How to Make Money with Web3 in 2024

Make Money with Web3

Make Money with Web3 – We are going to see a reset of the internet and a redistribution of wealth to a new group of people with the arrival of Web3.

The vast riches that the internet offers is currently controlled by a small number of “big tech” businesses, but this is set to change.

The core idea behind Web3 is to transform the internet from a massively centralized network of information into a decentralized ecosystem in which each individual has full ownership rights.

The general public would genuinely possess riches as a result, and the millions of online innovators would have instant access to financial independence.

So, how do you make money from all this?

How do you earn your own share of the Web3 pie?

Well, in this article, we’ll look at a few smart ways you can make money with the advent of Web3, especially if you’re in Nigeria.

Let’s find out.

Learn Web3 Skills

The fastest route to making money with Web3 is to become an enabler or contributor of the system.

However, at this early stage of Web3, there is a huge shortage of skilled professionals in Web3 technologies.

These skills include artificial intelligence, cryptography, big data, Blockchain, etc.

If you want to make money with Web3, then you have to acquire some of these highly sought-after skills.

The good news is, there are a lot of free and cheap platforms to quickly learn any of these skills in a matter of months.

This presents a unique opportunity for those willing to switch career or those looking for a new challenge in the world of tech.

Invest in Web3 Based Companies and Systems

If you don’t have time on your side, but have the money to invest, then you have to invest as early as possible.

Simply invest in Web3 based companies that are building important systems or protocols that enable the growth of Web3.

These companies abound, especially in the crypto space, and when they go mainstream with Web3, investors will make a lot of money.

It’s still early days, so you can do your research to identify some of the top companies building important tools for the world of Web3.

If you invest early and invest well, it’s only a matter of time before you hit the goldmine.

Resell Web3 Infrastructure

Technology resellers are money spinners, especially in countries like Nigeria with poor technology infrastructure.

The biggest opportunity to make money with Web3 is to resell Web3 infrastructure to communities or areas with little or no penetration.

This would require a significant amount of investment to do, but the opportunity for profit is huge.

This is the exact business model deployed by many web hosting companies and domain registrars around the world.

They buy a bouquet of services and then resell them in smaller portions to individuals and corporate entities.

If you want to make money with Web3 by reselling Web3 infrastructure, you have to do your own research to find areas of demand and where you can fill a need.

Take for example, despite the widespread penetration of crypto exchanges such as Binance, hundreds of local crypto exchanges still thrive in Nigeria.

Why so?

Because these local crypto exchanges fill specific needs for their user by offering services or features not offered by other larger or international players.

You can do the same with reselling Web3 infrastructure.

Conclusion

The opportunity for Web3 is enormous.

Beyond leveraging the existing systems and infrastructure, people are going overboard to create products and services that people can pay for in Web3.

This is similar to the internet going full circle, and we are right at the beginning of it.

Only those who are ready and interested in owning a share of this huge Web3 pie would get ahead.

Don’t get me wrong. Web3 is positioning for the prosperity of all, but there are levels to these things.

There is wealth, and there is great wealth.

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