Web3 promises to transform the internet and the economy. How can you use it to your advantage?
The best thing about web3 is its decentralization nature - decentralized platform that emphasizes with communities rather than an individual company. Decentralized web means all the data belongs to the user and they have control over what information will be shared. It also allows anyone to contribute without it being used against them because they get rewarded with tokens which is a digital currency carrying real monetary value. With this feature, there's no need for hefty prices when getting projects done since many people will volunteer their talents in exchange for a few well-placed bounties; which attracts talent from all around the world at a much lower cost.
The head start everyone needs.
If you have an idea for a new company or start-up but don’t have enough capital behind, then Web3 might have a solution for you. In fact, there are many different types of Web3 platforms out there which specialize in being able to take on entrepreneurs by raising funding through decentralized finance offerings.
All of these new possibilities revolve around utilising tokens, these can be fungible and non-fungible. In regard to the first type:
- Pre-selling the tokens before launching them on the main net via SAFT agreements
- Launching your project on a Launchpad and conducting a token sale via a launchpad’s infrastructure
“Launchpad where someone offers their tokens at a predefined rate and volume;”
- Conducting a token sale through an ICO, IDO or IEO. We will cover these in detail in the upcoming articles along with contextualising the benefits of each given project requirements and stage.
In terms of utilising a non-fungible token:
- Launching a NFT collection for early supporters with a range of additional benefits for the holders. This method is mostly relevant for project with a community of supporters.
New business models. By The People - For The People
As a founding member of an organization, it is important to put forth mechanisms that will promote the success and completion of your projects. One such mechanism - which has been shown time and time again to provide reliable results - are decentralized autonomous organizations (DAOs). Unlike traditional businesses where everything revolves around one central authority figure, DAOs take advantage of technology so that they can be run solely by its members while maintaining complete transparency through immutable records stored on blockchains. This method of governance give the power back to the people. It is an organization for the people by the people. These features allow for peace of mind knowing transactions cannot be tampered with and lead to dishonest reporting because there's no longer any need for trust between two individuals when verification is taken care of by sophisticated algorithms written into smart contracts and when the set criteria is met the terms of the contract are executes, it is meant to facilitate cooperation through mutually agreed upon rules.
DAOs are also helpful for organizations who work with large sums of money and may be susceptible to a lack of trust when it comes to the people handling these funds, such as charities and venture capitalists. With DAOs each stakeholder has a say in the decision-making process; decisions are made according to what was voted on and automated processes execute these new decisions effectively.
Use Smart Contracts for your benefit.
Utilizing the tools and platforms of Web3 can significantly reduce overall costs as mentioned earlier with smart contracts you pay when the set criteria is met and in case of a project the criteria can milestone in the project which saves significant finances when compared to traditional ways. When comparing this to traditional freelancing platforms, Smart Contracts eliminate both platform fees or enforcement fees associated with tasks completed between parties involved.
Let us do the Hard Work
All-inclusive web ventures like Pace Ventures offer services to help people in the world of Web3 internet connect them with a vast network of experts and communities. They also aid with developing projects, helping you find funding to make sure your venture succeeds.
Join us on our mission to create a world where everyone can make a living by sharing their passion!
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