Ryan Ridenour

We cover the true meaning of what Web3 is, being decentralized in an increasingly centralized web and how it's changing the way creators rule the world. Defining what a defluencer and being defluenced as an "influencer" on decentralized social media. Once you do that you can consider yourself defluenced. read less
Web3 Monetization: NFT's vs Rewards S2Ep16
May 23 2023
Web3 Monetization: NFT's vs Rewards S2Ep16
Today Allen & Unkle Bonehead discuss the pros & cons of NFT's vs Voting rewards as a #Web3 monetization model. Hive upvotes PROS 1) If you build a solid network of supporters, you can sustain a long-term income 2) There are multiple ways to earn on the blockchain 3) Participants can monetize from post creation, curation, and comments 4) Beyond comment monetization, participants can earn by developing new dapps 5) The highest earning content is not about crypto 6) The more you earn, the more potential you have to earn 7) You can take your earnings and put it into savings with a 20% APY 8) You can buy HIVE and increase your earning power more quickly 9) No fees 10) On Hive, you can have ongoing income as long as you remain active CONS 1) Comment creators and curators are limited to 7 days for payouts 2) Whales and downvote cabals can drive away good content creators using bully tactics 3) There is a learning curve 4) It's hard work to find an audience for your content because you don't have algorithms helping you 5) There's no mechanism for choosing how much you earn --- NFT monetization PROS 1) NFTs give you the power to earn on a secondary market 2) You set the price for your NFTs, which gives you the ability to influence how much you earn 3) There's no limit to how many NFTs you can create 4) There are multiple blockchains that allow you to create NFTs (Polygon, Solana, Ethereum, Optimism, Hive, etc.) 5) It's fun to create NFTs 6) NFTs can be created in a variety of formats (music, video, literary, visual, podcast, etc.) 7) NFTs allow creators to assign ownership of assets to other parties 8) NFTs can also have utility, which makes them more valuable to the people holding them CONS 1) NFTs must be visual or they are not likely to sell 2) NFTs are still a nascent market and not altogether doing well in the downcycle 3) NFTs do produce ongoing income whereas; rather, creators must rely on selling NFTs and those purchased appreciating in value and selling on a secondary market, none of which are guaranteed 4) Network fees can be profit prohibitive --- (Diamonds and Pearl: The History of the Top 10 Cryptocurrencies) (Taylored Content newsletter where every post is an NFT ) (Web3 Social: How Creators Are Changing the World Wide Web (And You Can Too!) available as an NFT) (Web3 Social recently released as an audiobook) --- Send in a voice message: