Earn AVAX - The Arena
Since the creation of blockchain we have seen several different web3 social media platforms pop up over the years. Each one is unique in their own way and uses a certain blockchain to support their transactions and rewards. There are even social media platforms out there that are using Directed Acyclic Graph (DAG) technology for their transactions and rewards such as Tangled. Tangled changed the game for me. It allows you to earn from your attention and time and uses DAG technology to reward you with their native token called MLX. You can then exchange that MLX into WMLX and USDC using their built-in exchange. Blockchain, DAG, and Cryptocurrency and changing the way we do things online and allowing our time to be worth something. I know I always bring up Tangled, but it is by far one of the best platforms I have found. Tangled is not the only platform making waves in the Cryptocurrency world though. I have recently come across a couple of other platforms that are making a name for themselves.
In this article I want to go over a platform that uses the Avalanche blockchain and allows you to earn from your attention and time. This platform is still fairly new, so I am going to do my best and try to cover everything this platform has to offer. The platform I am going to cover today is called The Arena.
So as I always say sit back and grab a cup of tea and let us dive deep into the platform known as The Arena. I have done a good amount of research on this platform but it is always good to do your own research as well. There is a lot to go over when it comes to web3 platforms and I am sure I will miss a couple of key points but I am going to try my best to cover everything.
The Avalanche (AVAX) Blockchain
The Arena uses the Avalanche (AVAX) blockchain, so I thought it would be best if we went over what exactly this blockchain project is and why it is important before we go over the platform. Avalanche (AVAX) was created in 2018 by Ava Labs, a technology company led by Emin Gün Sirer, a Cornell University professor. This decentralized, open-source platform aims to provide fast, secure, and scalable solutions for blockchain-based platforms.
One of the standout features of Avalanche is its consensus mechanism called Avalanche Consensus, which allows for high throughput (the amount of material or items passing through a system or process) and low transaction fees. This makes it an attractive option for developers looking to build decentralized applications (dApps) on a platform that supports smart contracts.
But what truly sets Avalanche apart and got me excited about it is its interoperability (the ability of computer systems or software to exchange and make use of information) with other blockchains and its focus on scalability. This means that as the blockchain ecosystem grows, Avalanche is well-positioned to adapt and integrate with new technologies, making it a promising platform for the future of blockchain technology. Other blockchain projects that emphasize interoperability include Polkadot, Cosmos, Ethereum, Chainlink, and many more.
What is The Arena
Now, I am not going to act like I know everything about this platform or blockchain project, but I am pretty excited to share what I do know about it. It seems every blockchain is coming out with its own type of social media project. Polkadot has Grill, Solana has BULB and Kaichi (not sure what is going on Kaichi right now though), and we cannot forget Tangled. Tangled does not use blockchain, though. It uses something called a Directed Acyclic Graph (DAG). These are only a few of the web3 social projects that are growing right now. It is wild because not too long ago, you could only choose from a small number of social platforms that were all owned and operated by the same people. The world is changing, especially when it comes to the digital world.
So, what exactly is The Arena, and why is it different from other web3 social projects?
The Arena is a new platform that uses the Avalanche (AVAX) blockchain. The Avalanche Blockchain is a decentralized and open-source. It also supports smart contracts, enabling developers to build decentralized applications on the platform. Avalanche's interoperability with other blockchains and its focus on scalability make it a promising platform for the future of blockchain technology.
The Arena uses these features of the Avalanche blockchain to create a social media platform where users can earn from their attention and time. This platform is still fairly new, but it offers a unique opportunity for users to engage with content and be rewarded for their participation. Not only are you getting rewarded for your time and attention but The Arena uses a ticket system where everyone has a ticket. People can invest in you and buy your ticket. They can also sell your ticket. It is like a sleepless stock market that instead of running on the price of companies it is running on the price of people. The more people that like your content and decide to invest in you the higher your ticket price goes up. I will be going over more about this in the next section.
I am unable to find out who created The Arena, but the CEO is Jason Desimone. If you would like to check out the team behind The Arena, then check out The Arena’s LinkedIn page.
A good number of these web3 social platforms do not have the best layouts but The Arena has a easy to use layout and allows anyone to earn from just being themselves and interacting with the platform. In the next section we are going to go over how to earn.
How to Earn
There are a couple different ways you can earn using The Arena. So let me kind of explain how the platform works. Each person who uses the platform has tickets like I talked about above. These tickets can be bought and sold on the platform. Every time someone buys or sells your tickets you earn the fees from the ticket transaction. So, the more people buy and sell your tickets the more you will earn.
The other way you can earn is by participating in the platform. The more you interact with The Arena the more you will earn. The only thing about this is that it is a airdrop. You will not earn daily but you will earn each season. So the more you use the platform the more you will earn the platforms token called ARENA.
Earning has been slow for me because I am a small time creator and do not post that often. I try to stay as active as possible and plan on making The Arena one of my main web3 social platforms. There are so many web3 platforms being created these days you really have to find the ones that fit you. We all know Tangled is my go to platform at the moment though. When I look for a platform I look for a strong team, open team, active and friendly community, and clear and straightforward way to earn.
What is $ARENA
The Arena token is what is airdropped when you get your participation airdrop. This token is the backbone of the platform.
Another cool thing about the $ARENA token is that you can stake it for a whopping 50% APY (can and will be changed in the future). So the more you earn from the airdrop the more you can earn from staking. If you do not want to wait for the airdrop and you want to take advantage of their crazy staking amount, then you can also exchange you AVAX into ARENA using their built-in exchange.
In the next section we are going to go over how to withdraw and what you can do with your earnings.
How to Withdraw
The Arena has a built in wallet and it allows you to export your seed phrase. This means that you can export your seed phrase to a wallet that supports AVAX like Trust wallet or Metamask. Another thing you can do is withdraw your tokens from your Arena wallet directly to your main wallet but make sure you use a wallet that supports the AVAX blockchain such as Trust and Metamask. You also have to remember that this is a very early project and selling your earnings might not be the best idea.
I have just recently started getting into the AVAX blockchain and everything it has to offer. I have heard of it and collected a small amount of AVAX but never really messed with it. The Arena is showing me not only what this blockchain project is but also what it is capable of. The sky is the limit for this project and project like it. Just remember that all of these projects are still in their early days so anything is possible.
Final Thoughts
The Arena is a huge platform with a thriving community that keeps growing. This platform is one of my favorite web3 social platforms that I have come across. The fact that it uses AVAX and it allows creators to earn from each sale of their ticket is mind blowing. Other platforms have tried something along the lines of buying and selling tickets or "tokens" of a creator/user but none of them could get it right. The Arena is by far the best web3 blockchain project that I have come across that allows you to earn and grow by using a ticket system. So in a way we are all our own stock in a stock market. The more people that buy your ticket the higher your price goes. The more people that sell your ticket the lower your price goes. What makes this different then anything else though is that you earn from people selling and buying your ticket. You do not only earn from them buying it and holding it but you earn when people decide to sell as well. A truly remarkable system.
Nothing like this has been made before. Do not get me wrong people have tried but nothing has even come close to being this user friendly. The Arena makes it so even people who do not have the best knowledge in blockchain can still enjoy, use, and earn from using web3 social media.
Platforms like The Arena, Tangled, and Grill are changing the way we look at social media and how we earn from social media. The days of being monetized and controlled by a huge mega tech company are over. The people now control your worth. I know it can be hard to use something new and change social media platforms because we get stuck in the comfort of the known. When new things come a good amount of people are afraid of change even though that change could be literally life changing.
Social media is changing and now is the best time to get involved and create a digital name for yourself. I know there are so many platforms to follow right now and it can be hard to find the ones that allow you to earn, are privacy focused, and are truly for the user. This is why I dedicate a good amount of my time trying to find the best platforms. I hope you enjoyed this one and I remember to like, follow, and comment to help my page grow!
(Nothing I say is financial advice. I just share platforms I think are worth checking out. It is always a good idea to do your own research and see if these platforms align with what you are looking for and trying to accomplish.)
There is so much more to this platform but if I tried to cover everything this would turn into a book. Click the link below to check out The Arena!
The Arena — Earn AVAX social Media (AVAX)
My favortie earning platforms.
Tangled — Earn MLX social media (WMLX)
BULB — Earn BULB blogging (SOL)
Grill — Earn Grill social media (DOT)
The Arena - Earn AVAX (AVAX)
Kaichi — Earn SOL social media (SOL)
Slice - https://addslice.com/?crew=VFFbJ
ZBD - https://zbd.link/hcHi/invite?af_sub1=G96DF6
Use code G96DF6
Check out my website for more ways to earn Cryptocurrency and to see what projects I am following.
www.earnwithhatty.com
