The dawn of the new internet age has given users various opportunities to earn extra income. Making money online is an excellent option for someone looking to earn an extra buck. Web3 presents individuals with more uncommon ways to earn money using the internet while also presenting opportunities to make more than one would typically expect to make online. One of the main aspects of Web3 is to help individuals build financial assets through tokenization, blockchain, etc.
10 Ways to Make Money with Web3 in 2024
Non-Fungible Tokens
Non-fungible tokens, or NFTs, are digitalized tokens whose ownership is recorded in the blockchain. These tokens can be sold or traded across different marketplaces, and they can be differently priced based on their rarity, whereas rare NFTs can be worth more. If you are an artist or a creator, you can create your NFTs and sell or mint them. NFTs also present a good investment opportunity, where you can buy them for a lower price and sell or trade them when their value increases, maximizing your profits.
Cryptocurrencies
If you are an investor or looking to begin your investment journey, you can invest or trade in various cryptocurrencies. These digital currencies work on decentralized networks while presenting as a secure method of investing or trading. Various exchanges and platforms on Web3 provide services for trading or investing in crypto while enabling you to profit through the price fluctuations of the currency you are trading. Cryptocurrencies can also be lent to others with an interest amount to help you earn more. Validating new transactions or generating new coins are different ways to generate extra income with cryptocurrencies.
P2E Games
Web3 has presented a new era of gaming. Thanks to the technology of Web3, gamers or users can generate income or revenue through playing games. Gaming companies and developers are designing games for Web3, allowing gamers to have an opportunity to securely generate revenue while playing games through tokenized rewards, assets, or NFTs. Some of the top P2E Games have helped gamers generate a full-time income by providing them with rare and tradable digital assets as game rewards. These games have also garnered a dedicated community of users who continue to play and look for rewards.
Airdrops
Airdrops involve launching and promoting tokens effectively to increase awareness or advertise new crypto projects. Airdrops can also help you earn money through referrals, where you can charge or be given a referral fee. You can even offer airdrop services to organizations or individuals launching their crypto wallets and looking to increase awareness while charging a certain fee. Airdrops can be advertised across different social media platforms, forums, and websites, acting as a way to increase users and a way for you to generate more income through the process.
Web3 Streaming
Content creators, musicians, etc., can now use services offered by Web3 streaming platforms to earn some money. These platforms enable users to watch live concerts, virtual 3D content, comedy shows, news, etc., through premium content subscriptions. Creators who use these platforms can charge viewers a ticket fee that grants them access to their content or shows, presenting as a great way to earn money while advertising content to a larger audience. Additionally, creators can earn money through in-app ads, pay-per-view, brand collaborations, etc.
Metaverse
The metaverse is a digital conceptualization that combines physical and virtual worlds, allowing users to have unique experiences while presenting various money-making opportunities. There are various ways to make profits in the metaverse, including buying and selling virtual assets like land, buildings, goods, etc. There are many real estate investment opportunities on the metaverse, just like in real life, where individuals can make huge profits from their investments through reselling or renting out their spaces. The metaverse is also a good platform for buying, selling, or trading NFTs, allowing sellers to gain significant profits through their transactions.
Content Creation
Content creators have multiple avenues to generate income, with some creators using content creation as their primary source of income. Web3 has revolutionized how people use the internet and has now also shaped the future of content creation. Creators can now publish or post their content on Web3 to form their community. They can also monetize their content through affiliate marketing, paid subscriptions, or even through incentivizing community ownership and direct support from community members. Web3 allows creators to express themselves, build a community of like-minded individuals, foster engagement, etc. while earning extra money.
Decentralized Advertising
Advertising on decentralized networks presents good opportunities for companies and individuals to promote products or services and make money simultaneously. Web3 is a decentralized network that allows advertisers to connect directly with an audience they want to sell their products. These networks also seldom charge advertising fees, as transactions are only made on the blockchain, allowing advertisers to cut down costs further. If you are an advertiser or want to promote your products or services, you can use Web3 while earning extra income.
Discovering Bugs
If you are skilled in technology or a developer, you can use your skills to explore vulnerabilities and hacks that Web3 applications or decentralized apps may have. Testing software to discover bugs, issues, and problems is an avenue developers can explore to earn a home in rewards like crypto or real-life currency. Decentralized apps require various rounds of testing to ensure they are as secure as possible and, therefore, offer paid opportunities to developers to help them look for any vulnerabilities in their software.
Community Managers
Various projects, including crypto projects, on Web3, hire community managers to act as public speakers, influencers, marketing agents, and product ambassadors, handle public relations, or run the community. As Web3 continues to grow, more and more projects are being created, requiring users to ensure its success in the Web3 space. If you are well-versed in management or enjoy creating content, you can offer your services to a project and get paid through tokens or real-life currency.
Conclusion
Web3 offers various ways for users to make money in 2024. Whether it is generating passive income through investments, earning extra money through games, or managing projects as a primary source of income, multiple opportunities exist in the space. You can play an essential role in shaping the future of the internet through participating in different projects or events in Web3 or by using it to discover new avenues for generating revenue. It is important to remember that although Web3 is known to be more secure, you must ensure that the opportunities you come across are right for you.
Harvi Sadhra is the CEO of Revir Media. He has over 10 years of experience in digital media and has been featured in many of the largest media brands on topics related to finance, stocks, money, technology, and more.