The Practical Guide to Earning Web3 Tokens without Investingby@thezainabowolabi
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The Practical Guide to Earning Web3 Tokens without Investing

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Zainab Owolabi writes about opportunities for creatives in Web 3.0 through dapps. Different dapps may have different terms of use which may contradict what you know of the blockchain-powered applications (dapps). Dapps are predicted to have some of the following: decentralised platform that controls your content (no central authority) Allows for data security (no selling of your information for ads) Puts no censorship on your content* Will enable you to earn for your content.

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“Don’t wait for the right opportunity: create it.”—George Bernard Shaw.


Sometimes we make the mistake of waiting to find the perfect opportunity to change our lives for the better. But what if we can create the opportunities we are looking for? Maybe you don't have to wait till you find that job or complete your studies. Perhaps you can start now, with what you have.


Before I go on about creating opportunities for yourself, this is not a motivational piece, and I would like to keep it that way. However, I hope you have found a reason to complete this technical article as it talks about opportunities for creatives in Web 3.0.


Who should read this article?

You should keep reading if you belong to any of these categories:

  • Beginner to professional creators who are looking to monetize their content.
  • Small business owners/entrepreneurs looking to gain a new audience and earn simultaneously.
  • Anyone looking to start a new career path and share their new knowledge.


  • from Zainab Owolabi on Medium

    from Zainab Owolabi on Medium

Key Objective

Now that you know who the article is for, you should see below the different sections of the article:

  • What are Web 3.0 dapps?
  • What are the types of dapps?
  • Three dapps for publishing content that rewards you with tokens (practical)
  • Why should you use dapps now?
  • Bonus: Links to:
  • [ ]How to set up Metamask
  • [ ]How to convert STEEM token to cash
  • [ ]How to convert Ethereum to cash
  • [ ]The opportunities in the blockchain industry

What are Web 3.0 dapps?

Dapps stand for decentralized apps, and if you have read the dummies guide to Web 3.0, the word ‘dapp’ would no longer be strange to you.


from Zainab Owolabi on Medium

from Zainab Owolabi on Medium


Dapps are predicted to have some of the following characteristics (these are still predictions as not every decentralized platform has all the characteristics combined):

  • Has no central authority that controls your content

  • Allows for data security (no selling of your information for ads)

  • Puts no censorship on your content

  • It will enable you to earn for your content


However, have it in mind that different dapps may have different terms of use which may contradict what you know of the blockchain-powered applications (dapps).

For example, Peepeth is a social media dapp that moderates content. If your content isn't in line with their term of use, it won't get published. But currently, once your post is published, it remains on the internet forever (it may change over time)


I want you to remember the times you have had to access Instagram on your browser because you uninstalled the app. Instagram on the web is called a web app, and this scenario is no different from Web 3.0 apps. Several dapps in development are only accessible through a web browser. If you wonder why they are called dapps and not dsite, they are web apps and not websites.


from Zainab Owolabi on Medium

from Zainab Owolabi on Medium

What are the types of dapps?

Below are classes of dapps and corresponding examples.

Social networks

Examples include BULB, SteemIt, Sapien, etc

Exchange Services

Examples include sushiSwap, pancakeSwap, Radium, UniSwap, etc

Messaging

Examples include ySign, Obsidian, Riot, etc. Web 2.0 alternatives are Whatsapp and Facebook messenger

Storage

Examples include storj, Sia, Filecoin, etc. Web 2.0 apps example include Dropbox.

Insurance and Banking

Examples include Cashaa, Everledger, etc.

Streaming (Video and Music)

Examples include UjoMusic, Maestro, etc.

As you have seen, there are several dapps categories, but in this article, we focus on social networks because that is built precisely for creators.

Three dapps for publishing content that rewards you with tokens

This section will be very practical, so I suggest you have your laptop nearby; if you don't have a PC, you can use your smartphone, but it is more convenient with a computer. Also, note that two of the platforms mentioned on this list reward users directly with tokens instead of other Web 2.0 platforms. Let’s go!

1. Steemit [block-chain based social media dapp]

As the title suggests, Steemit is one of the platforms that rewards its users for their content. Steemit's primary goal is to reward those who contribute value to its community by rewarding them with STEEM cryptocurrency.


from Zainab Owolabi on Medium

from Zainab Owolabi on Medium


You can read SteemIt’s newcomer’s guide to learn more about the platform, but I will be giving you a rundown on how to sign up and earn with SteemIt.

Why SteemIt/Steem?

  • Payments for content with STEEM (it is a liquidated cryptocurrency pegged to the US dollar).
  • It can be your go-to source for news and niche content.
  • You don’t have to invest to earn


from Zainab Owolabi on Medium

from Zainab Owolabi on Medium

Sign up to Steemit

  • The very first step is to go to SteemIt.
  • The signup process includes four phases. Start by inputting your details and verifying your email and phone number to pass the first stage.
  • Next, copy your password and keep it safe because you need it to log in.


from Zainab Owolabi on Medium

from Zainab Owolabi on Medium


  • You will need your posting key to log in because Steemit doesn't advise users to sign in using their passwords (private keys). Find your posting key on the page right after completing the sign-up process. Navigate to the ‘posting key’ section, copy your posting key, and keep it safe. Let's move on to posting and earning with SteemIt.

How to earn STEEMs on Steemit

Share a post or comment: Search for steemit.com, and you will land on the page where you can locate the write icon (pen). You might have to sign in again, so copy your posting key from where you have stored it and paste it into the password bar.


Log in and tap the write icon. You can simply copy the content you previously posted elsewhere or start a new content, your choice!


Upvote: You earn when someone upvotes (likes) your content on the platform


Competition: Steemit blog and some other communities on the platform host competitions where you can participate to earn.

Renting out your Steem Power


Note: There are three tokens accessible to you on the STEEM platform, including STEEM, STEEM Power, and Steem Dollars, and you can learn about the difference between the three here.

How much can you earn on SteemIt?

Through your post upvotes and engagement, and other indirect means on the platform, you can earn as low as $1 or as much as 500$. It depends on how consistent you are with taking advantage of opportunities on the platform.

2. Peepeth [The Values Platform]

The social media dapp powered by the Ethereum blockchain is an alternative to the famous Web 2.0 Twitter app where you can peep what is on your mind. However, whatever you say should be positive because Peepeth is a moderated dapp.


from Zainab Owolabi on Medium

from Zainab Owolabi on Medium


The slogan reads ‘Let’s make social media a force for good’, and only peeps that go along with the platform's terms of use get published. However, once you have posted your content, there is no way to delete it.

When it comes to Peepeth, imagine a Twitter app void of trolls and harassment. So, is it possible to earn with a peep? The answer is yes, it is. Read on to find out more.

Why Peepeth?

  • The security of your data is maximised
  • Hateful posts are not allowed
  • There are no ads on the platform
  • Earn Ethereum when other users reward you with a tip
  • Sign up for free

Sign Up to Peepeth

Search Peepeth.com online to get started. If you don’t want to use an app that is moderated like Peepeth, you can use the other alternatives suggested by Peepeth.


However, click the button if you would like to proceed with Peepeth. Next up, you need to connect your Ethereum wallet to the app, so you need to download Metamask if you haven't and set it up.


from Zainab Owolabi on Medium

from Zainab Owolabi on Medium


Once you are done, you will have to reload the Pepeeth page you were on. Click get started once again, and now your Peepeth would have connected to Metamask and are ready to go.

How to earn on Peepeth

The one way to earn on Peepeth is by getting tips from other users. The amount you can make depends on the amount of tip they wish to offer you, depending on the content's value.

As a suggestion, you can copy the content that you have posted on Web 2.0 platforms to get a new set audience and probably earn too.

3. BULB [A crypto-based blogging platform]

You most likely haven’t heard of BULB as it is still in its beta stage. The goal of BULB is to reward your ideas, passion for creating content and engagement with BULB tokens. The BULB token is a cryptocurrency developed on 19th December 2021 and isn’t liquidated (can’t convert BULB to cash yet).


from Zainab Owolabi on Medium

from Zainab Owolabi on Medium


Before you roll your eyes, I would like you to remember that BULB is new, and you will never run at a loss for posting your content on it.

For example, after about 24 hours of signing up for BULB, I got 37 reactions and made 4,389 BULB tokens. I am not saying you will earn the exact thing, but you can try the app out; it is up to you.


These three factors determine the value of overtime:

  • Use case (the purpose behind the cryptocurrency)
  • Scarcity and demand (how difficult it is to access the token, which means the lesser in circulation, the higher in demand it becomes, and the higher value it will have. )
  • The value people attach to it.


Over time the more prominent the BULB community is, the more valuable the BULB token might be. Although this is uncertain, you may consider the engagement your article will get on the platform because, as a creator, you should never stop sharing.

Why BULB?

  • Data privacy
  • No Censorship of your content
  • No commercialisation with your data

How can you sign up for BULB?

  • Search for bulbapp.io
  • First off, you need a wallet to sign up to BULB, and on the web app, it is recommended that you use Phantom wallet. Read how to set up a Phantom wallet (recommended by BULB).
  • Once you have already created a wallet, the next step is to connect the wallet.
  • Click the connect Phantom button.
  • Follow the four steps to sign up. The shortlist code to use is: c6039


from Zainab Owolabi on Medium

from Zainab Owolabi on Medium


  • Once you are done, you should input the password of your phantom app wallet, and you are in.
  • Start writing on the platform to earn BULB tokens
  • To sign in again, simply click the ‘connect phantom wallet’ tab, and type your password again.

The BULB dapp is intuitive and easy to use. Read the white paper to get a full scope of the app and how much you can earn. However, if you are too busy to go through it, go further to get BULB basics.

How to earn on BULB

Writing: Creators can earn tokens by simply sharing their articles or commenting on others' content. You can post other forms of content like imagery, designs and videos by embedding them into your article.

When your content gets more interactions through comments, upvotes, and reads, you are more likely to earn BULB points.


Reading and Upvoting: When you read, comment and upvote others' posts, you will also earn BULB tokens.


Note: Writers earn the highest, but to complete any action, you need to have BULB energy, and you only have access to 100 BULB energy per day.

How much can you earn on BULB?

There are currently three BULBmojis available on BULB for reading, writing, and reacting, which later translate to BULB points. To earn BULB tokens, there is a formula to use, and this formula requires the allocation pool, which is the total of BULB tokens disbursed to all users each week. The amount you can earn is equivalent to (your BULB point/total points accumulated by every user * allocation pool)

Why should you use dapps now?

While I was writing the dummies guide to Web 3.0 and stumbled on dapps, I thought to myself, my next article will be on this. I was surprised there were platforms where I could post as a creator and get paid. I wanted to know the existing ones, so I promised to research them, use them, and share the process with you.


Other reasons to use dapps aside from getting paid include:

  • Being an early user
  • Since they are early, it would be easier to earn your reward. More competition makes it more challenging to achieve a substantial amount of tokens.


from Zainab Owolabi on Medium

from Zainab Owolabi on Medium


Bonus

  • Read a guide on how to set up the Metamask here.
  • Read a guide on how to convert your earned STEEM tokens to cash here
  • See how to convert Ethereum tokens earned here
  • Read on the potential opportunities within the blockchain here

Conclusion

Now that you have learned to create your opportunities, you should have it in mind that if you would like to earn a high income or become a top player on these platforms, you would have to stay consistent.


For a platform like Peepeth, you have to figure out a way to get people to drop their money for you. However, Peepeth may reward tokens for getting likes on the app in the future.

These apps mentioned above are under development, and it would be great to keep an open mind. You may also want to use these apps to promote yourself, and it is all up to you! I have played my part by digging these apps up for you to learn about them. Will you play yours?


Originally published here.



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