Last weekend, I completed a live class called “Transition to Web3 Development – Lesson 1”. In the following days, I divided the content of this lesson and re-recorded it into 7 shorter videos, which were released on platforms such as Bilibili, Video Number, Douyin, and Zhihu.
Bilibili has subtitles, while the other platforms do not. If you enjoy watching on Bilibili, you can search for “Transition to Web3 Development – Lesson 1” to find this video course, or directly search for my name, “Keegan Xiao Gang”.
Currently, three sections of the text and image version have been published:
01 | Self Introduction
02 | What is Web3
03 | Why Transition to Web3
Below is the text and image content of the fourth section.
[Where are the opportunities for ordinary people?] Text and Image Version
Hello, I’m “Keegan Xiao Gang”, and we continue with “Transition to Web3 Development – Lesson 1”. In this section, we will discuss where the opportunities are for ordinary people. By opportunities, I mean opportunities to make a lot of money and earn high salaries.
Here, I will only list four main directions.
First, trading, which means investing in digital currencies. In the previous section, I mentioned that Web3 developers are not only involved in technology development but also in cryptocurrency trading, and I am no exception. Speaking for myself, the best trading record I have so far is starting with 1000U and continuously increasing it to a peak of 140,000U in two months, achieving a return rate of 140 times. This may seem impressive, but at that time, I didn’t know when to take profits properly, and in the end, overnight, all 140,000U was lost. This is a very memorable experience. At that time, I also posted my thoughts on Zhihu, which I will share below.
Therefore, trading in the Web3 field is an area that can achieve high returns but comes with high risks, especially in the volatile market, which requires a high level of psychological resilience that many people cannot withstand. The simplest trading strategy may be to accumulate coins in a bear market and sell them in a bull market. If you can hold on for a full bull-bear cycle of two to four years, you can expect a return rate of at least 5 to 10 times. The more complex strategies are not mentioned here.
Second, airdrops. There is a saying in the industry: “Trade during a bull market, airdrop during a bear market.” Airdrops refer to receiving tokens for free. Airdrops provide opportunities to earn significant profits at low costs. For example, the first NFT project, CryptoPunks, initially airdropped 10,000 NFTs. And now, how much is the cheapest CryptoPunk? We can see from the official website that the floor price is 24.99 ETH, worth over $89,000.
I have also received good airdrops from several projects, including ARB, STRK, and FLT, each worth several thousand dollars, and this is just from one account. However, I did not specifically go after airdrops. Those who specialize in airdrops, with a large number of accounts, have made a fortune. These are the opportunities.
However, there are risks as well. For example, there may be airdrop reversals by the project team, or the project may fail, or the project team may not actually carry out airdrops, or accounts may be blocked due to cheating, or even fall into scams. For example, the recent popular zkSync airdrop resulted in many airdrop studios being wiped out.
In summary, airdrops may offer a small investment with a large return, but the returns are not linear and there is significant uncertainty. Having an investment does not guarantee a return.
Third, starting projects. This is also a direction that I personally prefer. However, not all projects are worth doing, such as those that purely exploit investors. I do not recommend getting involved in those.
When selecting projects, my main considerations are twofold. First, I judge whether the project has prospects and opportunities to grow. This requires examining the project team’s background, the project’s business model, and other factors. Second, I consider whether I have the opportunity to obtain a substantial amount of project tokens by participating in the project, and how long it will take for these tokens to be unlocked and whether there is an opportunity to trade them on exchanges. If the project is successful, I have the opportunity to achieve financial freedom.
Obtaining tokens is similar to holding shares in a traditional Web2 company. The difference is that traditional Web2 company shares can only be cashed out after going public, which usually takes a long time. On the other hand, once Web3 project tokens can be traded on exchanges, it is equivalent to going public, and this process is usually much shorter.
Furthermore, when I mention starting projects, I’m not suggesting that you start your own project, but rather that you join a project team. It is best if the project has not yet issued tokens but has plans to do so. If you have the opportunity to become a core member of the initial team, it’s even better because you’ll have the chance to obtain more tokens. Of course, the most important thing is that the project has prospects and a good chance of success. Otherwise, no matter how many tokens you have, it will be useless. However, since this is a startup project, the probability of failure is not small.
Although the idea of getting rich by starting projects has a significant failure rate, unlike airdrops and trading, even if the project fails in the end, you will gain a wide range of skills and valuable experience during the process, which will add value to your career and increase your chances of getting higher-paying jobs or joining more successful project teams. This is a positive cycle, and it is the main reason why I prefer this direction.
Fourth, entering major exchanges such as Binance, OKEx, Coinbase, and Bybit. Firstly, these major exchanges offer high-paying positions that are no less competitive than those at big companies like Alibaba, Tencent, and ByteDance. Secondly, these major exchanges have a wide range of businesses, including centralized trading, Web3 wallets, DEXs, and underlying blockchains. There is an opportunity to transfer internally. Finally, by entering major exchanges, there is a chance to access information that others may not have and utilize this information advantage to make money.
These are the main answers I have summarized regarding the question, “Where are the opportunities for ordinary people?”
Tags:
Bybit
Coinbase
Keegan Xiao Gang
OKEx
WEB3
Binance
Note: The opinions expressed in this article only represent the author’s views and do not constitute investment advice.
Original article link: https://www.bitpush.news/articles/6909063
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