So you know that KALA Network is a Web3 SocialFi platform, but as a creator how exactly are you going to earn on KALA? Worry not, we’re here to let you know the easy (and advanced) way to start earning on the KALA SocialFi platform.
How creators usually make their money
To make it easier to follow, let’s first take a look at how people usually earn money from their content. It’s actually very straightforward, you either receive money directly from your audience or indirectly from a 3rd party.
The first one is easy enough to understand, you make something, people like that thing, people give you money. The classic money-making strategy 😁. That being said, it’s actually very difficult for anyone to get the exposure they need by themselves. It’s more than likely that your content gets lost in the crowd and never makes it to your targeted audience.
Now that is where the second method comes in and it is also what we want to get into. All you need to do is pay or take a pay cut for a 3rd party. This 3rd party will promote your work, they usually already have a big following and resources to bring your content to the masses. Thanks to their services, people now know about you and what you create, which brings profits to both parties.
Ok, now that you get the gist of it, let’s try an actual example. Have you heard of Youtube? We’re sure you have. It’s one of the biggest platforms for content creators all over the world. Youtube is the 3rd party that gives creators the platform for their content. They monetize videos by placing ads on them. The more views you get the more ads are seen and the more money your videos generate. Of course, part of that money goes into Youtube’s pocket. Sounds good? Let’s continue on.
The problem with monetization on Web2
Wait, web what? Web2. It’s the current iteration of the world wide web that you’re currently using. Ok, but what does it have to do with what we just said? Everything, actually. Youtube, along with many other big companies are Web2 media platforms. And there are some problems when you try to earn money from these giant corporations.
- Transparency: You actually don’t know how much money generate through your content. Web2 platform will tell you how much you made and take a cut. That’s it. You just have to put a one-sided trust in them.
- Moderation/Censorship: Freedom is limited. Because you put your content on a 3rd party platform, they get to decide what they want to do with it. If they deem your content inappropriate, they can unpublish, censor it or just delete it entirely. Once again, you just gotta trust that they make the right calls. If not and you’re a small creator? You’re on your own to convince them.
- Policy changes: You may be thinking that as long as you follow the rules, everything will be ok. The catch is that “the rules” can be changed anytime without prior notice. Oh hey, you can just hope that these platforms will put out fair and just policies.
- Fairness: Speaking of fair, how much do you think you actually earn from your content. However much that is you surely won’t be given the majority of it. Despite their reliance on user-generated content, Web2 platforms hold absolute power over your earnings.
Now if you’re a popular creator, you might not notice any of these issues. The unfairness becomes apparent if you’re a small creator or just starting out.
How monetization works on Web3 platforms
Web3 is seen as a decentralized space built on blockchains where you own the right to your content on the internet. It isn’t meant to change or expand the internet we know of but to restructure it in a way that would solve many problems of the current Web2. And content monetization is one of them. Currently, there are 3 ways creators can make money with Web3:
- NFTs: Creators get to turn their creation into an NFT. There are many ways you can make money with NFTs, but the most common method is to sell your NFTs directly to buyers.
- Social Tokens: A social token is a type of cryptocurrency used to monetize a brand. They can be personal or community tokens. The value of a social token revolves around the brand issuing it and is used by holders as a way to feel belonging to a certain group.
- DAO: DAO stands for Decentralized Autonomous Organization. DAO is a type of organization that was designed to be automated and decentralized through the use of blockchain technology.
In the three, fans pay to “own” a piece of the creator’s digital content. This grants them access to a community, and it’s this sense of community that brings benefits for both the creator and his community members.
For the creator, he makes money from selling digital content to his community – it could be an NFT or, a crypto token.
Community members, in turn, are rewarded for their investment in the content as their investments (the creator’s digital content), have the potential to increase in value with time.
It’s like buying a stake in a company. You become part of the owners, and you can trade your ownership on secondary markets at higher prices later on.
Monetization on KALA Network
KUDO
KUDO is KALA Network SocialFi or Social Token. They are the currency that you’ll earn through Social Mining on our platform.
Social Mining
On KALA Network, users can earn KUDO tokens from socializing/doing social tasks on the platform. This process is called Social Mining. This applies to every user on KALA, as long as you socialize, your hashrate will increase. This is the main earning mechanism of KALA. You can make the most out of social mining if you own the corresponding PEN/PENCIL NFTs for the content you provide.
PEN/PENCIL NFTs
PEN and PENCIL are KALA Network’s exclusive NFTs. Once KALA mainnet launches, we will apply our own GameFi elements for this mechanism where each PEN or PENCIL NFT will have many tiers and upgrades. Each tier and upgrade will have a positive effect to increase your hashrate as well as the NFT’s own attributes. You can even craft your own new PEN by combining different PENs you own.
Of course, the main value still comes from the NFTs themselves, they’re impressive pieces of artwork and there will be multiple NFT collections based on natural elements, zodiac signs, personalities, and even blood types so everyone will have a PEN NFT that is just for them. 👏
We will share with you the details of our PEN NFT collections very soon, so stay tuned!
How to earn on KALA Network
Now that you know how KALA Network operates and the tools we provide. Let’s go over some big tips that you should know in order to build your community a maximize your earnings.
Have a clear vision
You can’t just create random stuff and hope to make money out of it. It works sometimes but we think you shouldn’t bet on your luck. Just like with anything, having a clear vision and purpose of what you want to create is the first step toward success.
If you skip this crucial step you will soon find that it’s beyond difficult to get anyone on board with a random idea that you just think of 5 minutes ago.
Create
Now that you know what you want to do and how you will do it, it’s time to put your ideas into practice and start your social mining. Don’t forget to get the correct PEN NFT that will maximize your income.
Promote
Promoting your content is the next step. There are many ways you can promote your content. Sharing, inviting your friends, hosting community events… and most importantly, being consistent. On KALA, the more you contribute the more you earn.
Make value
Once you have gained the attention of the community, you can now breath a sigh of relief. But do not slack off. If you want your new fans to stay, you’ll have to provide them with value. Of course, your content alone may be enough, but you can also try to explore options like exclusive content or early access to content for your followers.
Conclusion
That’s all you need to know about how to make money on KALA Network. At the end of the day, if you’re willing, you can have the potential to receive much more compared to traditional Web2 platforms. Your time and contribution are always valued on KALA Network.