Would you like to know how to make money on the DeSo blockchain? I will discuss creator coins, referrals, and NFTs.
3 Ways to Make Money on the DeSo Blockchain
Making Money with DeSo Creator Coins
First, I will discuss what creator coins are briefly.
Overview of Creator Coins
What are creator coins? Creator coins are made when you start a new account. It is your own personal coin on the DeSo blockchain.
The more influence and popularity you gain the more people will buy into your coin and increase the price. You will want to own some of your own crypto coins on the DeSo blockchain.
Option 1 Making Money with your Creator Coin
Making money with your creator can be very complicated. Let’s play out a basic example.
Let’s say you want to buy $20 worth of creator coins, and you get five coins. Next, you start posting some great content, and everyone buys into your coin. Now the price rises to $100 per coin. Very tempting to cash out and take the money but wait.
If you sell, your coin people will think you are a scam. Now you have lost your credibility and what you create no longer has value.
When you invest in your coin, you do not want to pull out the profits if you are playing for the long term. Just buy some of your coin, so you hold a stake and use other great content providers for investment.
You will make money using your FR (Founders Reward) for your coin. When people buy your coin you will get a certain percentage of what they buy. You will want to maintain FR % between 10% and 15%.
If you want to make money off your actual coin, set up another account and use it as an investor.
Option 2 DeSo Protocol Referral Program
The DeSo referral program is working through the debug system but is getting to where it needs to be. If you have participated in affiliate programs in the past, you will be set and ready to go, especially if you are already in the crypto space.
If you have not started in DeSo use my referral link so you can get free DeSo to get started and I will get some free too. After you sign up you can start sending out your own referral code.
The Krassentein Brothers made a great post today about getting your referral link out there. I think they might be part of the AMC Ape with all those crayons. Just saying.
?️ Write a blog post on Medium, talking about DeSo, and include your referral link.
?️ Create a YouTube video about DeSo and put your ref link in the description.
?️ Make a post about DeSo on Twitter, Facebook, Instagram, or TikTok and include your ref link.
?️ Take part in conversations about social media, censorship, NFTs, or crypto on Reddit and mention DeSo with your ref link (don’t spam).
?️ Register a unique, catchy domain name (i.e. NewSocial.io), forward it to your ref link, and then advertise that URL on your hats, shirts, social media. (also use a QR code)
?️ Include your ref link on business cards.
?️ Create your own WordPress DeSo blog and hyperlink to your ref URL.
Option 3 Make Money on DeSo with NFTs
NFTs (Nonfungible Tokens) are another great way to make money. If you are an artist and have time to spend socializing and campaigning a little, making NFTs can be a great way to make some extra income.
The DeSo platform makes it easy to mint NFTs and very affordable. No crazy ETH gas fees here. Less than $0.01 to mint an NFT.
But wait, I’m not an artist. Well, that is not a problem either. If you have a little money and are good at wheeling and dealing you can catch a lot of NFT projects that offer a first bid accept model and turn around and resale at a higher price.
How to Make Money with the DeSo Network
If you have time and are creative you can make money using the DeSo platform. This blog post is just the tip of the Iceberg. No need to overwhelm you when you are just getting started. Stay tuned to find out more.