Top 7 Income Streams In Web 3.0
If you want to create a mainstream or passive stream from Web 3.0, here are seven ways to do it.
- Cryptocurrencies
Experts predict cryptocurrency to be the currency of the digital world. From selling and purchasing to trading and investment, all financial domains in Web 3.0 and the metaverse will most likely use crypto coins instead of fiat currencies.
That is why many big companies are either backing a cryptocurrency or investing in minting their own cryptocurrency. For example, Facebook is creating its own crypto coin known as DIEM, which will be the native coin for Facebook’s own metaverse.
You can invest in upcoming crypto coins or buy some. There is a potential to yield high profits when metaverse launches and the demand for the coins increases their value.
- Crypto Mining
Crypto mining is not an investment, but you can still receive high rewards by getting involved in this process. This process allows you to earn high rewards only by verifying transactions on blockchains such as Bitcoin, Ethereum, and more.
Crypto mining is how blockchains around the world generate digital assets. Therefore, if you can become a verifier, it will help you back some income as a side gig. The best part is that you do not need to be a blockchain expert for this. Furthermore, you will only need a few computers set up, and you are good to go.
A quick tip here is to invest in an opportunity after careful research. You may also want to familiarize yourself with various graphic cards. Nvidia graphic cards are definitely worth looking into.
- Earning by Airdrops on Web 3.0
Airdrops are another efficient way to start making money in Web 3.0. An airdrop is an instant where a blockchain decides to give away free coins or tokens to its community. The purpose behind this activity is to create awareness about the token or promote a specific project.
You can get free tokens and hold on to them. You may be able to yield high profits in case the price of these tokens increases in the future. However, it would be best if you researched to find reputable blockchain projects for airdrops, as there are many scams happening out there.
One of the best ways to stay on top of airdrop trends is to participate in blockchain communities. Connecting with like-minded people and blockchain aficionados will help you stay updated on the latest trends and upcoming airdrops.
- Non-Fungible Tokens (NFTs)
Non-fungible tokens are digital assets that allow you to convert a real-life asset into its digital version and own it. You can create an NFT for artwork, paintings, real estate, property, landmarks, music, character, etc.
If you do not have a unique real-life asset, you can actually generate and buy NFTs from various NFT minting websites. There are many popular NFTs, like Bored Ape Yacht Club, which was sold for a profit of more than $2.25 million. However, the world’s most expensive NFT series was sold for over $91 million.
- Play-to-Earn Games
Web 3.0 will offer the most immersive gaming experience on a global scale. Game development companies are already working on building play-to-earn games, and some of them are already available in the market.
A play-to-earn gives you an opportunity to earn cryptocurrency for playing a game. You can complete challenges or reach new levels and earn crypto coins. Similarly, you can even battle it out with other players online and win their coins. You will later be able to convert your crypto coins into cash.
Some of the most common games using the earn-to-play model include Axie Infinity, Splinterlands, and Gods Unchained. There are platforms like The Sandbox that allow you to monetize assets and gaming to create a return on investment opportunities.
- Platforms Lending Crypto
Crypto lending platforms refer to online portals allowing you to lend crypto coins to other borrowers. However, you make profits or generate income by asking borrowers to pay interest. This is a great way to create a passive income stream while you continue your day job.
You can even diversify your investment portfolio with this strategy. While there are several ending platforms, you must be careful when choosing the one you want to use.
- Seeking Employment in Web 3.0
Once Web 3.0 arrives, you will be able to find a job in this digital domain. You will not only be able to explore new exciting industries but also earn a decent income while owning 100% of your wages. When the time comes, you will find work by applying for jobs in startups, job postings, and by attending crypto events.