactions and transactions can occur between the two peers without any trusted third party in between.
To deeply understand this, you can take an example where A needs to send money to B. But A resides in India while B homes in London. Now when A wants to send money to B, it can’t just directly go and give money to B. But what A is required to do, is to go to the bank, submit the money to the bank to transfer it to B. Then banks take the charge to transfer money to a chain of banks, so that it could finally reach B.
What happens with this? These three things-
- First, the bank will know the information about all the transactions.
- Second, A’s government or the relevant bodies will know about the transaction.
- And third, these two things will happen to B too, plus it will receive the money after a subtle time.
Now to resolve the issue what Web3 does is that it eliminates the need for banks and A can directly transact the money to B without making any delays. This was made possible with the help of blockchain technology. Blockchain provides a new method of storing data online on the ground basis of encryption and distributed computing.
Encryption permits storing data on the blockchain and only people, who have full authority over this data, can access it. Even not the government or any other corporation can have permission to approach that data. As of now, the government has no right reserved about the blockchain, but there might be some legal intervention by governments in the future.
Same as encryption, distributed computing plays its own part and allows the storage of the relevant files about the data on multiple computers or servers. And if any copy does not match each other, data is considered invalid. The distribution protects the security and allows a person, who controls the data, to collect or alter the data without the permission of any other person on the distributed network. This means If A thinks B is not trustworthy anymore, he can change his own information without even B knowing.
Now that you finally fully know about decentralization and then open source unity, let’s move to the main topic and figure out how you can make money with it.
Now that you know everything about Web 3.0, let’s see how you can make or earn money on web3 platforms.
7 Ways of Making Money With The Web 3.0
In the world of web 3.0, everything is all about monetization. So by giving the full monarchy to you over your data, web 3.0 lets you gain financial benefits with it. Here are the five ways in which you can earn money.
1. Earn Money On Web3 by AirDrops
So the first way is through what is known as Airdrops. Now since web3 is really new and just getting started with new projects being booked, like every single day, developers want as many people to interact with their platforms as possible and are rewarding early adopters of their product with governance tokens. So essentially, it’s a way for projects to drive awareness to their platform, your wallet has to meet certain criteria to receive these free tokens.
2. Play to Earn Model
The next way you can make a profit with web3.0 would be to interact with platforms that reward its users for being active. One example of this would be Axie Infinity. Here are a few alternatives to Axie Infinity.
3. Earn From Your Data
In the centralized world when companies have the right over data, they sell it for their benefit. Web3.0 lets you do the same, but for your own benefit. You can share your data across the globe to buy and sell anything. Anything can include properties too. And in case you want to sell your data to any corporation like Facebook, you can with the help of Web3.0 and get fairly paid for it. You just have to choose what you want to do with your data.
4. Create Personalized Currency
Web 3.0 not only lets you on your data but also lets you pay off well when you create your personalized token. You can create your tokens and mint or distribute them. You can fully and directly control the value of the currency.
Personalized tokens have much more use than anyone can imagine. It lets the people create a way to monetize the value or the data they create. You can use the personalized tokens to experience a whole new online world.
5. Benefit Yourself From Decentralized Credit
With decentralized credit, you can emit the role of banks from not only sending and receiving money but also from borrowing and lending it. You can create or take a part in the lender pool and customize how you wish to lend your money and on what interest.
The credit pools can earn you a good sum of money that otherwise would be impossible. However, that does not mean that you will see no more banks. Banks will stay, but Web3.0 will change the banking style in the upcoming future and you can take benefit from it.
6. Own NFTs
Anyone can access the NFT and earn some passive income. You can generate this income for upcoming years without stepping into a financial crisis. Because it generates a passive income source, it has no risks included. The decentralization works behind the NFT and makes it possible. You can buy and auction NFTs to get a profit.
Digital art has become NFT. You can own or create your digital art and then sell it to make the money. No third party can interfere in your decision, only your choice of what you want to do with your digital art. You can use the NFTs for gaming, as a digital wallet, in virtual real estate, in the metaverse, and much more. NFTs have endless possibilities to count.
7. Participate In The Technology
Last but not least, Web3.0 is growing rapidly, and so are the technologies associated with it. Because it solely depends on the open-source utilities it is a great time for you to participate in it. You can start your career now as a web 3.0 developer, begin with a new future now. It has already birthed new technologies and will do so to others.
Few More Revenue Web3 Opportunities Are As Below
- Web3 advertising
- Start Creating Web3 Store like Shopify
- By Property on Web3 and rent it.
- Web3.0 brings a new mode of connection with the world. It provides you the direct benefits.
- The two pillars of Web3.0 help you to form an individual identity on the blockchain and the internet to acquire benefits.
- With endless possibilities, with Web3.0 you can create unlimited income sources to gain new financial independence.
So what is your opinion about the web3.0? Different people can have different opinions, but there is no doubt it’s the future of the web. And it’s the new way to prove your presence online. If you wish to make some good money, give a try a trellis of opportunities that this technology is offering you.
Earn money with web3 by becoming content creators. There are 10+ more ways to make money from Web3. The first is Web3 advertising, the second is buy property on web3 and rent out, third is run your own store on Web3.
Start generating revenue from Web3 is the best benefit you can take from Web3 in 2022.