Introduction
Over time, many investment and financial platforms have educated their users on the need for multiple income sources. Many people have seen the need for more sources of income, only that the creation of these income sources seems challenging. No matter the category you fall under, you’ve checked this post out for a reason. Hopefully, you’ll find a way to create more income sources when you’re done reading this. Asides from exploring the importance of multiple income sources, I want to directly address the issue of creating these sources directly.
The Need for all Multiple income sources
There’s a popular phrase among economists — Human wants and needs are insatiable. With this phrase in view, many have brushed off the need for more than one source of income seemingly because their needs and wants cannot be satisfied. Above the satisfaction of Various needs, there are some necessities that form the core of a human being’s existence. Even one who wants to live the least extravagant life needs money to provide the basic elements needed for survival. Money is integral in our daily dealings and thus forms a large part of modern society.
The old method of getting an education, graduating, and getting a stable job is slowly failing. I’ll answer the question of how it’s failing immediately
In a typical 9–5 setting, you can, unfortunately, be among the set of workers who are laid off. It may sound shocking but that’s the reality in a scenario of budget cuts in a company, many employees lose their jobs and that doesn’t have anything to do with their competence.
Many people incur a ton of debt while they are in high school and they have to pay this debt from their stable income. Earning to pay off debts doesn’t give a person any chance of financial freedom, instead, it raises the stakes as you have to work more to earn more just so you can pay off debts.
The old method gives no extra room for long-term planning. While working for a firm or company, there’s an increased pressure to deliver — late nights work, bad aches and all other detriments constitute poor work output. In the most subtle of ways, this affects a person’s overall sense of judgment and coupled with the fact that there’s no full assurance from your current job, it’s difficult to conduct a long-term plan.
Assuming you are still in doubt over the viability of more income sources, it’s necessary to pay attention to the latest economic trend — Inflation. The effects of inflation are best studied by the role they play in the price of goods and services. Considering its chain effect, the prices of goods are increased, but the income amount remains fixed. Therefore, one would have to spend more and save less. At a point when expenses are greater than your income, you may be stuck reverting to borrowing and debt accumulation which is bad for your financial progress.
It makes sense right? Seeing that having money from one source is very risky. When it comes to having many sources of income, you have a lot of different options. The digital age we live in has created more opportunities to make money than ever before. With the creative innovation offered by Solcial, more opportunities abound for all users.
Monetization opportunities on Solcial
In the past users were not able to establish total ownership of the content they make on social platforms, meaning that they did not earn directly from those content.
To negate this trend for its users, Solcial will allow minting 1 million new tokens, the ticker symbol of your token will be of your choice (with 7 characters max). And these tokens will be truly yours, you can do whatever you want with them. You can sell your tokens to your audience and in turn, give them access to exclusive content. If you prefer to keep all of your content free, you can also monetize through NFTs and simply by allowing your fans to invest in you through your token.
Content creators are not the only skilled population that can earn from solcial,
Influencers can monetize their audience and grow their followers by providing them a way to invest in the influencers directly.
Companies can also monetize their ‘social capital’, and offer, to their token holders, discounts at their stores, or premium access to exclusive content
Artists can also create their account and offer NFTs, or special limited editions of their arts, or even offer ‘private shows’ to their token holders, to their fans that are investing in them.
Also, users and investors can leverage on solcial by investing in the governance token (SLCL). The structure and usage scenarios of Solcial token make it an ideal token for potential investors.
Its usage include
As a governance token, to vote on the DAO for future decisions about the platform
To have a discount on trading fees
Users will need SLCL to buy the token of anyone. Even if we display the price of every user token in USD, the quote currency is always SLCL.
With these scenarios, the token has a lot of potential of increasing in value and is a gem for investors who are holders.
The key takeaway is — Solcial aims at giving users value and helping them develop more sources of income to increase sustainability.
About Solcial
Solcial is a permissionless social network that gives users the power of web3 by allowing people to interact with each other without fearing censorship and allowing content creators to be rewarded fairly at market value.
Join the wave to restore value to users, and connect more with Solcial
Discord: https://discord.gg/solcial
Telegram: https://t.me/solcial
Twitter: https://twitter.com/solcialofficial
Blog: http://blog.solcial.io/
Website: https://solcial.io
Email: hello@solcial.io