Living An On-Chain Life

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21 Aug 2024

Technology Has The Power To Adjust Lifestyles
The arrival of Cryptocurrencies has given birth to multiple new technologies and income-generating ideas such as DeFi, SocialFi, and other WEB3-based ideas. An online model is by no means new. It’s been around for decades already. However, many of these models are reincarnated traditional ideas and business models. All that is happening is existing business models are merely being translated into online representations.
Nothing much has changed… an employer now operates via a screen rather than in person. Some additional models are more aligned to a WEB3 lifestyle due to structuring. However, these models are inferior compared with the elegance of WEB3-based models. WEB3 advocates independence, by default, and in many instances, provides additional freedom thanks to WEB3 mechanics and superior models.
Tokenization is a foundational aspect of WEB3-based income models and is classically depicted in your average Proof-of-Stake protocol. Inflationary-based rewards incentivize token holders to lock their tokens on-chain and immediately begin generating yield. Stakers who continue to hold and stake their tokens over an extended period will bring about a shift regarding income generation via on-chain solutions.
A Select Few
On-chain income is still a relatively new concept. Most Crypto enthusiasts have a supplementary form of on-chain income. This can be staking, DeFi, or content creation on WEB3 SocialFi platforms. However, in many cases, it’s an insignificant amount. However, a thriving WEB3 economy is likely to change that. A lot of growth and maturation needs to unfold within the WEB3 space.
When you peruse some of the more popular WEB3 SocialFi platforms, you will note that the same handles appear, regardless of the platform. There is still a relatively small WEB3 remnant. In many ways, key individuals sustain and give life to these platforms. These will eventually reap the rewards of a WEB3 standard. On-chain lifestyles will become more predominant.
WEB3 supporters need to “hold up the arms” of these platforms until adoption increases significantly. This is how many additional on-chain lifestyles will be birthed. For now, it’s a select few. However, the development of this trend is a logical progression in terms of crypto, WEB3, and blockchain-based worlds. For some strange reason, few people can perceive logical and even natural progressions.
For the most part, the present is viewed as a form of finality. In other words, there is little change from this point onwards. That is how much of society thinks because they don’t dedicate their minds as connoisseurs of the mind. Little attention is given to more relevant and pressing patterns of thought. As a result, the majority are always multiple steps behind what unfolds technologically, and the world in general.

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Final Thoughts
Even though there are currently rewards within the on-chain world, it’s still a sacrificial labor of love. Certain individuals have envisioned the future and are walking in its direction. An on-chain lifestyle is awaiting many individuals. However, it exists in the future, and very few have the faith to embark on a journey without the “guarantee” of mass adoption and the status quo. However, eventually, the future arrives. See you next time!

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Disclaimer
First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.
This article was first published on Sapphire Crypto.