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3 lucrative industries disrupted by crypto

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Smart entrepreneurs will always look to infrastructure and marketplaces over businesses. In Web2, it’s the difference between creating Google and creating an online website visited through Google. In Web3, it’s the difference between creating the Ethereum ecosystem or an ERC-20 token on Ethereum.

The infrastructure and architecture that enterprises and meta-enterprises are built on is orders of magnitude more profitable – provided you can get started early and stick with it. The most important thing is to think in terms of markets rather than companies. If you create a marketplace, you own all transactions.

This is extremely relevant right now, as big business monopolies are being dismantled and redistributed through distributed ledgers, creating new markets in a bold new world. This provides ambitious entrepreneurs with opportunities to make profits that are only available in times of disruption, not stability.

Related: 5 Things to Know Before Investing in Cryptocurrency

Here are three hugely lucrative markets that are rapidly shifting into a fairer pattern, and why you should consider jumping into them (or any other crypto-disrupted industry).

Industry #1: The video game industry

The stakes of the centralized game are well known. Platforms like Steam, Microsoft, and Apple take over 30% in exchange for publishing games. Game development is a competitive industry and between marketers and big platforms, developers often see very little profit. That’s a problem given the size of the esports and online gaming industry’s annual revenue.

This is why this old model quickly becomes obsolete thanks to multiple innovations. The new models are reward-based, which means that the entire game architecture works in such a way that all parties are rewarded for their participation. Crypto wallets are integrated into the system with in-game NFTs available for trading, selling, and buying. Assets are exchangeable between blockchains with minimal fees. The problem is linking Web2 and Web3, although some decentralized providers, like Ankr, offer a foolproof solution.

Related: Meet Entrepreneurs Who Are Redefining The Crypto Space With Their Passion For Building Sustainable Blockchain Businesses

Industry #2: The Freelance Industry

The freelance or “gig” market is huge. It is so large that it is difficult to obtain reliable estimates. Self-employment is independent of industry. This means you can have hundreds of different industries – healthcare, finance, gaming, eSports, etc. – all of which contribute to the numbers. With people currently forced to work from home, self-employment is the future of the global economy in many ways.

Yet many freelance platforms take over 20% of all completed work, and that’s outside of the automatically charged VAT. The self-employed must then pay regular income tax and do not benefit from any advantages. One of the biggest freelance platforms, UpWork, now also charges freelancers to bid on jobs and turns down a number of new applications. Additionally, it has the power to suspend worker accounts at any time. There are also withdrawal fees. It all adds up – in the end, workers and employers lose and centralized third parties win.

Decentralized companies like “The Collective” are making inroads in this regard. The focus is on building a trust economy based on mutual collaboration instead of a gig economy based on competition. Built on Chainlink and automated through smart contracts, the goal is to create a marketplace similar to Fiverr and Etsy.

Related: 3 Reasons The World Never Goes Back To Crypto

Industry #3: The Film Industry

Television has long been associated with exclusivity. Getting into this industry has always been notoriously difficult. Even with a lot of talent, people have had to network and get to know someone “inside” in order to get known.

But distributed ledgers can break even this industry and give the public more power in terms of contributing to film and television. FilmCoin, for example, allows people to truly become part of a studio. The High Utility Token (FLIKS) can provide access to studios, actors, directors, and even earn chances to appear in a movie. A whole new film market is being created thanks to distributed ledgers and NFTs.

The long-term approach

A long-term approach to revenue generation is needed. Especially when it comes to the hype and hysteria inherent in cryptocurrencies, it’s easy to feel like you’re missing out on the huge profits being made in one coin or another. But lasting benefits take time, commitment and dedication. There are always more winners than losers – the winners are those who write the blog posts. Losers don’t, for obvious reasons.

The most sensible solution might be to diversify blockchain projects and industries. Since all industries are disrupted, it will pay to be involved in as many projects as possible to take a slice of a very big pie that is destined to be redistributed. As long as you’re patient, it really is like shooting a fish out of a barrel.

Make no mistake, profits are redistributed from centralized entities to smaller organizations and individuals. Just be prepared to receive as much redistribution of wealth as possible, be it in gambling, freelancing, film or any other industry that is being disrupted by modern technological mechanisms. Positioning is essential.

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