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Make Money In Multiple Digital Economies

If you are selling products or services online, you are most likely to be a part of a digital economy called the Internet. Technological innovations are unlocking new digital economies every day such as NFTs, short for non-fungible tokens. NFTs have become a buzz word for making millionaires over night, celebrities creating collections and art entering Christie’s auction house. This spike in interest is funded by supporters of the movement shifting the culture of money and early investors pushing for the success of decentralized currencies. If you somehow avoided learning about NFTs, take this Gitcoin Quest to get caught up. If you are wondering if NFTs are right for you, take a look at this handy-dandy flow chart. The most powerful aspect of NFTs is its ability to authenticate ownership for pretty much anything you could imagine.

Market Distribution For NFTs, 2020 (Sales - USD)

Market Distribution For NFTs, 2020 (Sales - USD)

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The line between the digital and physical world continues to blur propelled by the COVID-19 pandemic. So, it is no surprise that metaverses, virtual manifestations of actual reality, are leading the way for the NFT market. A metaverse often has its own “digital economy” such as Decentraland, the 2nd largest market for NFTs. Additionally, NFTs’ digital assets can be paired with physical products.

As a founder, you often where the hat of product manager. Aligning your vision, strategy and processes can be difficult. However, the power of technology, like NFTs, can improve the efficiency of your product(s). NFTs can help validate your “why”, create a bigger impact and increase simplicity. That’s enough talking, start building by checking out this research on NFTs.

NFT Research

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Business Funding

  • The collector known for acquiring Beeple’s NFTs for $777K has a grant to fund your first NFT

  • Gitcoin features a 6-week program guiding founders through the process of launching an amazing new startup on the Arweave’s decentralised web

  • First draw PPP loans are available now

  • The SoGal Foundation and the SoGal Ventures teams keeps grants rolling

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Jobs

  • Pay me in crypto? Use Javascript and Node.js to complete this 30 minute task with CELO.

  • The hottest new social media app, ClubHouse, is hiring.

  • Calling creatives! Incluzion is hiring an Art Director.

  • Spelman College is looking for a tech savvy Integration & Reporting Specialist.

Put Your Foot In It

The ecological impact of NFT Art is equivalent to boiling a kettle for tea 3.5 million times. If you don’t like tea, it is the same as using a laptop for 2.5 million years. Addressing the ecological footprint of blockchain activities should be at the forefront of innovation that comes out of the space. However, will it require a makeover for the entire computing world?

Most NFTs are sold on Ethereum, a decentralized open-source blockchain with a booming digital economy. Ethereum uses “gas” as its fuel to operate, in the same way that a car needs gasoline to run. Since each transaction requires computational resources to execute, each transaction requires a fee or “gas.”

Gas Fee Process on Ethereum Blockchain
Average Value of Sales vs. Ethereum Gas Fees

Average Value of Sales vs. Ethereum Gas Fees

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With over 6 million NFT transactions in 2020, you can imagine how this technology racked up a high ecological footprint. However, these figures do not include the production or storage of the works, the computers directly engaging in the act or the website itself. Therefore, the compounded effects of technology like NFTs and our smartphones that use rare Earth elements requires an audit of the entire tech ecosystem.

Podcast World

Analytics On Fire

AOF is a podcast hosted by Mico Yuk who has trained 10,000+ data professionals in the last 10 years. Her podcast discusses the use and impact of data storytelling. The episode, “How To Think Like A Product Leader w/ Kevin Greene”, gives insight on an analytical approach to increasing user adoption. | Listen

Analytics on Fire Podcast

Bankless

Bankless is the ultimate guide to crypto finance. In this State of the Nation episode, “NFT MANIA! Are NFTs the Future of Art? Nifty Gateway Founders Griffin and Duncan”, the Co-Founders of Nifty Gateway explain NFTs and why the market is growing now. | Listen

Bankless Podcast

Noisy Intermediate-Scale Podcast

The coded mystery to technology’s impact on our environment starts with physics. The future of technology is in Quantum Physics. In the 1st episode of NISP, “What Quantum Software Engineers do?”, Michał Stęchły talks about the job of quantum software engineers. What this job is about and how it's different from similar positions? | Listen

Noisy Intermediate-Scale Podcast

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