5 Profitable Business Ideas Web3 and Blockchain Overlook

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.

But as the bear market has hit, a lot of the “get rich quick” people have exited, leaving only the serious builders behind. 

Thing is, while the remaining people are serious about solving real issues, there’s a lot of help needed in the space.  

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. 

When in fact, there’s a tonne of money to be made with more mundane and traditional businesses in the space.  

The below are a few of the obvious business ideas that are desperately needed, but rarely pursued.  

1. Copywriting for clarity

The Web3 industry as a whole is a victim of being overly technical.  

Here’s a snippet from one of the largest NFT marketplaces explaining what they do.  

“LooksRare smart contracts are custom-built within a modular system that enables new features to be rolled out over time – without compromising security – thanks to standardized signatures that clearly define the execution scope.”

If you’re not in the Web3 space, this is almost impossible to understand.  

There’s a huge opportunity here for great copywriters to come into the space and “de-jargonize” the industry. 

At the end of the day, all businesses want to hit the mainstream and mass appeal. 

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. 

Without it, the space is too confusing and thus won’t appeal to the average person.  

How to supercharge this?

Expand the copywriting assistance to all sales and marketing collateral including email and ads.  

You could turn a single, one-time engagement into a monthly improvement and optimization of their entire marketing funnels.  

2. Content marketing

Head to most of the big brands’ blogs and you’ll see one of two things.  

A blog that is rarely updated, or a blog that only features project updates like “We added feature X”. 

Neither will draw in new users.  

A lot of brands in the space think these kinds of “traditional” marketing approaches don’t work. And yet you still have tens of thousands of people searching for things like…

– How to buy crypto

– How to buy an NFT

– What’s the best crypto to buy today

A great content marketing strategy 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.  

Of course, that means there’s 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 – and will pay good money for.  

How to supercharge this?

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’s content.  

3. User experience optimisation

This is one of my big issues in Web3.  

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.

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.  

If you’re an experienced UX designer or strategist, you are desperately needed in Web3.  

There are opportunities in everything from the way websites are designed to the onboarding and engagement flows of projects in the space.  

Great UX helps build big brands, and right now in Web3 there’s an abundance of work here.  

How to supercharge this?

Charge extra for “real user feedback”. Generate a small group of Web3 users and have them record their sessions of using the product with their thoughts for more accurate feedback. 

You pay the testers up to 50% (in total) of the fee you charge the client for this.  

4. Community management

The vast majority of Web3 projects have large, engaged communities.  

The problem is that a lot of them don’t have the resources or the understanding on how to manage a community of thousands of people.  

I can’t tell you the number of communities of huge projects I’ve joined only to find them…

– Filled with spam

– Too complex to navigate

– Completely dead of engagement

The thing is, building a great community is the lifeblood of a great Web3 project.  

They offer feedback, help promote, and can even pitch in on development (if the crowd is right). 

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.  

There’s a huge need for this, and few people who are looking to solve it.  

How to supercharge this?

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.  

5. Partnership setter

One of the big growth levers for Web3 projects is co-promotion between two complementary communities. 

Projects that can find a community with an overlapping audience can see massive gains in usage simply by getting them to share a simple “check this out” with their users.  

The problem is that finding these communities is hard. Closing deals with them, even harder.  It’s basic networking, but through digital channels.  

Having a dedicated “partnership setter” could save a brand a huge amount of resource investment and have an incredible upside. 

All you’d need to do this is the ability to try out different communities and reach out to their managers to see if they’d be open for collaboration. 

How to supercharge this? 

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.  

New tech doesn’t always require new approaches

A lot of entrepreneurs and aspiring business owners are staying away from Web3 and blockchain because they don’t believe they have the necessary technical skills.  

The thing is, most of these projects are filled with people who only have technical skills. 

That leaves a huge gap for non-technical people to grab clients and grow highly profitable businesses.  

The above are just some starting points, but don’t think you can’t get involved in blockchain simply because you can’t code.  

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