Coinmooner Team Exploring Earnings in the Cryptosphere – Key Directions
As you may have noticed from some of our recent news articles, the cryptocurrency space offers numerous opportunities for users to earn extra income based on their interests and preferences. In our unique time, anyone can choose a suitable method and start engaging in it today.
There are various methods available, ranging from anonymous and decentralized ones like trading cryptocurrency on the PancakeSwap platform, which attracts users with its vast array of tokens and diverse projects, to methods requiring verification on centralized exchanges such as Binance, Bybit, and KuCoin. These exchanges provide earning opportunities with a high level of security but have a limited number of projects and tokens that meet their requirements.
However, earning through cryptocurrency trading in the Web3 industry is not the only possibility. Therefore, in our first news article of 2024, the Coinmooner team has gathered useful information about different directions in the Web3 industry that offer income opportunities. This information will be valuable for readers exploring the variety of projects in the crypto space and seeking a deeper understanding of this exciting economic sector, especially in anticipation of the bull run and the upcoming Bitcoin halving.
Among the most popular opportunities in Web3 for earning, as mentioned earlier in the article, are trading cryptocurrencies on centralized and decentralized exchanges. Additionally, other popular avenues include staking, DeFi (Decentralized Finance), mining, SocialFi, play-to-earn games (P2E), non-fungible token (NFT) markets, infrastructure projects, project launch platforms (Launchpads), metaverses, decentralized autonomous organizations (DAOs), and many more. The rapid development of technology constantly reveals new perspectives, making this sector extremely dynamic and diverse. Keeping track of all trends and innovations in this field seems like a challenging task. The Coinmooner team has gathered relevant information for you, highlighting just a few key aspects with vivid examples. Let's take a closer look at them.
In the Web3 industry, the P2E sector stands for "Play-to-Earn" and represents a space in the cryptocurrency industry where users can earn tokens simply by playing online games. This approach provides players with the opportunity to earn real digital assets within the gaming world, turning games into not only entertainment but also a source of income.
A crucial aspect of P2E is the shift from the traditional model where players spend money to buy in-game assets to a model where players can earn real digital assets, creating additional motivation to participate in the game. This approach also contributes to the creation of economically sustainable and democratic gaming platforms. Recently, P2E has become a popular trend in the industry, attracting attention from both players and investors.
One outstanding example in this industry is the world's first game, "Axie Infinity," created in 2018 by the Vietnamese studio Sky Mavis. This Ethereum-based game is renowned for its in-game economy involving cryptocurrencies. Participants in Axie Infinity engage in collecting and breeding NFTs, digital pets resembling axolotls, and battle them within the game world. Sky Mavis charges a 4.25% commission for trading Axies on its marketplace.
The embodiment of the dynamic NFT sector is the OpenSea platform, positioning itself as one of the pioneers in the world of trading unique digital assets. Established in 2017 in New York, this colossal NFT marketplace offers a diverse range of digital assets, from works by contemporary artists to domain names, gaming and sports cards, utilities, and virtual territories.
To participate in transactions on the platform, all that is required is authentication through wallets like MetaMask, Coinbase Wallet, or Opera Touch, and you can start trading. Cryptocurrency serves as the payment method, and the Ethereum blockchain standards ERC721 and ERC1155 ensure transaction reliability.
OpenSea not only facilitates the sale of creative works but also creates a unique space for NFT trading, giving this sphere a distinct atmosphere and earning potential. Moreover, from 2022 to 2023, the NFT sector experienced a significant downturn, with many digital art pieces losing the demand and supply they had previously. However, there has recently been a growing popularity in the NFT market, with a focus on functional NFTs that offer additional features, such as expanding staking pools for specific projects, unique discount tickets, and various other benefits.
One of the most common and perhaps oldest sectors that our Coinmooner team cannot overlook when discussing earning opportunities in the Web3 industry is mining. Mining is the process of digitally mining currency using specialized equipment by network participants. In simpler terms, it involves verifying and grouping transactions into blocks, usually accomplished by solving complex mathematical problems or cryptographic puzzles.
In our time, every Web3 user, and even beyond, has at least heard of mining, and many popular services, such as Binance, offer the opportunity to earn through cloud mining. The benefits of cloud mining on Binance include user-friendly features: starting Bitcoin mining is possible without specialized knowledge or equipment. This service is convenient and widely used by users worldwide.
This sector also serves as an excellent starting point for those embarking on their Web3 journey and seeking a way to start earning. This earning method doesn't require significant financial investments, providing the opportunity to enter the game with minimal costs and risks. With the advent of cloud mining, this approach also eliminates the need to worry about equipment maintenance and setup, saving time and effort. Thus, it becomes an attractive choice for those who want to explore the world of cryptocurrencies with ease and efficiency.
One of the latest sectors in the Web3 space that we want to explore is SocialFi. This sector is considered relatively young and is actively evolving in light of the latest blockchain technologies and decentralized applications. Its primary focus is on social aspects, interaction, and communication within decentralized ecosystems. The trend of virtual sociality reflects a desire to create more open and participatory environments using innovative approaches to technological progress.
An example project in the cryptocurrency space that aligns with this sector has been mentioned several times in our recent news articles. GPT360 is built on advanced artificial intelligence technology and offers a set of features designed to enhance the capabilities of marketers, community owners, and individuals looking to optimize their online activities. Leveraging artificial intelligence capabilities, GPT360 aims to streamline marketing processes, provide data-driven analytics, and cultivate engaging and thriving communities on popular messaging platforms like Telegram and Discord. This project aligns perfectly with the classification of the SocialFi sector.
The Coinmooner team believes that 2024 holds the promise of being a time filled with new, memorable, and important projects capable of elevating crypto ventures to new heights and attracting attention from users transitioning from the Web2 world. We are strongly convinced that this article will be highly beneficial for those who are just starting their journey into the Web3 industry, aiming to kickstart their earnings. It will also be valuable for experienced crypto enthusiasts looking to broaden their understanding and enrich their knowledge.
In addition to the above, we urge our readers to conduct personal analysis of any information within and beyond the Web3 industry. It is crucial to always prioritize safety and the protection of one's data and investments. In this rapidly evolving world, skills in analysis and a responsible decision-making approach are particularly valuable.