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Ever interested in making money in Web 3.0 in 2024? Read this article! It contains useful information, plus guides on how you can do it.
What Is Web 3.0?
Web3, a phrase first introduced by Ethereum co-founder Gavin Wood in 2014, has recently become a popular term amongst cryptocurrency enthusiasts, tech conglomerates, and venture capitalists.
The Web 3.0 concept describes a potential new version of the World Wide Web that would blends together decentralization, blockchain technology, and token economics. It has been suggested by some tech experts and reporters to be in contrast to the current Web 2.0, where data and content are primarily managed by a handful of companies labeled as “Big Tech”.
When you think about Web 3.0, the main definition that describes it is an ecosystem that is based on Blockchain in a decentralized manner. To put it simply, this is another way of looking at the World Wide Web – as a next generation Internet.
The primary purpose of Web 3.0 is to provide multiple forms of leverages and benefits compared to traditional Web 2.0 and Web 1.0.
The main idea which helps make that a reality is the decentralized manner in which the information is transferred, which allows users to retain their data, privacy and content using the power of Blockchain.
This is what makes it extremely desirable and a hot topic nowadays – most of the applications and platforms are not owned by a company, but rather by the users themselves.
Another benefit of this form of Internet is the tokens and tokenisation of it. This means that all of your assets can be converted to tokens that are stored on your Blockchain wallet in a secure and decentralized manner. With cryptocurrency going viral, this shapes up to be a new form of model that is away from any monopoly.
The result of this trend going global in terms of popularity is that a lot of people and organizations have taken interest in developing different aspects of this web, making it a very lucrative opportunity if you want to make money.
Ways to Make Money In Web 3.0
Make Money by Flipping Blockchain Domains (Web 3.0 Domains)
Blockchain domains, also known as NFT or Web 3.0 domains or presumably the so-called future of websites or at least domain names.
The main benefits that they have in comparison to traditional domain names is that you do not have to pay any kind of monthly fees on one as it is credited to your wallet and can’t even serve as your wallet, making people find it much easier to pay you in crypto.
The main reason for that is that you may replace the traditional old boring address (zD32hdsafn32a32h9g9f239fb9s9ahs992nz2, for example can become yourwalletname.x) into anything you would like it to be as long as it is not already taken.
The benefits for using NFT domains are multiple:
1. Simplify cryptocurrency addresses with NFT domains
– Attach your BTC, ETH, LTC and 275+ other cryptocurrencies to your NFT domain
2. Login with your domain
– A single, easy-to-remember username on the decentralised web
3. Own your domain, for life
– No renewal fees, ever
Another benefit of these the means is that you have the ability to create a decentralized website that is hosted in IPFS or Inter Planetary File System, which is basically in a decentralised manner.
We have created such a website for demonstration purposes and have a guide on how you can register and sell a blockchain website for profit.
The benefits of using search website art a lot, but the main one is that compared to traditional hosting everything complete control over your Blockchain domain as the way it is hosted makes you the only owner of it, since it’s decentralized.
Below you can find a video on how you can use NFT Domains to make money:
Make Money in Web 3.0 by Creating & Selling NFTs
Just like NFT domains, an NFT is also a very important asset. If you haven’t read our guide on how to make money with NFTs, then you should start by understanding what is an NFT or a Non-Fungible Token.
By definition, an NFT is a unique object that is digitally identifiable with the code, making it kind of like a digital certificate that cannot be altered, since it is recorded in the Blockchain, making the owner, whose wallet is a credit to the sole administrator and rights holder of the NFT.
Since this makes the NFT a unique item, it has resulted in a large market recently forming in the sphere of art and collectibles and all kinds of art-related pieces.
The following kinds are the main types of NFTs that are currently being traded and the prices can vary from less than a dollar all the way up to millions for a single item:
- Art.
- Collectibles.
- Domain names (NFT domains).
- Music.
- Photography.
- Sports.
- Trading cards.
- Virtual worlds.
As we have shown and proven in our guides on the matter, with the proper NTF tools, the proper NFT creator apps, some skill and imagination, anyone can make and sell an NFT for profit in Web 3.0, as long as they have chosen the right NFT marketplace and the right marketing strategy as well.
Make Money in Web 3.0 By Getting Paid with Ads
One very interesting way via which you can get paid as a result of using blockchain technology it’s probably also one of the oldest methods – via different kinds of advertisements on your browser.
We all know that when we use our web browser and traditional ways and watch movies online, see videos and read blogs we all see different kinds of advertisements, that are optimized based on what we do online with the power of cookies and other truckers.
This method to make money is virtually in the same logic, with the exception of the fact that the profit is generated and credited not to the person who advertises, but to the user as well in a shared manner.
One organization that is taking advantage of doing this is the most popular browser that is utilizes blockchain Web 3.0 – Brave browser.
This web browser has tokens, that are also known as BAT (basic attention token). In a similar way to any other browser you also see advertisements, while using it, with the difference that four periods of time, BAT tokens are accredited to you in your personal cryptocurrency wallet that is controlled by Brave.
Based on your activity in the Blockchain and how much you contribute, the value of your wallet can only go up and then you can later trade in those BAT tokens in the crypto market and therefore make money.
Monetize Your Blog Content by Turning It Into NFT
Another very interesting service that has been created in order to incorporate blockchain technology for profit is known as Mirror.xyz.
This platform is very useful if you have a personal blog with daily readers. The main reason for that is that it helps you monetize your blog by turning each of your content created into NFTs.
Doing so allows you to link your articles to your wallet and makes it possible for you to retain a complete ownership, allowing you to move it in between platforms. Here are the following ways you can make money by turning your block content into an NFT:
- Charging a subscription fee for accessing your content.
- Allowing your readers to contribute to your work and then offering them a percentage of the profit.
- The opportunity to negotiate with other businesses and brands and allow them to advertising your content at promotional rates.
Make Money in Web 3.0 from Airdrops
Another extremely effective way in which you can quickly gather some income in Web 3.0 is taking advantage of different kinds of Airdrops.
Because Web 3.0 is still at the beginning stage of development, there are tons of new projects with a lot of people who want to gather new contributors and users in their platforms and rewarding newcomers with tokens for free.
This is an opportunity for any newcomer, because of the project becomes extremely popular, the price of those tokens may increase and they may profit from thin air.
Of course, there is always a trick. To get accepted to a new project, your wallet has to meet certain requirements, based on the organization that is giving you the Airdrop.
Usually, most new project want you to make a swap or a one time fee in order to begin participating in their protocol. Others just want your wallet to meet specific criteria in order to accept their tokens.
There are a lot of different kinds of airdrops out there and you should keep in mind and follow them closely.
One example is the ENS Air drop, which was worth about 500 million USD in tokens, which were given to contributors with top-level contributors receiving up to 1,000 ENS tokens as sources have reported.
Make Money Via Web 3.0 VideoGames
Another very unique and innovative way via which you can profit from Web 3.0 being in early stages is to go on platforms that reward you into simply using them. Such platforms include video games, which is rather an interesting way to generate income.
One such game is known as Axie Infinity. This is a game that is strategically oriented and is hosted on the Blockchain. It rewards its users with unique tokens by playing virtual characters.
To start on it you will need to buy a character, with the cheapest one starting at over $60 a piece. Once you get your characters, you can level them up, which increases their value.
The game runs on the Ethereum Blockchain and by playing it you earn the tokens of the game, also known as Axie Infinity Shards or AXS. The stock is what allows you to make money using this game, since they can be utilised to make your money. Proof of that is hundreds of millions of dollars being sent and recieved in “Axies” so far.
This is one working example of a Blockchain – based video game, which allows its users to make money.
Be on the lookout for you and start up games which are increasingly becoming more popular, as the sooner you start in such a project, the more money you can make if it becomes worldwide popular.
Make Money By Buying & Selling Land In The Metaverse
If you want to make money in Web 3.0 by becoming a Metaverse real-estate agent, then be advised – it is an expensive venture, but it’s worth it.
An year ago, one block of land on the metaverse, known as Decentraland used to cost under $1,000, and now the same pieces are worth tens of thousands. But how does it work?
Well, first of all, you need to choose the metaverse in which you will trade land. The older metaverses, like Decentraland have most of their good land already bought, so if you do not have the resources to buy land there, it is probably a good idea to avoid it.
Instead, look for newer and emerging metaverse worlds, where the land is still cheap, but you believe are promising projects.
The main strategy with buying such land is to get the good spots first. The more central spot that captures more user traffic around it, like a central street on the land map for example will have more value, as more people will see the virtual products created on this land.
Make Money Via Metaverse Activities
Metaverse is full of different virtual activities in which you can not only participate, but also use for income. Starting from virtual stores that sell different character skins all the way to virtual casinos, where you have to buy an actual NFT in the form of a ticket to participate in the casino games.
Such unique strategies will help you generate profit, but to do that, you will need to purchase your own Metaverse land and create a virtual store or activity and become the administrator of it.
Of course to do that you will need to be very familiar with the Metaverse you are in and you will need a good piece of land with a lot of people passing by it, so that you can attract more attention to your project.
You will also need to be an active member of the community and promise something in return, such as tokens in the form of a trading chip, for example and some type of promotions to lure customers.
Become a Web 3.0 Developer
Becoming a Web 3.0 developer can be one very lucrative opportunity for you. The main reason for that is you could be hired by not just one, but multiple organizations for a lot of different Web 3.0 projects.
Besides the mandatory experience in programming languages, you will need to be competent in Web 3.0 concept, like the following spheres:
- How blockchain works.
- What are smart contracts and how they function.
- Building decentralised apps (also known as dapps).
The main skills it takes to be such a developer is of course knowing the fundamentals of blockchain technologies and also being competent in algorithm logics and data structuring.
The languages in which most web 3.0 developers work on are the following:
- Python.
- C++.
- JavaScript.
- Go.
- Solidity.
Seeing how any web 3.0 project is essentially a startup, you get the chance to work in close teams and also for yourself and given the project’s rate of success the money making opportunity is pretty decent to say the least.
Become a Web 3.0 Organization Affiliate
If you are not a skilled developer, but still want to participate in Web 3.0 projects and work together with companies in the field, then do not worry. Another such option is to become an affiliate of a Web 3.0 organization.
If you like making vlogs or writing articles and have an auditory, then you may be able to work closely with some companies to give you specific percentage just to advertise their products on your platform.
That being said, you will need to have a decent user base on your website or video channel and being an authority in the Web 3.0 field is a big plus.
It may even make Web 3.0 startups and businesses seek you out for partnership as it happens often, since it is a win-win situation – you receive a percentage per click on an affiliate link or sale made and they receive profit and popularity to their project.
Conclusion
Web 3.0 is a wonderful opportunity to make money as it is still in its early stage, making Market penetration much easier. That being said, you will need to have a clear strategy on how you will approach this new market and do a careful research before you act. Have fun making money on Web 3.0!
How We Conducted Our Research
Besides the occasional online research, we also attempted to extract information about making money in Web 3.0 by actually creating accounts and investing time in them (as visible by the NFT, created from the screenshot above). We also checked related forum posts, videos and articles by people, who have had some experience with generating actual profits and their success stories.