How to Make Six-Digit Income in Web3
Filipinos are obsessed with achieving six-figure income.
Studies show that one needs atleast PHP100,000 per month to be happy. With the average salary in the country less than half this amount, will we ever reach this level of income and more importantly this type of happiness?
4 insights of earning a 6-figure income https://t.co/NeklaE8EMY pic.twitter.com/SzB5UdifsY
— Ramit Sethi (@ramit) September 11, 2017
Hustle bros will tell you that in order to achieve high income, you need a routine that consists of:
- Multiple businesses
- 20 streams of passive income
- 4:30am wake-up time
- Cold showers
- 5:00am workouts
- Black Coffee
What if I told you that a six-digit income can be attained with a simple career in Web3.
Why 6-digit income is possible in Web3
As a greenfield, Web3 has the potential to offer high-paying careers to employees.
Most Web3 companies are startups and carry high risks. You could end up unemployed after a few months time. To compensate for this risk, Web3 organizations pay their employees a premium in the form of bigger paychecks, equity, and flexible working arrangements.
Web3 workers can also demand more due to the talent shortage in the industry. Web3 has yet to achieve mass adoption and many people would not dare to participate in it. All this has created a bidding war for Web3 talent.
Just because you work in Web3 however, doesn’t mean you will automatically earn a six-digit income. Here are other steps to follow so that you can secure your bag:
1. Identify high-paying skills
Not all Web3 careers will get you to a six-figure income. For example, a Telegram chat moderator will most likely take home $500 to $1,000 a month. Not bad, but not enough.
To find out which Web3 jobs pay high, do initial research on job-listing websites where the offered salary is displayed upfront. Here are some of the most valuable Web3 websites:
- Web3.Career – offers the most up to date job listings via APIs which you can plug into chat groups and Discord channels.
- Crypto.Jobs – bridges employees and employers from Web2 to Web3 with their comprehensive listings.
As you browse through these jobs, it’s best to remember what your skills and strengths are.
While everyone wishes that they could be a Smart Contract Engineer overnight, you may be better off as an Non-Fungible Token (NFT) artist or social media manager. Both of which also pay quite well.
2. Build your personal brand
In today’s competitive environment, it’s criticial to create and establish a personal brand to differentiate yourself from other Web3 participants.
Lei Melendres, the lead artist behind the blockchain-integrated mural Ownly suggests that aspring Web3 artists build their brand similar to how people would come to know a Nike or Addidas.
These are different ways to grow your brand and get that 6-digit income:
- Grow a portfolio – the quality of your work tells people about what value they can get from your skills. Regardless of your career path, you can host your portfolio online. Artists can display their work on OpenSea, develops can upload into GitHub, and writers can maintain a website.
- Become a thought-leader – attention is currency and not only does it highlight your profile, it also gives a glimpse into what you think and what you stand as a person. Keep writing and posting consistently and people will come to know you.
- Establish a network – aside from the various opportunities you can get from your community, the people you associate with also tell a lot about your character. Birds of the same feather flock together. Would you rather be associated with a rugpull or with successful Web3 professionals?
3. Hustle hard for 6-digit income
Unlike traditional companies that frown upon employees taking up side hustles and second jobs, Web3 has countless income earning opportunities for those who work hard and smart.
In 2023, a gamer earned $1.6M from playing the Yuga Labs Web3 game Donkey Dash. Sheesh!
Here are other ways to get to six-figure income in Web3:
- Take on multiple jobs – not all jobs require 100% of the entire days and some people have a talent for multi-tasking. This is something that’s been done in the freelancing world where freelancers take on multiple clients at the same time.
- Remove the middleman – Web3 brings higher earnings to creators as you can go straight to the consumers. Platforms such as OpenSea allow you to do this. Create artwork, distribute songs, and sell feet pics.
- Participate in Bug Bounties – how would you like to profit from the mistakes of others? Web3 companies promote this as it allows them to outsource and discover mistakes before bigger problems occur. Some rewards even reach into six-digit income in U.S. Dollars!
Point given to the hustle bros.
A well-paid career in Web3 allows Filipinos to earn a six-figure income without going abroad and leaving behind loved ones. Sometimes, you can achieve all that even without leaving the bedroom.
Did this article re-ignite your fire for high-paying work? Make sure to checkout our other Web3 career guides.