Money Virtually Everywhere: How Crypto Can Grow Your Online Biz

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If you’re the type of entrepreneur who builds an audience to build a digital business (like Founding Moms’ own Jill Salzman, for example), then you’re part of the red-hot “creator economy.”

In fact, you’re not just any old entrepreneur-you’re a content entrepreneur. And that’s one of the hottest kinds of businesses to be in with the advent of Web 3.0 and the metaverse.

Until now, many of us have relied on social media platforms to build our following and make a living. Today, blockchain tokens, including “creator coins” and NFTs (non-fungible tokens), can help you break your reliance on fickle, algorithm-driven social media platforms that can limit your reach and revenue.

If you’re in the business of creating digital products, services, events, or affiliate offers, it’s time you familiarize yourself with these exciting audience- and community-building assets.

Creator Coins 101

Here’s the skinny on creator coins: they’re a custom-branded form of digital currency. That means you can develop a virtual economy for your digital business by creating your own cryptocurrency.

First, let’s look at why you’d want a creator coin. Here are the three main ways creator coins are used:

Spend: Your audience members buy and transfer coins to you directly in the form of a tip or donation as a thank you for the value you provide through your free content. Or your community uses your coins to purchase a product, service, or event ticket.
Earn: Just like a frequent flyer or other loyalty rewards program, your audience members can earn your coins in exchange for referrals and repeat purchases. Or you can do coin giveaways to incentivize people, like rewarding those who hold a certain amount of your coin.

Hold: Like other forms of cryptocurrency, people can hold your coins as a digital asset. Depending on how much they hold, you can provide them with access to products, services, events, coaching, and consulting.

One important note about what creator coins are not: They’re not securities or investments. Instead, creator coins offer immediate, intrinsic value, providing your community with exclusive access to you and your products, services, and events. In fact, a better way to think about “creator coins” is as “community coins.” Their most potent use case is to build a community where the more invested in participating and being helpful an audience member is, the more they (and relatedly, you) benefit from the coins they hold.

To learn more about creator coins, head over to Rally.io, an open network that empowers creators to launch coins tied to their digital communities. Our community coin is $MOVE, so be sure to check it out.

 

 

NFTs For Content Entrepreneurs 101

You’ve probably read about NFTs in the context of the ginormous price tags they’ve fetched, like digital artist Beeple’s “The First 5000 Days” ($69 million) or more recent “Human One” ($29 million). But high-profile artwork is not the only kind of NFT. An NFT is simply a one-of-a-kind, non-fungible asset created using blockchain technology (like Ethereum) – it can be digital art, music, a video, or writing.

As a community-building device, an NFT can be a benefit-packed digital device that helps you build an engaged community.

Wondering how that might work?

When someone purchases an NFT from you, they get a unique piece of art, which certainly signals social capital and even conveys IP rights. But they’re also buying entry and access to an online space – your community – that provides all kinds of valuable connections: networking, camaraderie, purpose, opportunity,, giveaways, and even collective revenue streams.

NFT projects can be a chicken and egg scenario: you might already have an engaged community, and launch an NFT project. Or you have an idea for an NFT project, and a spontaneous community springs up around it.

Either way, NFTs allow you to create a kind of digital “club” where like-minded people either buy or are rewarded with your unique, collectible NFTs. That sense of belonging, when backed with real benefits (i.e., acting as a ticket to a real-world event), makes an NFT a valuable tool for engaging your community.

The Real Value of Blockchain Tokens

Now that you know a bit about creator coins and NFTs, can you spot the most valuable common denominator? (Hint: It has nothing to do with them both being a digital asset.)

It’s the audience-first mentality.

That’s the mindset necessary to cultivate community for commerce, influence, and the group’s overall success. And that’s perhaps the most surprising thing about blockchain tokens: even though they seem so futuristic, they’re actually most potent when used for good old-fashioned audience building.

By opening the doors of greater direct connection, you invite abundant opportunities to expand your influence, impact, and income.

And speaking of the future, my partners, serial digital entrepreneur Brian Clark and community builder Jerod Morris, and I are offering a free course to help you succeed in the creator economy and Web 3.0: Future Freedom. Among other things, the five-lesson course helps make crypto less cryptic and empowers you to create your ideal future on your own terms.

 

Trudi Roth is a content entrepreneur, recovering mommy blogger, meditation teacher, and parent of three awesome children: two biological humans and one furry, four-legged adoptee. It’s her mission and delight to help people express themselves authentically in all realms. For more of Trudi’s musings on the three things all women need to think more about – health, wealth, and self – subscribe to the weekly newsletter, Further.net. 

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