Because blockchain systems are often monetized as basic networks, monetized in advanced before new applications are built on them, and because they require few or no intermediaries, these networks are far more efficient at distributing economic benefits directly to users, compared to Web 2.0.
This provides a greater number of individuals with a much larger slice of the economic pie, for example in sharing the ad revenue of Web 3 social media.
The rise of Web 3, alongside the development of metaverses, and 5G, means a huge demand for additional network services, in terms of hardware and software, for processing and storing huge quantities of data, and for increasing available internet bandwidth. The current main internet structures can be augmented with Web 3 computing facilities. This has the potential to lead to important sources of additional income for millions, working from home businesses to run decentralized network connection facilities (for increased increase bandwidth), data processing, blockchain verification services, and decentralized storage space. Much of this can be automated for passive income, which individuals might live from, or use to supplement job income.
And then there are NTFs… Beeple got 69 million dollars for a single work of NFT art! While 69 million isn’t anywhere close to a typical NFT price tag, this is one of may examples that illustrate how the technology continues to grow and transform digital culture. For those who choose to invest in or work with blockchain assets or businesses, including NFTs, it is important to keep in mind that many blockchain investments lead to losing money, just like traditional investments.
The market may fluctuate, but Web 3 opportunities are on the rise!
One of the most important developments in the history of the Web is the rise of DePin, or Decentralized Physical Infrastructure, in which everything from data storage to Wifi to AI services to cloud computing are run on decentralized networks. It’s the wave of the future, promising a fairer, more democratic and economically inclusive internet, together with massive opportunities, especially for early adopters of these new technologies!
Helium wireless and Helium Mobile devices are forming the network of the future!
Decentralized wireless home networks and other hardware infrastructure are important components of decentralized networks. Decentralized digital networks cannot function without the necessary machines and connections required for storing and transmitting data. Providing decentralized infrastructure may become an important home business, and a source of extra income for many.
One of the most exciting Web 3 developments is the network being built with Helium hardware devices, which together provide a system of privately owned and operated wireless Web facilities. Those participating in the Helium network are reward with crypto!
A home businesses providing decentralized wireless network facilities can extended their activates to include other decentralized services, like file storage, and running validator nodes for crypto networks.
The construction of 3D metaverses, the expansion of 5g and blockchain networks, and the development of the IoT (Internet of Things) all contribute to increasing demand for greater bandwidth. An article posted on techopedia.com about the Internet of Things states that “IoT-generated data takes up a lot of bandwidth. Be under no illusion – the term ‘a lot’ represents an eye-watering amount that historical storage solutions were never designed to cope with. … Centralized storage was never created with this in mind, meaning that a monumental shift is poised to take place in order to cope with demand.” Add to this the huge data demands associated with blockchains and metaverses, and you’re looking at huge quantities of data. The solution to the bandwidth problem is the micro data center (MDC). MDC can augment larger data facilities, providing efficient use and control of data, locally. The article informs us that “With a single MDC being the size of a refrigerator and offering virtually silent operation, even the smallest of enterprises can house them on their premises”. MDCs can be employed in a range of situations, from small home businesses to large corporations, to fulfill the growing need for data storage and transmission.
Here’s the link to the Helium website: https://www.helium.com/
The link to the article on micro data centers: https://www.techopedia.com/how-the-iot-is-promoting-growth-in-the-micro-data-center/2/34640
Help run a network validating transactions, providing storage space or lending some CPU power, and get rewarded with crypto!
Network participants can assist in a variety of ways. In the age of AI, there’s a huge need for addition computing power to facilitate AI services. By allowing your spare CPU to be utilized by AI, you can provide a service compensated through crypto payments. There are also protocols that pay crypto to data storage providers, which can be a nice home side hustle, or even a full business, depending upon the scale.
Proof of stake is a method of securing crypto networks, and participants are rewarded with crypto, for providing the nodes (network computers) necessary for running the network. These nodes validate network transactions, and in this context may be referred to as “validators”. The greater the number of nodes and participating individuals, the greater the decentralization (which is the most important part of blockchain technology).
This use of crypto funds to help run network nodes is called “proof of stake”. Participants providing crypto to network validators have a stake in providing reliable and accurate transaction validations, since those nodes that fail to do this can be penalized by needing to pay the crypto which has been allocated for use in a particular node. Thus, node operators have an economic incentive to follow the rules of the network and validate transactions properly, to avoid losing the crypto that have allocated for use in the node. On the other hand, when they do their job properly, they are rewarded with more cryptocurrency, which can be an excellent means of income.
There are many coins, and different options for staking. One can establish a node in a staking system, or join an already established staking pool.
Ethereum, the world’s second largest crypto, in terms of market capital, is a proof of stake system.
While running a full Ethereum node requires a great deal of capital, there are plenty of staking pools that allow individual users and small businesses to collectively participate in providing the cryptocurrency loans or investments needed for running a node, often yielding good APR returns. One of the easiest ways to lend crypto to network validators is using a wallet called “Keplr”. Keplr is one of the most popular wallets in the Cosmos (a group of blockchain networks) ecosystem, allowing users to easily put cryptocurrency into a range of validators, operating with a number of different cryptocurrencies. Please note that once you place an amount of crypto into a validator, there is often a waiting period before one can fully withdraw it, with a 21 day period being typical in Cosmos ecosystem.
Other proof of stake coins include Solana, Algorand, Tezos, BitShares, Electra Protocol, NXT, Mina, and Cartesi.
Some links connected with proof of stake:
https://www.forbes.com/advisor/investing/cryptocurrency/proof-of-stake/
https://www.cryptovantage.com/guides/what-is-proof-of-stake/
Does traditional finance have any respect for its customers? Banks these days can give a single penny of interest after a year, and PayPal offers a mere 5 or 10 dollars for getting new members to join. That’s a joke, even more so after the recent period of high inflation.
Crypto has been a lifeboat for many individuals. Though many crypto assets have a volatile price history, well planned crypto investments have contributed to higher living standards for many people across the planet.
DeFi investments often provide generous rates of return. The reader is invited to compare them with what banks offer these days.
Top DeFi coins and services include Avalanche, Uniswap, Aave, Fantom, and THORChain.
Some DeFi links:
On the subject of possible passive income sources, metaverse land, in the form of NFTs, often combined with blockchain games, presents a modern way to advertise and do business. A clickable ad in a blockchain metaverse that automatically pays the owner in crypto, may be a way to augment one’s income, in a manner similar to banner ads on traditional websites. The use of metaverse land for advertising billboards and virtual 3D stores may transform the world of online business.
None of this information should be considered to be personal financial advice. Do your own research, and please don’t invest more than you can afford to lose.
Across the globe, individuals who currently lack banking services are able to download wallets to their mobile devices, and transact with digital assets. Ease of transactions for small businesses and high interest lending and financial services, have the potential to help lift millions out of poverty.
Crypto is the future of financial distribution and exchange. As crypto technologies continue to improve economic efficiency, we can expect to see a decrease in poverty in the coming years.
Designing, developing, building and maintaining Web 3 infrastructure, is a massive, historical endeavor, especially because it is taking place alongside the development of metaverses, G5, and other advancements in technology. These changes present huge employment and business opportunities, to those with tech skills in the hardware and software industries, as well as to educators, influencers and information providers.
The demand is there, for people to join in creating the rise of Web 3!
Moderators and customer service representatives may be an in-demand job for decentralized social media, gaming, metaverse and NFT communities.
For example, popular NFT launches can get tens of thousands of followers on their social media accounts. There is a need for customer service reps to answer questions and take care of these followers.
In the NFT and metaverse world, a lot of the advertising and customer service still takes place on Web 2 platforms such as Twitter, Telegram and Discord, though there’s a very good chance that it’s only a matter of time before their Web 3 counterparts take a larger slice of that pie. When a customer has difficulties, it’s great to assistance. Even better when it’s a real person and not AI! From my own experience, it I got very good, fast service on Telegram from the metaverse company TCG World. Unlike with PayPal, which was super difficult to contact on the phone, I received quick, clear answers to my questions from the reps at TCG World, even at times when their Telegram group was crowded with many simultaneous users. It’s great to see Web 3 services in action!
From fine art to music, books to theater tickets, NFTs are transforming the market, and opening doors of opportunity to artists around the world.
The old Web 2 model for rewarding artists was all to often copy and paste, without an easy means of providing adequate financial exchange to creators. NFTs and crypto payments offer methods to remedy this situation, by providing a direct connection between artists and consumers of art, with direct exchange of funds for creative works. Depending upon the way in which the art is marketed and distributed, this can often occur without a middleman.
For live performances, NFTs are the perfect solution to ticketing, because they can be more easily be sold to individual purchasers, since a limit of one ticket per crypto wallet makes scalping large numbers of ticket far more difficult. This can be the case, even if a scalper uses multiple wallets as a way to try to acquire additional tickets, because there can be additional criteria for the manner in which tickets are distributed, for example linking a history of fan engagement and support, on social media, to wallets that are allowed to purchase tickets.
For more information on NFTs, you can read our web page on the subject:
Large, centralized, corporate social media platforms, such as Facebook, are notorious for their history of abusing and profiting from their users, by selling information about them (along with censorship, spying, propaganda, and other manipulation). These are the same users who built the great social media platforms, by providing personal information, social network engagement, and online content. The vast majority of this interaction was done without financial compensation, though the owners of these corporations were wealthy oligarchs.
Decentralized social media, gaming and metaverse platforms, allow users to opt in or out of sharing their private data. Those who choose to opt in can monetize their information directly. This new type of social media offers possibilities of distributing ad profits to users, together with additional incentives to those who provide content or invite new users, potentially providing extra income sources to millions. While it remains to be seen just how much money there is to be gained by the average user of Web 3 platforms, it seems worth investigating. Post your content, participate, and earn crypto!
For more information on Web 3 social media and gaming, you can read our web page on social and games:
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