What It Means To Be A Content Creator
Although this is an approach for content creators, it can also work for those who offer great curation in the Hive ecosystem. I remember joining Steemit back in 2016 or 2017. I can’t quite remember now, but I do remember loving the initial concept. Years later, Hive has forked from Steemit, offering even more amazing opportunities through the wealth of tribes, tokens, and communities that are thriving on the network. INLEO, in particular, has experienced significant positive development in recent years.
With each passing day, I find myself becoming even more bullish and excited about the future of Hive. I have been spreading the word and writing about Hive quite a bit over the past few months. This is largely because I believe that if you are creating content, you need to build a presence on Hive. It’s a long-term move that helps establish you in the Web3 realm. Web3 will eventually become more mainstream.
Understanding how Hive works is actually imperative to grasp this idea. I will, however, share my simple yet effective strategy for Hive, assuming you understand the dynamics at play. If you are unfamiliar with the basic workings of Hive, I suggest reading this post to gain a foundational understanding before continuing. It’s a simple yet effective concept. Do you want to earn more on Hive? Then you need to understand the ecosystem and what is rewarded.
Keep Generating Income: Build Systems That Pay You Daily
In the world of crypto, generating income is equally important as generating gains, in my opinion. If I have to wait for significant bullish momentum to realize any crypto profits, then I don’t even have a side hustle. Even a side hustle rewards on a daily, weekly, or even monthly basis. Spending months, or even years, waiting for the next price explosion is one way to dampen your spirits.
However, if you are building and earning at the same time, not only are you encouraged on the road ahead, but you are also generating income and possibly adding to your stack. Finding ways to consistently generate additional income is integral to being highly functional in the crypto and Web3 economy. Waiting to realize gains is only one aspect of crypto.
My Main Objectives Achieved: How I Reached My Goals And What Comes Next
By executing this simple approach, I am able to satisfy my own objectives that I set out to attain through multiple ideas. What Hive does for me. Hive has a beautiful way of offering all three in one! These being:
- Acquiring stablecoins to hedge my portfolio.
- Generating income, both passive and hybrid.
- Increasing my holdings to secure future gains.
It is pretty much that simple, and it can all be done through blogging and content creation on Hive. It’s as if Hive is designed as a potential business model. This makes it a strong model for anyone who can effectively utilize and leverage this opportunity.
How To Secure A Presence On Hive blockchain And Build Authority
This is by far the most difficult aspect of this strategy because you will need to consistently provide high-quality content. There is an unspoken rule on Hive that ensures noobs do their time, proving that their presence adds value to the ecosystem. This is actually what makes Hive work so well. Upvotes have value to the one issuing them, so users naturally seek to part with an upvote only when it is well deserved.
I have been posting quite consistently on Hive and other tribes for well over a year now. I haven’t concerned myself with earnings but have rather sought to produce content consistently. Sometimes posts perform really well, but it is important to remain focused when they don’t. I think the seven-day upvote window can also play a role, as a good post can often slip through the cracks and be discovered later.
This is the “building” part of building a business. Many people seem to forget that aspect. Working to create great content and add value to the entire ecosystem should be your primary goal for at least a year or two. To be honest, it actually needs to be your primary goal indefinitely. The community is very strict regarding quality and originality. AI-assisted content is generally frowned upon by most communities.
What About Powering Up On Hive?
Ideally, you want to power up all of your HIVE earnings. You also want to stake your HBD in order to earn 20% (now 15%) APR. This needs to become a habit and should be your secondary goal, after creating and publishing content. I don’t personally advocate buying HIVE with your HBD, as I like to have a stablecoin stash. Furthermore, your HBD should be a long-term hedge and investment. Compounding your returns over time should help to keep up with inflation and monetary expansion.
When Should You Change Your Content Strategy?
Once you have accumulated a significant amount of HIVE and HBD, you can begin using your account for business. What is considered significant is unique to each individual, and you get to decide where that point is. So let’s recap! You now have your holdings in HBD, which is more of an insurance on your “business”. You also have your holdings in HIVE, which are ultimately part of the business’s cash-generating activities. Now you can begin taking 70% of one-half of your author and curation rewards as income. The remaining 30% can be locked up in order to secure growth in your account/business.
When To Extract Income On Hive
In a bull market, I would suggest allocating 70% of your HIVE earnings to staking and staking all your HBD earnings. In a bear market, you do exactly the opposite because your HBD won’t increase in value later, so you realize those gains. Your HIVE, on the other hand, will, so you power up the HIVE so that later on you can experience an explosion in the value of your account. Plus, you are growing your upvote count, which increases the value of your curation. This is obviously working on the 50/50 allocation setting of HIVE/HBD.
Conclusion
In essence, you are removing less than 50% of your monthly earnings as income, allowing the remainder to work for you and increase your account’s value and efficiency. This might be helpful for new users as a starting point; they can later modify it to their personal needs and preferences. It is important to note that earnings can also be generated within communities, such as INLEO. This has a multiplication effect on what you are accomplishing on Hive. It can also help you reach your own point of “significance” before actually withdrawing income from your work.
Final Thoughts
Hive provides a way to monetize your content in Web3, and although Web3 SoFi platforms remain embattled and are struggling to secure relevance, leaders will eventually surface. Hive is the current leader in SoFi. However, that is how things stand currently. This could change. However, Hive remains an established and functional blockchain-based social media and SoFi platform. Furthermore, it’s paying now with the potential of increased earnings in a bull market.