Influencers: Here’s how to profit from blockchain – BeinCrypto

According to Fuad Fatullayevfounder of Wewaycontent creators and influencers can get more out of Web3.

Over the years, the use of the Internet and social networks has reached quite impressive levels of attendance. Especially since the current growth has not yet faded. Today, people no longer simply use the Internet as a way to communicate with each other or find information. Indeed, the web is now an integral part of our lives, separating virtual life and life in the real world.

These online lives often consist of posting photos, videos, playing games, working, learning, engaging in daily routines like delivering food, buying clothes and more. However, the technology is constantly evolving, and new things like blockchain are increasingly being adopted.

The evolution of the blockchain right now is happening in a way that it will soon be an integral part of our online experience. However, it is also a method to earn money and give users an opportunity to regain ownership of their personal data and funds. The problem with this is that most people, including influencers, view blockchain as entertainment technology, which robs them of valuable opportunities.

What can blockchain bring to influencers?

Blockchain technology is bringing more and more benefits to influencers and their fans. By using cryptocurrencies, digital money that runs on the blockchain, people can better control their funds. Additionally, the blockchain enables instantaneous transactions, even when international.

The blockchain is completely transparent and there are no intermediaries such as agencies that act between influencers and their fans. This technology also makes it possible to earn money using decentralized banking services. As a result, there is an entire sector dedicated to this, called decentralized finance (DeFi). It consists of projects that allow tokens to be deposited into smart contracts and earn passive income over time simply by keeping the tokens locked.

If creators choose to monetize their content, they can use created platforms to post videos, for example, and charge users a nominal fee for viewing the content. With enough viewers, it can even become a considerable amount. Meanwhile, the payouts aren’t really felt by viewers, often being pennies, or less.

A trust in the blockchain allows influencers to use simple means to generate income. Another example is creating their online store, where they can sell personalized products and services. These goods and services could be much cheaper because content creators and influencers would not go through intermediaries, which would cause a significant reduction in profits.

Stars who are already shining on the Web3

Over the years, as blockchain grows, it continues to attract countless influencers, celebrities, and even entire businesses. An example is Tesla, Elon Musk’s electric car company, which began accepting bitcoin payments in early 2021. Eventually discontinued due to environmental concerns, however, Tesla and Musk kept all purchased parts. Elon Musk is also known for his support of another recognized cryptocurrency, Dogecoin.

In late 2020, PayPal introduced cryptocurrency support, then in 2021 eBay added support for non-fungible tokens (NFTs). Many sports stars, actors and actresses, music stars, etc. have already joined the blockchain and cryptocurrency industries. Some examples include 50 Cent, Paris Hilton, Gwyneth Paltrow, Bill Gates, Floyd Mayweather, Kanye West, Mike Tyson, Saquon Barkley, Russel Okung, David Beckham, Ashton Kutcher.

Tesla and PayPal are one of the most notable examples of companies using blockchain, but did you know that Microsoft has been accepting Bitcoin for use in its online Xbox Store since 2014? Then there are companies like Home Depot, Starbucks, and even Wikipedia, which accept crypto donations.

The upward trend in the entertainment world is set to continue with more influencers, content creators joining the blockchain. The world will soon see many more blockchain products: music, movies, games, art, advertising and marketing. This will be achieved through the involvement of a growing number of major brands, companies and celebrities.

Influencers and Web3

Blockchain-based technologies allow influencers to create a new future, based on a deeper relationship between brands, influencers and their communities. It’s a harmonious symbiosis that allows celebrities to gain audiences and new ways to earn money. For the blockchain, it is an opportunity to demonstrate its seriousness as a technology and to increase the level of confidence in it, thus accelerating development. All this gives us hope for a massive adoption of this technology in the near future.

About the Author

Influencers Heres how to profit from blockchain BeinCrypto

Fuad Fatullayev is founder and CEO of WeWay, an entertainment ecosystem as well as an NFT marketplace for creators, celebrities and their fans. Fuad is a professional economist and serial fintech entrepreneur with extensive experience building and growing startups in the UK and UAE. Since 2017, he has actively immersed himself in the blockchain industry.

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Influencers: Here’s how to profit from blockchain – BeinCrypto


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