{"id":1228,"date":"2023-02-16T09:16:10","date_gmt":"2023-02-16T13:16:10","guid":{"rendered":"https:\/\/parmaks.com\/Resources\/5-profitable-business-ideas-web3-and-blockchain-overlook\/"},"modified":"2023-02-16T09:16:10","modified_gmt":"2023-02-16T13:16:10","slug":"5-profitable-business-ideas-web3-and-blockchain-overlook","status":"publish","type":"post","link":"https:\/\/parmaks.com\/Resources\/5-profitable-business-ideas-web3-and-blockchain-overlook\/","title":{"rendered":"5 Profitable Business Ideas Web3 and Blockchain Overlook"},"content":{"rendered":"

\"Profit<\/a>
\n<\/p>\n

\n

2021 and 2022 were incredible years for blockchain-based businesses. NFTs and crypto saw huge gains and it felt like everyone was jumping into the space to make some quick cash. <\/span><\/p>\n

But as the bear market has hit, a lot of the \u201cget rich quick\u201d people have exited, leaving only the serious builders behind.\u00a0<\/span><\/p>\n

Thing is, while the remaining people are serious about solving real issues, there\u2019s a lot of help needed in the space.\u00a0\u00a0<\/span><\/p>\n

I run a Web3 project review site and spend all day analysing different Web3 projects. Most entrepreneurs in the space want to create the next best tech tool or crypto exchange.\u00a0<\/span><\/p>\n

When in fact, there\u2019s a tonne of money to be made with more mundane and traditional businesses in the space.\u00a0\u00a0<\/span><\/p>\n

The below are a few of the obvious business ideas that are desperately needed, but rarely pursued.\u00a0\u00a0<\/span><\/p>\n

1. Copywriting for clarity<\/strong><\/h2>\n

The Web3 industry as a whole is a victim of being overly technical.\u00a0\u00a0<\/span><\/p>\n

Here\u2019s a snippet from one of the largest NFT marketplaces explaining what they do.\u00a0\u00a0<\/span><\/p>\n

\u201cLooksRare smart contracts are custom-built within a modular system that enables new features to be rolled out over time \u2013 without compromising security \u2013 thanks to standardized signatures that clearly define the execution scope.\u201d<\/span><\/p>\n

If you\u2019re not in the Web3 space, this is almost impossible to understand.\u00a0\u00a0<\/span><\/p>\n

There\u2019s a huge opportunity here for great copywriters to come into the space and \u201cde-jargonize\u201d the industry.\u00a0<\/span><\/p>\n

At the end of the day, all businesses want to hit the mainstream and mass appeal.\u00a0<\/span><\/p>\n

For them to achieve that, they need copy that explains what it is they do in simple, compelling terms even the most non-technical person can understand.\u00a0<\/span><\/p>\n

Without it, the space is too confusing and thus won\u2019t appeal to the average person.\u00a0\u00a0<\/span><\/p>\n

How to supercharge this?<\/strong><\/em><\/p>\n

Expand the copywriting assistance to all sales and marketing collateral including email and ads.\u00a0\u00a0<\/span><\/p>\n

You could turn a single, one-time engagement into a monthly improvement and optimization of their entire marketing funnels.\u00a0\u00a0<\/span><\/p>\n

2. Content marketing<\/strong><\/h2>\n

Head to most of the big brands\u2019 blogs and you\u2019ll see one of two things.\u00a0\u00a0<\/span><\/p>\n

A blog that is rarely updated, or a blog that only features project updates like \u201cWe added feature X\u201d.\u00a0<\/span><\/p>\n

Neither will draw in new users.\u00a0\u00a0<\/span><\/p>\n

A lot of brands in the space think these kinds of \u201ctraditional\u201d marketing approaches don\u2019t work. And yet you still have tens of thousands of people searching for things like\u2026<\/span><\/p>\n

\u2013 How to buy crypto<\/span><\/p>\n

\u2013 How to buy an NFT<\/span><\/p>\n

\u2013 What\u2019s the best crypto to buy today<\/span><\/p>\n

A great<\/span> content marketing strategy<\/span><\/a> that helps brands rank on page 1 of Google could generate a lot of new users simply by doing what their competition is too lazy to pursue.\u00a0\u00a0<\/span><\/p>\n

Of course, that means there\u2019s a great opportunity here for entrepreneurs who can write. A simple content marketing agency focused on Web3 is just what many of these projects need \u2013 and will pay good money for.\u00a0\u00a0<\/span><\/p>\n

How to supercharge this?<\/strong><\/em><\/p>\n

Collect a list of Web3 brands doing content marketing well and create a private community (perhaps even paid) where they can help one another by promoting each other\u2019s content.\u00a0\u00a0<\/span><\/p>\n

3. User experience optimisation<\/strong><\/h2>\n

This is one of my big issues in Web3.\u00a0\u00a0<\/span><\/p>\n

A lot of the projects are built by engineers, for engineers. They look at their approach through the eyes of someone who is incredibly technical.<\/span><\/p>\n

And so they see no issue with making someone take 15 steps to set something up when really most people will only persist through two or three.\u00a0\u00a0<\/span><\/p>\n

If you\u2019re an experienced UX designer or strategist, you are desperately needed in Web3.\u00a0\u00a0<\/span><\/p>\n

There are opportunities in everything from the way websites are designed to the onboarding and engagement flows of projects in the space.\u00a0\u00a0<\/span><\/p>\n

Great UX helps build big brands,<\/span><\/a> and right now in Web3 there\u2019s an abundance of work here.\u00a0\u00a0<\/span><\/p>\n

How to supercharge this?<\/strong><\/em><\/p>\n

Charge extra for \u201creal user feedback\u201d. Generate a small group of Web3 users and have them record their sessions of using the product with their thoughts for more accurate feedback.\u00a0<\/span><\/p>\n

You pay the testers up to 50% (in total) of the fee you charge the client for this.\u00a0\u00a0<\/span><\/p>\n

4. Community management<\/strong><\/h2>\n

The vast majority of Web3 projects have large, engaged communities.\u00a0\u00a0<\/span><\/p>\n

The problem is that a lot of them don\u2019t have the resources or the understanding on how to manage a community of thousands of people.\u00a0\u00a0<\/span><\/p>\n

I can\u2019t tell you the number of communities of huge projects I\u2019ve joined only to find them\u2026<\/span><\/p>\n

\u2013 Filled with spam<\/span><\/p>\n

\u2013 Too complex to navigate<\/span><\/p>\n

\u2013 Completely dead of engagement<\/span><\/p>\n

The thing is,<\/span> building a great community<\/span><\/a> is the lifeblood of a great Web3 project.\u00a0\u00a0<\/span><\/p>\n

They offer feedback, help promote, and can even pitch in on development (if the crowd is right).\u00a0<\/span><\/p>\n

If you can gain enough experience to understand how to manage a decent-sized community, you could easily create an agency that works with multiple clients in multi-thousand-dollar monthly deals.\u00a0\u00a0<\/span><\/p>\n

There\u2019s a huge need for this, and few people who are looking to solve it.\u00a0\u00a0<\/span><\/p>\n

How to supercharge this?<\/strong><\/em><\/p>\n

Most Web3 communities are on Discord. Create some relevant Discord bots and let brands use them for a monthly fee for a separate revenue stream.\u00a0\u00a0<\/span><\/p>\n

5. Partnership setter<\/strong><\/h2>\n

One of the big growth levers for Web3 projects is co-promotion between two complementary communities.\u00a0<\/span><\/p>\n

Projects that can find a community with an overlapping audience can see massive gains in usage simply by getting them to share a simple \u201ccheck this out\u201d with their users.\u00a0\u00a0<\/span><\/p>\n

The problem is that finding these communities is hard. Closing deals with them, even harder. <\/span>\u00a0<\/span>It\u2019s basic networking<\/span><\/a>, but through digital channels.\u00a0\u00a0<\/span><\/p>\n

Having a dedicated \u201cpartnership setter\u201d could save a brand a huge amount of resource investment and have an incredible upside.\u00a0<\/span><\/p>\n

All you\u2019d need to do this is the ability to try out different communities and reach out to their managers to see if they\u2019d be open for collaboration.\u00a0<\/span><\/p>\n

How to supercharge this?\u00a0<\/strong><\/em><\/p>\n

Keep a record of the brands that are up for partnerships. Either give access to the list for a dollar amount, or use it to quickly speed up the results you generate.\u00a0\u00a0<\/span><\/p>\n

New tech doesn\u2019t always require new approaches<\/strong><\/p>\n

A lot of entrepreneurs and aspiring business owners are staying away from Web3 and blockchain because they don\u2019t believe they have the necessary technical skills.\u00a0\u00a0<\/span><\/p>\n

The thing is, most of these projects are filled with people who only have technical skills.\u00a0<\/span><\/p>\n

That leaves a huge gap for non-technical people to grab clients and grow highly profitable businesses.\u00a0\u00a0<\/span><\/p>\n

The above are just some starting points, but don\u2019t think you can\u2019t get involved in blockchain simply because you can\u2019t code.\u00a0\u00a0<\/span><\/p>\n<\/p><\/div>\n

\"Profit<\/a>
<\/p>\n","protected":false},"excerpt":{"rendered":"

2021 and 2022 were incredible years for blockchain-based businesses. NFTs and crypto saw huge gains and it felt like everyone was jumping into the space […]<\/p>\n","protected":false},"author":1,"featured_media":1229,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-1228","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-success"],"_links":{"self":[{"href":"https:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/posts\/1228","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/comments?post=1228"}],"version-history":[{"count":0,"href":"https:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/posts\/1228\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/media\/1229"}],"wp:attachment":[{"href":"https:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/media?parent=1228"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/categories?post=1228"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/tags?post=1228"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}