5 Income-generating blockchain opportunities
As many of our long-time readers know, we are big proponent of diversification as the key to financial freedom. When we used the term “diversification,” we are not simply referring to having a balanced portfolio. While this is important, we also believe that diversification across many areas of life can have amazing benefits. It’s a superpower that catalyzes opportunity and eliminates the power that one person, or one company, or one decision maker can have over us . And the jaw-dropping rise in this market has created an enormous amount of opportunity to create new, diverse income streams. If you already have skills that are in demand in the new economy, you already have everything you need to get started. If not, these skills can be learned quickly and cheaply online using a wide variety of resources. (For instance, Altucher Report subscribers have complimentary access to James Altucher’s guide on How to Make $2,000 in a Weekend.)
In this list, we’ll provide a short overview of five examples of income-generating skills currently in demand from the growth of digital currencies.
Income Generator #1: Organize an Educational Event
With the growth in digital currencies, interest in events providing education on digital currencies is skyrocketing. There isn’t a week that goes by without a big cryptocurrency conference happening somewhere. On a smaller scale, meetups allow people to find and connect with other people who share similar interests. Not only will this expose you to other people who are looking to capitalize within this industry, but it can also generate profits for you if done correctly. If you can organize an event that offers enough value, you may be able to profit by selling tickets to your event. Otherwise, you can potentially generate revenue by partnering with a local bar or restaurant to host the event in exchange for a percentage of drink or food sales.
In any case, the opportunity to network with other people interested in digital currencies could result in finding your next opportunity — or developing contacts you can leverage in the future.
Income Generator #2: Publishing / Blogging
With the growth of digital currencies, the demand for quality content has also exploded.
Reliable information on cryptos can often be hard to come by. So many people trust unreliable sources for digital currency information, such as Reddit or Twitter. If you’re interested in cryptocurrencies and you enjoy writing and research, there are many opportunities for publishing and blogging about this sector. Not only can you make money from blogging (through
selling ads or contracting work), but you may also find your next job. Many of the top hedge funds and VCs employ researchers to investigate investment opportunities. Through blogging, potential employers can review your unique perspective. Plus, you’ll have the opportunity to develop a track record of publishing your own opportunities in the cryptocurrency space.
Income Generator #3: Consulting
As demand from large and small corporations grows for blockchain applications, businesses need people knowledgeable about blockchain. Many companies are currently experimenting with small proofs-of-concept to find ways to capitalize on blockchain technologies. If there’s a particular use case for blockchain that interests you, read up on it and reach out to industry
leaders in the space. You can also find opportunities by attending conferences or developing free content that promotes your unique perspective and services you can offer.
Income Generator #4: ICO Advisory Services
In the past year, over $3.7 billion was raised for new digital currencies. Although funding for initial coin offerings (ICOs) cooled by the end of the year, their success in 2017 proved the viability of crowd funding on a large scale, we expect that in the years to come, crowd funding will continue to create an abundance of opportunities. That is, because these campaigns are complex operations requiring a wide variety of skills. So if you have experience in web development, digital marketing, social media/community management, design, or blogging, you could offer your services.
As an added bonus, many of these campaigns compensate their contractors in digital currency and free tokens. This means that if you can help a team with a successful round of fundraising, the upside potential can be quite lucrative.
Income Generator #5: Smart Contract Developer
This is the most technically complex opportunity on the list. But it’s also the most lucrative
demand for developers with smart contract/blockchain development skills is exploding. As blockchain becomes more ingrained in business practice, demand for these skills is estimated to grow substantially. Now, developing for smart contracts is notoriously unforgiving. Once a smart contract is deployed on the blockchain, it can be difficult (if not impossible) to correct errors.
For this reason, experienced smart contract developers command some of the highest salaries of all software developers. These are the guys who know all the ins-and-outs of the craft.
However, because the industry is so new, there’s still an opportunity to get in with a level playing field. Therefore, if you think you can make things happen through all the criteria listed above good luck.