AFFILIATE MARKETING

A New Way To Get Rich From NFTs?

Published

2 years ago

January 25, 2023

I know we all say we’re here just for the art, but let’s be real, we all want to get rich off our JPEGs too! Unless you’re deep in the space researching every day, on top of the latest hot mints, and have the sharpest analytic tools at your disposal – the odds are against you.

Another way to generate cash here is by creating your own collections. With the great equalizer of lifetime royalties in play, NFTs have changed the financial landscape for artists and project creators to venture into the digital realm. However, with the introduction of marketplaces such as x2y2.io and blur.io dabbling with zero creator royalties, the notion that NFTs were a cast iron avenue for artists to earn an income for life came into doubt.

Soon enough, this quickly turned into ‘it’s only a matter of time until royalties become a thing of the past.’

‘potential to reshape the nft landscape’

Enter Gabriel Leydon, CEO of Limit Break, who announced that they have been working on a solution to the issue. Their blog post begins:

“Limit Break is introducing opt-in, backwards-compatible, programmable royalties contracts that work on any ERC-721 contract through a novel staking solution. Our initial goal was simply to give creators the power to decide how royalties will be distributed on the smart contract layer, but as you will read below, this release will allow for numerous applications with the potential to radically reshape the NFT landscape.”

Essentially, Limit Break are introducing a way for project creators to wrap their NFT so that they can enforce royalties on chain. The NFTs created are staked, with the creator receiving a wrapped version of their NFT in its place. This incarnation of their token is set so it can only trade on marketplaces which enforce royalties. Additionally, the wrapped version of the NFT allows for a few other features:

The creator can set minimum and maximum floors for listings. Terrible news for professional undercutters!
The ability for the owner of an NFT to rent it out, and for the rent payments to be collected on chain
Gaming utility, in the sense that tasks or quests in-game can be completed and the state of the NFT would be automatically updated, burned or replaced
And, royalty sharing with affiliates…..

A New Way to profit from nfts?

Royalty sharing with affiliates could open up a whole new path to generating income from NFTs, even if you have never owned the NFT itself!

There’s a few ways this can be achieved. The first is by the creator setting up a royalty share agreement with minters. The creator could action a condition that anyone who mints the collection will forever receive x% of royalties for every sale on the specific NFT that they minted.This solution potentially solves more than just the artist commission problem outlined at the start of the article.

Quite often, a collection’s hype and wider interest will wane soon after it has minted out. Certainly, it’s fair to say that a holder of any NFT loses interest in a project as soon as they no longer have a vested interest in the asset. This royalty share dynamic could completely change that, as it creates an incentive for those who minted to add growth to the project, even long after they sold their last one.

Similar to the above example, a creator can add extra conditions to the royalty share. For example, it could be set that commission will be accrued by the collector, but only after the NFT has been held for a specific length of time first, as shown in the below example:

NFT is minted by the collector
Condition set by the creator that the NFT must be held for 1+ years in order to be eligible for royalties post-sale
Collector sells after holding for 15 months
Collector is eligible and receives lifetime royalties alongside the creator

This strategy incentivizes long term holding; something which many collections suffer a lack of within the fast paced environment of this market.

Affiliate marketing in web3

However, there’s even a way that you can earn royalties whilst never having minted or held the NFT in question. A project creator could approach a popular influencer or website with the proposition of a cut of the royalties in return for their marketing and promotion. With traditional affiliate sites, generally a unique URL or code will be issued which attaches each sale of the product to the affiliate who closed the sale via their link. The same process could be applied with NFTs quite easily!

Moreover, as all transactions are visible on chain with the ability to have proceeds divided up between wallets automatically, this innovation from Limit Break eliminates the need for a middle man to keep track of sales figures and execute payments.

nothing short of revolutionary

These proposed changes to how the NFT market will operate is nothing short of revolutionary.

Gabriel Leydon’s NFT project, DigiDaigaku, was a free mint itself and relies heavily on secondary sales to generate revenue. You can be sure that there will be a concerted effort to bring these ideas all to fruition based on that alone.

Furthermore, this could extend the reach of who’s onboarded to NFTs outside of the current sphere. If Web2 marketers see the massive profit potential of affiliate marketing here, they’ll likely flock in their droves!

This is a Contributor Post. Opinions expressed here are opinions of the Contributor. Influencive does not endorse or review brands mentioned; does not and cannot investigate relationships with brands, products, and people mentioned and is up to the Contributor to disclose. Contributors, amongst other accounts and articles may be professional fee-based.

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AFFILIATE MARKETING

Invest in Yourself with a Lifetime of StackSkills Courses for $29.97

Published

11 hours ago

September 8, 2024

Entireweb News Bot

Invest in Yourself with a Lifetime of StackSkills Courses for $29.97

Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

As a busy professional, finding time to invest in your education can be challenging. But what if you had lifetime access to an online learning platform that lets you learn whenever and wherever you want? That’s exactly what StackSkills offers—and right now, you can get lifetime access for just $29.97 (reg. $600).

StackSkills is an intuitive, user-friendly platform that’s perfect for anyone looking to enhance their skills without committing to a rigid schedule. Whether you’re a parent returning to the workforce, a business owner looking to gain new skills, or simply someone looking to keep up with ever-evolving industries, StackSkills provides the tools and flexibility you need to stay ahead.

With instant access to a pre-selected library of more than 1,000 courses—with new courses added monthly—there’s something for everyone. The platform’s range of beginner to advanced courses covers professional topics like IT, development, graphic design, finance, business, marketing, and more.

There are even personal growth topics like mindful meditation. And with more than 350 of the web’s top instructors, you’ll be learning from some of the best in the business.

One of the greatest advantages of StackSkills is the flexibility it offers. Instead of being tied to a specific time or place, you can access the platform from anywhere and learn at your own pace. Whether you have 15 minutes during your lunch break or a few hours on the weekend, StackSkills is designed to fit seamlessly into your busy life.

Consider a business owner looking to improve their finance skills to better manage their company’s growth. They can browse the available finance courses, find what suits their needs, and immediately start building the expertise necessary to take their business to the next level. And with course certifications, they can demonstrate their newly acquired skills to clients and stakeholders.

Whether you’re starting from scratch or looking to take your knowledge to the next level, StackSkills has something for everyone.

Get lifetime access to all of StackSkills courses for just $29.97 (reg. $600) through September 29.

StackSocial prices subject to change.

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AFFILIATE MARKETING

Best US Cities to Start a Business, Entrepreneurship: Report

Published

1 day ago

September 7, 2024

Entireweb News Bot

Best US Cities to Start a Business, Entrepreneurship: Report

What city is best for starting your business? While several factors should play into a decision, a new report from fintech company SumUp has identified the top 10 for entrepreneurship based on tax data, the number of millionaires in the city, and even Google searches.

New York topped the list because of the opportunities it offers across industries, from tech to fashion, and its 4% sales tax, which was the lowest of the group. New Yorkers also frequently Google “how to get rich” and “how to make it in business,” the study found. The city also offers access to over 30 WeWork coworking locations, the most of all the cities in the report, which theoretically could help startup employees collaborate.

Chicago came in at No. 2, with SumUp researchers highlighting its 120,500 millionaires and high interest in entrepreneurship through tracked Google searches. They also found that Chicago stood out for finance startups.

Rounding out the top three was Miami, “where the weather is warm and taxes are low,” according to the study. Travel, tourism, and commerce startups thrive in this city, which has 0% personal income and capital gains tax.

Here’s a complete list of the top ten cities for entrepreneurship, according to the report.

1. New York

Number of millionaires: 349,500

Personal income tax – highest income: 10.90%

Sales tax: 4.00%

2. Chicago

Number of millionaires: 120,500

Personal income tax – highest income: 4.95%

Sales tax: 6.25%

3. Miami

Number of millionaires: 35,300

Personal income tax – highest income: 0.00%

Sales tax: 6.00%

4. Los Angeles

Number of millionaires: 212,100

Personal income tax – highest income: 13.30%

Sales tax: 9.50%

5. Dallas

Number of millionaires: 68,600

Personal income tax – highest income: 0.00%

Sales tax: 6.25%

6. Austin

Number of millionaires: 32,700

Personal income tax – highest income: 0.00%

Sales tax: 6.25%

7. Houston

Number of millionaires: 90,900

Personal income tax – highest income: 0.00%

Sales tax: 6.25%

8. Seattle

Number of millionaires: 54,200

Personal income tax – highest income: 0.00%

Sales tax: 6.50%

9. Washington

Number of millionaires: 28,300

Personal income tax – highest income: 10.75%

Sales tax: 6.00%

10. Boston

Number of millionaires: 42,900

Personal income tax – highest income: 9.00%

Sales tax: 6.25%

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AFFILIATE MARKETING

What Is Founder Mode and Why Is It Better Than Manager Mode?

Published

2 days ago

September 6, 2024

Entireweb News Bot

What Is Founder Mode and Why Is It Better Than Manager Mode?

Paul Graham, the founder of famed startup accelerator Y Combinator, coined a new term this week that has taken over social media: founder mode.

In an article released on September 1 and publicized on X over Labor Day weekend, Graham separates “founder mode” from the traditional “manager mode” route by noting key differences in management styles and organizational structure. Graham’s X post has over 21 million views at press time.

Founder mode means that the CEO interacts with employees across the organization, not just their direct reports. The startup, even as it grows into a large company, is less hierarchical; the CEO could do “skip-level” meetings with employees, for example. Graham gave the real-world example of Steve Jobs running an annual retreat for who he thought were the 100 most important people at Apple — regardless of where they were on the corporate ladder.

Manager mode, meanwhile, is less hands-on and involves more delegation to other people. Founders can grow companies and run them effectively without switching to manager mode, Graham stated.

“Hire good people and give them room to do their jobs,” Graham wrote. “Sounds great when it’s described that way, doesn’t it? Except in practice, judging from the report of founder after founder, what this often turns out to mean is: hire professional fakers and let them drive the company into the ground.”

Graham gave the example of Airbnb CEO Brian Chesky, who tried to follow conventional “manager mode” wisdom to hire good people and let them do their jobs.

“The results were disastrous,” Graham wrote.

Chesky had to pivot to a different “founder mode” style of management and explained in an interview last year that founders have multiple advantages over managers: They have owned every part of the process of building a company, from start to finish; They have built the company up, so they can rebuild it; and they have permission to rebrand the company or make major changes.

This is it: @bchesky on founder mode.

Three reasons why founders differ from managers:
1. Being the biological parent
2. Full permission to make change
3. Knowing how to rebuild the company pic.twitter.com/VhuQ70B8FK

— Yana Welinder (@yanatweets) September 2, 2024

In the past few days since Graham released his essay, the social media world has begun exploring what it means in humorous and insightful ways. One post drew a comparison between micromanaging and founder mode.

founder mode pic.twitter.com/LWOlaFq4UJ

— ST (@seyitaylor) September 2, 2024

Other posts from women founders addressed the question: Can women be in founder mode too?

Chesky wrote on X earlier this week that women founders had been reaching out to him since Graham released the essay about how they can’t run their companies in founder mode the same way men can.

“This needs to change,” he wrote.

Remember when the female founders did founder mode and all got cancelled for it?

— Sara Mauskopf (@sm) September 3, 2024

It happened to me first — headlines portraying me as a “toxic leader” when I had to make the same, often unpopular, decisions that my male peers did without critique.

For them, it’s called Founder Mode, and it’s celebrated (a proper noun! With its own merch! And trademarks… https://t.co/rF0IM1huy3

— Sophia Amoruso 3.0 (@sophiaamoruso) September 5, 2024

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