The Next Phase
I have often spoken of the opportunities that exist within the world of WEB3, DeFi, and Crypto in general. I have referred to these opportunities and ecosystems as the incentivized economy. That’s how I have always envisioned WEB3. The benefits of a reward-based, incentivized WEB3 ecosystem just make so much sense. I know WEB3 can be divorced from incentivization. However, they work so well together.
WEB3 and incentivization are the perfect partnership, so why not harness the power of this creative synergy? Off the bat, WEB3 opportunities can appear to be somewhat limited. However, I want to draw attention to the aspect of potential. This is perhaps what many struggle to comprehend, especially when it comes to Hive. I often write about Hive, so, I am familiar with the typical complaints of new users:
- It’s too difficult to understand
- My posts are not generating views
- Earning potential is too low
That being said, accounts receive significant views and generate thousands of dollars monthly. Furthermore, many of these accounts are also generating layer 2 tokens, which is indicative of understanding and harnessing the Hive dynamic. Sure, these cases are a minority, but isn’t that always the case when it comes to success? Acceptance and arrival are not necessarily indicative of success.
That’s merely the first step that opens up the door to potential within the ecosystem. Creating an account and producing content does not simply bring about financial rewards. It’s a process of consistency and developing a presence over time. This is of course related to SocialFi WEB3 platforms. There are many expressions of WEB3. However, when it comes to the aspect of monetization, SocialFi is a predominant force.
One of the most obvious strategies when it comes to SocialFi is to gather and accumulate tokens throughout the bear market, as well as the bear market. Choosing then to sell all or partial holdings into the frenzy of a bull market blow-off top. Many of these tokens experience enormous gains since their market cap valuations are so low, especially in the heart of a bear market.
For example, Torum launched in 2020 with a token price (XTM) of $0.05. The XTM token then continued to rally throughout 2020 and 2021 with a bull market peak valuation of $2.45 according to CoinGecko. Everyday users who spent a couple of minutes on the platform each day would have racked up a sizeable amount of value by accumulating XTM throughout 2020 and 2021. The HIVE token peaked at approximately $3.41.
Utilizing these opportunities correctly is equally as important as the consistency required to make an impact. These ecosystems will release value to those who make an impact. It’s not a one-size-fits-all idea where everyone is equally rewarded. The important question to ask is:
What is the impact of my contribution?
Unfortunately, life is never fair, and so some might experience an exaggerated level of incentivization, while others, providing enormous value proceed to fly below the radar. However, over time, things tend to average out. Some of the most exciting opportunities within the world of SocialFi are as follows:
Over time, one’s contribution tends to carry more weight, and so the element of incentivization tends to increase over time. Once again, it’s a process. Modern society is so heavily opposed to the concept of process that many of the most beneficial opportunities are ignored. However, there will always be those who see a gap and choose to harness it as best as they can.
Final Thoughts
WEB3 is rife with potential and opportunity. However, it’s going to require a dedicated attempt. Half-hearted efforts and contributions are likely to be rejected by the unwritten laws governing WEB3 and SocialFi. I am sure you know the story… there’s no such thing as a free lunch! All the best and I will see you in the next one!
Disclaimer
First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.
This article was first published on Sapphire Crypto.