Except you have spent the last two years living beneath the Atlantic ocean or meditating on some isolated oriental mountain, you must have heard something related to web3 or web 3.0, to use the other term, “the next phase of the internet.” The online buzz around web3 is more than a million bees buzzing around their queen. As you know, wherever the attention is, there is money to be made. That is why I am going to show you what web3 is.
First, we’ll discuss some of the essential features that are causing the buzz, and then I’ll tell you how the intelligent people are already making a shit ton of cash from web3 and how you can get started building a stable income from this new technology.
Ready? Let’s go!
Web3? Wait, We Had Web 1 and Web 2?
To understand web3, you must know what web 1.0 and web 2.0 are. But, don’t worry; I’ll be fast.
Image by @_ted_hunt
Web 1.0 and Web 2.0
The internet was invented and birthed on January 1, 1981. The first phase of the internet is called web 1.0 and describes the technology used for publishing and consuming internet content. Web 1.0 is a one-way communication system that provides a range from the publisher side and little to no avenue for consumers to pass messages back to the creators. It was only a matter of time before internet technology developed beyond the one-way system. Welcome, web 2.0.
Web 2.0 was birthed with all the features and promises of web1.0 but had a stronger appeal. So what makes web 2.0 different? Social interactions. Web applications. Web-oriented architecture. They completely changed the internet forever. But today, we are entering a new phase of the internet. Welcome, Web3!
Web3
Web3 is the new and latest phase of the internet that is trustless, permissionless, and decentralized. Web3 is powered by blockchain technology; data are stored on the blockchain instead of servers as in web1 and web2. In web3, consumers have the chance to earn profits too.
You can learn more about Web3 here.
Now that you know what it is, the most critical knowledge is how to invest in web3.
How to Invest in Web3
The possibilities of web3 are endless. Look at what we are achieving with an internet that is primarily controlled, regulated, and has a lopsided income system. Imagine a decentralized internet with no limitations, no control, and no regulations. There are seven paths for you if you intend to start making profits from web3; you’ll need a position to join those who are making profits.
1. Build and Launch Your Web3 Project
Remember when I said that creators make money from the internet? You can invest in web3 by investing your time, skills, and financial resources into creating a web3 project. Today, the world is getting more connected, and there is no limit to what kinds of interactions people will have.
For example, would you have imagined a virtual world where interaction is seamless and even better than some physical interactions? But the metaverse is going to offer that. In the web3 age, you can become a creator that earns enormous profits by simply putting out a platform or project that millions or billions of people want to use.
Take another example; Twitter spaces. That bright idea has increased engagement on Twitter in the last few months. Imagine when a brilliant product is powered by a blockchain, complete with payment and earning methods!
Do some research and, if you can, create something for web3.
2. Invest in Web3 Stock
Web3 stocks are stocks of companies actively investing in or creating web3 projects. These companies are collectively putting in massive funds to develop web3. So, you’d expect that they are trying to outdo one another to make profits. Nvidia, Advanced Micro Devices, Meta (Facebook), IBM, Fastly, Coinbase, Twitter, and Block are some companies primed to lead the world into the web3 age.
Now, I’m not giving you financial advice, but I’m only showing you the possibilities of making profits from web3. So, if you want to invest in web3 stocks, do your research and take some important financial lessons before diving in.
Ready for the next? Let’s go on!
3. Fund Web3 Projects
If you have the financial power to invest, you should consider investing in web3 projects. As I mentioned earlier, there is a wave of creations and projects taking over the world today. Web3 is here, and there is no doubting it. These projects focus on cybersecurity, blockchain performance, metaverse, artificial intelligence, machine learning, virtual reality, augmented reality, and virtual interactions. All of these areas are going to explode as they gradually adopt blockchain.
For example, have you heard of PKT and Tartle? They are blockchains that allow users to sell data packets without restrictions. Many of these web3 projects have bright prospects, and with some research, you can find the following big companies before they even take off.
In addition, web3 platforms such as Decentraland and Sandbox are constantly seeking new partners and investors. If this suits your style, you should consider partnering with these platforms. There are also web3 research projects exploring more ways to evolve web3 in the future. More investment opportunities, right?
There is also another way to position yourself to invest in web3: cryptocurrencies and digital assets.
4. Invest in Web3 Tokens / Cryptocurrencies
Here's my favorite way to invest in web3. Digital assets powered by blockchain technology will be great investments. In late 2021, metaverse cryptocurrencies such as SAND (Sandbox) were among the best-performing coins on the market. The value of cryptocurrencies native to metaverse projects and the blockchains powering them is expected to increase in the coming days.
There are dozens of cryptocurrencies powering metaverse platforms as native tokens, and they are suitable for investment. Remember that the value of some of these cryptocurrencies will grow, a lot will fail, and early investors will be positioned for massive profits.
5. Digital Assets (NFTs, virtual land, etc.)
One of the biggest NFT projects today is BAYC. BAYC has a range of Bored Ape NFTs among the world's most valuable NFTs. Holders of BAYC NFTs can flip them for some heavy amounts, making these NFTs highly valuable. Other valuable NFTs are the CryptoPunk, the Beeples (Sold for $69 Million Dollar), and Clock's.
NFT flipping is a skill akin to stock flipping and is a great investment choice in the web3. NFTs are also valuable as they are used as digital assets across many web3 platforms such as Decentraland and Sandbox. Holders of certain NFTs get to enjoy exclusive privileges on these platforms.
6. Invest in Web3 DAOs
There are also other digital investment opportunities such as DAOs (Decentralized Autonomous Organization) in web3. DAOs are groups of people focused on a goal and code the group's rules into a smart contract.
One of the biggest tech DAO today is Developer DAO. Developer DAO is focused on developing web3 and earning profits for its members. The Developer DAO 'onboards, educate & supports web3 developers, and fosters & builds web3 tools & public goods'. Dozens of DAOs are focused on a wide range of goals. You can invest in any that fits your investment profile and goals.
7. Invest in Web3 Education
Another way to invest in web3 is to fund or launch web3 educational platforms. The demand for web3 professionals and skilled workers is growing, and more people are going to get on board this beautiful project in the future. You can position yourself as an early investor and earn profits in the future. You can, for example, fund online schools that teach web development, web3 principles and processes, and even research to advance web3.
Some of the hottest Web3 Edu platforms right now are Buildspace (Backed by YCombinator, al6z, Founders Inc.), Pointer (Backed by YCombinator, Orange DAO, Shaan Puri, Amajad Masad etc.), CryptoZombies (by Cleverflare).
Find more web3 Edu platforms on Learn Web3 Dev.
Before investing, you need to research the industry to obtain strategic data to inform your decisions. Then create an investment plan and stick to it. Finally, remember that cryptocurrency investments are as risky as any financial investments; be diligent, vigilant, and always out to protect your funds.
Closing thoughts: The future of web3
Web3 is still a new concept that many people find difficult to comprehend. It is also a concept that we know little about its future. However, one thing is clear, web3 will impact nearly every area of the internet and change the concepts that we know today. We also expect that the competition will be stiff among investors. Again, take a cue from the late 2000s when investors designated massive funds into tech companies.
I'll leave you with this: web3 is here, and we are transitioning into that age whether you like it. You can get caught in the eventual flood or find an early safe ship to navigate the waters, but be assured that no one will be left behind. You might only be late to the party and get to eat the crumbs. We don't want that. So you see why you should consider investing in web3?
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