Dear Creators: What Is Digital Wealth and Why Should You Care?
Digital wealth is a relatively new term birthed with the dawn of the internet.
It started as nothing more than numbers in your bank account but quickly expanded to things you could create and monetize: think blogs, vlogs, e-books, and other digitally packaged and distributed products.
The definition of digital wealth has swelled quickly in its short life span, and the ceiling of its earnings potential has increased by more than 1,000x.
How digital wealth has evolved into such a powerful asset
With the rise of the creator economy, anything you create and share online acts as leverage to grow your digital wealth. Every creation is a digital asset. Using my writing as an example:
- I directly earn money on Medium from articles published years ago
- Those same articles, plus hundreds of non-paid ones, comprise my writing portfolio, which helps land writing gigs
- My writing portfolio is a gold mine of content waiting to be repackaged into a digital product to earn money while I sleep
Same holds true for any other creator. Your content is a lever upon which you can build massive digital wealth.
But Web3 has brought about an even better age of digital wealth
Your content has always been your content, which you’ve been able to leverage to build digital wealth. But now, here’s where your earnings ceiling has done a 1,000x.
Blockchain technology and cryptocurrencies have immensely lowered the entrance fees to platform ownership.
Instead of just owning YOUR content, you can now own part of the platforms you create on. Or, creatorship aside, you can easily own a stake in the businesses or projects that you believe will be successful.
This new digital wealth potential can be yours with a few key steps:
- Keep creating content and contributing to the creator economy
- Do some basic research on DeFi and cryptocurrencies
- Download the Crypto.com app and invest in projects you believe in
- Create a MetaMask wallet and explore the various DeFi protocols
- Periodically seek out new opportunities to create on Web3
Stick with me and I’ll show you how
This tech is evolving faster than you can imagine. This year, I’ll be diving into all of it and experimenting with how to leverage this “new” digital wealth.
This post was created with Typeshare