Web3 As A Tool For Wealth Creation

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Web3 is gradually going from a concept to concrete reality as foundational structures are being built and worked upon. It is different from web2 and even web1 but can be best pictured as an evolution of them. Tokenization wasn't possible with previous web versions, for example. So was true account ownership. This is possible now thanks to blockchain technology and its decentralized nature. To my understanding, it is an integral part of web3.

The journey to wealth creation starts with money and crypto is the native currency of web3. It's value fluctuates with the market. Most Hive users based on the great content we've consumed have understood that crypto is more than just its price value. Behind it is a financial technology.


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The Nitty-Gritty Of Wealth Creation

To understand things properly, we will have to put them into compartments and explore them individually.

The main process to wealth creation has been simple(it doesn't mean easy!) over the years probably since the beginning of modern civilization.

There are quite a number of viewpoints to look at it from but the core principle is making money and converting it into assets.

Generally, the formula is something like this; working brings the money(1), money buys the assets(2) and the assets bring wealth(3) over time.

Creating is a process that is primarily evident on step one but also exist to a certain extent on step two and three.

In my part of the world, it's almost a common place to hear stories about a merchant who owned a single shop at the start. Then over the years own multiple shops, then other businesses or investments until he/she becomes wealthy. Of course, it's a long process of almost a decade or more. But the formula is there to see.

This formula can also be seen in creative professions like artists(think Jay Z) or soccer players(think Christiano Ronaldo).

Same Principle, Different Vehicles

When the internet popped off, the wealth process got digitized. With web3, we can say that it will be tokenized. It's just that the vehicle changes while the principle remains the same.

Every vehicle is different. Web1 folks like Jeff Bezos of Amazon took around a decade of creating to become wealthy. While web2 folks like Mr. Beast took a bit less than that to create wealth. The speed has changed.

Perhaps, it has to with the streamlined process. Taking the Hive blockchain and myself as an example. I can easily be a business and an investor at the same time doing both. As a business, I can create content and earn rewards(money). And as an investor, I can invest that reward on Hive based projects(assets). All within the ecosystem.

It's like killing two birds with one stone. Doing step one and step two at the same time. With Hive Power for example, my earnings are automatically invested.

Step three, on the other hand, takes time as always. It doesn't happen overnight. This is where many of us experience fear, uncertainty and doubt about what the future holds. What if the asset(s) don't end up bringing wealth over time?

I'm sure that Mr. Beast had similar experience at the beginning of his YouTube career. It's part of the process.

Apart from being available to everyone, a great part about web3 as a tool of wealth creation is its potential for exponential returns in a relatively short period of time.

P.S: Not investment advice! For information purpose only. Please Do Your Own Research.


Thanks for reading!! Share your thoughts below on the comments.



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28 comments
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It’s mind blowing how with web3 platforms like Hive, it’s possible to combine both the work and investment simultaneously. That does speed up the process of wealth creation.

I think the FUD is an important part of the process. It reminds you to take the time to do research in choosing what investments you make. We always need to do a potential assessment of the investments we plan to make to be able to assess which is worth and not worth it, or compare between which is more likely to return rewards. In the end, the Uncertainty still means that we’re just counting on probability and luck, two things that are out of our control.

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Absolutely! It definitely speeds up the process and makes it easy to keep with the pace of what's happening since it's within the same ecosystem.

Right. I sometimes see it as the wild card in a sense that we have to make multiple strategic investments based on the knowledge we've acquired. All of them succeeding is a very low probability but if few do or one big one that generates an exponential return, then we could be set for life. Until then, the grind continues on acquiring knowledge and refining our decision making process towards these things.
Thanks for stopping by :)

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The aspect of Web3 that stands out to me the most and that I have grown to appreciate even more is its decentralized nature. This is something that both Web1 and Web2 lacked, and I truly believe it is the way forward. Platforms like Hive, built on blockchain technology, have embraced this decentralized model, creating an environment where many of us who value the ability to take ownership of our assets and witness the growth of our investments have chosen to be.

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Right. I think it's a great turning point on the evolution of the internet. Decentralization allows things to spread further put and become more resilient while also removing control from a select few.

Exactly! Hive is truly marvelous. It gives us the tools to build and grow our investments in ways we couldn't imagine before. True account ownership is freedom.
Thanks for stopping by :)

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We all get those moments when we ask ourselves what if an investment doesn't work out but we wouldn't know the outcome if we don't make the move.

Web 3 is truly becoming more of a reality by the day as the tech advances, like you mentioned wealth creation is simple but not easy, though some ignore the power of investing what they earn and go on spending spree as for us, hopefully, more channels open up so we can earn, invest and create wealth.

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Exactly! We have to dip our toes to feel the water. I think with investments, making strategic moves is the way forward rather than inaction.

There are many opportunities for creating wealth on web3 with ecosystems like Hive. When we understand the principles, becoming patience to in the process becomes a bit easier. I'm sure many more ways will open up in the future to create wealth. This is really a wealth revolution!
Thanks for stopping by :)

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becoming patience to in the process becomes a bit easier.

As for Hive, it is easier when one sees the potential opportunities and is willing to be patient. I have onboarded some that fail to see the opportunities and got discouraged by the cents they earn. Not everyone can spot opportunities when they see one.

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Yes yes. For me, seeing the potential was achieved by the numerous contents that I've consumed so far. The vision is crystal clear in my mind and there's a high probability of it being achieved. The world is moving towards that direction.

Too bad for them! They'll probably regret it in the future when they figured out what they could've achieved had they stayed patient and think long term.

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Am always grateful to this friend of mine who has introduced web3 to me.
When she told me about Hive, I thought is like web1 and web2.
Little did I know that I own my assets myself and also invest simultaneously.
Hive is wonderful.

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Yes, it's really wonderful. There's true ownership and many other ways to create wealth. It's a huge opportunity that I'm also grateful to have found.
Thanks for stopping by :)

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This is such a great piece, I learned from my Hive mentor that the hive power is also an investment and that even beautiful to know, I keep learning every day.

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The learning never stops, there's so much to discover and things to understand better.
Thanks for stopping by :)

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Ii do believe crypto is more than we see It. The advent of web 3 is going to make crypto move to an unimaginable length.

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Indeed! It will break limits and combine many things together. Great and opportune times to create wealth ahead!
Thanks for stopping by :)

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(Edited)

Are you saying web 3 has much more returns in a short time compared to other web? I thought web 3 takes time and needs hard work

Popped in from @dreemport

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No not really, It takes time and hard work to achieve returns but in the case of web3 it's much easier because there are many ways and it is accessible to most people.

Thanks for stopping by from #dreemport :)

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(Edited)

Ohhk i get it now, with the games, and engine tokens and stuff, hmmm understood

Thank you for thanking me

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Gotta love web3 and what we can do and earn of course !

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The doing part is a whole world of its own, so many possibilities. Earning is a great too especially it can be from doing what we enjoy.
Thanks for stopping by :)

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Oh yes, if you can earn bu doing things that you enjoy, then that is awesome!

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I'm a lover of toons, I love your writeup

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We can accomplish great things with them when we know how to use them well, thank you!
Thanks for stopping by :)

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