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As the Web3 ecosystem matures, community managers have emerged as pivotal architects in building and sustaining vibrant communities around decentralized platforms and projects. However, the scenario has shifted whereby there are so many projects in the marketplace competing for your attention and support.
Combined with the increased level of user sophistication, these tendencies stimulated both threats and opportunities for the development. There have been signs that community members are willing to spend more for communities with values that add meaning to their existence, hence the opening up of new forms of monetary value for the same.
As Mr. Market now occupies center stage, protection and diversification of revenue options have taken on critical importance. While formerly, community managers were expected to focus on community development, they also have to come up with new revenue models that correspond to Web3’s main tenets. This is not a shift that is solely about the financial reality of projects, but an opportunity to enhance, strengthen, empower, and increase the Value Quotient of communities in the decentralized ecosystem.
The most popular method of monetizing Web3 communities is a system for launching and distributing native tokens. Considering that tokens are issued to the members of the communities, it is possible for the community managers to make certain actions produce tokens such as participation, contribution and time spent within the community. These tokens are can be used for various uses, for example, viewing of restricted content, voting in product choices, or bartering for special perks.
Incorporating a membership or subscription-based strategy can be easily useful to the community managers as a consistent source of income. Through this model community managers can give out different features based on different sub-sections of the paid campaign such as power ups, special content, new features or special attention to the member. Adding membership models to the participation rewards by using closed community activities or events will improve participation.
DAO refers to a decentralized organizational structure that has received significant attention in the community and revenue management domain. Community managers can establish a DAO for timely decision-making by the members on how they can contribute to the development of ideas that could be monetarily rewarding for the members. Therefore, while supervising and coordinating the activities of a DAO, the community managers can quickly monetize themselves while supporting their communities at the same time.
Community managers can use the approach of affiliate marketing as the means of financial sources for their community, promoting products and services, which the community may find interesting. Through affiliate marketing, managers can earn commission on sales made through a referral link of brands or projects that the community will find valuable in their day to day lives. Not only does this create sources of income but also creates value for members because they are introduced to products that can complement their experience.
As these communities grow, they create demand for brands eager to target specific and appropriate stakes. This is good news for community managers because they can negotiate sponsorship or partnerships with companies interested in such topics. These partnerships can be in form of hosting events under a certain brand name, co-creating content or marketing campaigns. In this way the managers can make successful partnerships with the brands which are important for the community and in that way the monetizing can be achieved.
Due the increasing exposure to application of Web3 technologies, there is a need for learning facilities and tutorials. Community managers can earn from giving classes, training, or even webinars that meet the needs of their communities.
The opportunity to buy and sell branded merchandise and digital assets is one of the biggest opportunities to emerge from the rise of NFTs for community managers. Community managers can set up and monetize products related to the community like t-shirts, toys or Different art that is embodying the community or has something to do with it.
Community managers therefore become an important element of Web3 as the ecosystem matures and continues to grow. Instead of using traditional models, such professionals can transform their work into stable source of income that will also improve the quality of services within the community. Token-based rewards and healthcare content that can be used for promotion are mentioned, and many more, which give the opportunity to successful development to community managers within the constantly changing world of Web3. The good news is that community managers can guarantee the success of their communities and benefit from the financial and other incentives resulting from good engagement and management.
