There's a common way to generate income as a new entrepreneur. The simple (often oversimplified) method is...
- Choose a segment
- Find a common problem
- Write about a solution to that problem
- Sell the solution as a service to the ideal market that engages with your writing
It's a tried and tested system.
As your service grows, you productise and sell it at scale.
And just like that, you have a profitable business.
Here's my major problem with this.
This approach is very sales and business-focused. Which is great for the entrepreneurs out there.
But what about the other people who are doing super valuable work?
- The journalists helping us better understand key world developments?
- The essayists breaking down complex issues to digestible information?
- The analysts dissecting complex data and strategies to help us all improve our own actions?
These people often don't have a product to sell beyond the writing itself.
Their skillset is not in optimising funnels and sales copy, but in research and creation.
And so they have to take low-paying gigs.
Usually, they have several low paying gigs which means the quality of the work they do suffers.
This is what Web3 - and the idea of creators having a method to monetise their creations - aims to solve.
Now, a lot of the focus on NFTs right now is on visual designs and creations.
But there is a way for you to mint an article, essay, book or other written work as an NFT.
The process uses a platform called Mirror to turn written work into NFTs.
Mirror has far more use though and could help your business in any number of ways.
They've helped brands and creators of varying sizes to...
- Create one-off and collectable NFT articles and essays
- Crowdfund new products and offers
- Create a governance system for a paying community to help brand growth
- Collaborate with other creators and automatically split any sales profits
If you're a creator who focuses on the written word, or a brand who leverages written media to generate sales, I definitely recommend checking out this guide.
It could be another revenue source for your company, and help you hit the goals and heights you're aiming for.
Read the full piece below.
And if you want to see what a written article NFT looks like, check out the piece I used to explain the process here.