It’s becoming a more and more popular side hustle to build a digital asset business, whether it’s selling copyrighted digital art and videos, creating online how-to guides and courses, or building a cryptocurrency empire. Luckily, it’s much easier than you might think to do this kind of thing, and some of them can even leave you with some passive income (although others require a bit more of a time investment. So what are some things you can do to build a profitable digital asset business?
What is a digital asset?
A digital asset is anything you own which exists in a digital format and for which you have the right to use. This could be an ebook, a photograph, a song, a pdf, a cryptocurrency wallet or anything else you can think of that exists in a digital format.
How can digital assets be profitable?
It’s possible to sell digital assets to others, and this builds a profit. It can often be quite lucrative as many digital assets are cheap to create or get hold of, and can be sold on for a high markup.
How can I build a profitable digital asset business?
Sell your creations online
One thing you can do is to create a digital asset yourself and then sell it online. This can be more or less of a time investment depending on what you do. One lucrative idea is to creat your own individual ‘weekly planner’ design and sell it available for download on etsy; you can do a similar thing with digital art. If you create a digital artwork and sell it either for download or offer it as a print, you can create a lot of income off of each sale which, after you’ve made up the money from the time investment it took you to make it, is pure profit. This is one example of passive income; once you have created the digital asset, you don’t have to do anything more to it except what the sales roll on in. Another simple way to achieve this is to create an online course or ebook about something you’re an expert in and sell it – you only have to make it once, and it keeps on selling.
Create a cryptocurrency wallet
Although cryptocurrency sounds like it should be the reserve of MI5 and movie-style nerds hiding in basements surrounded by screens pulsing with green text, cryptocurrency is actually a relatively simple technology which is as easy to get your head around as regular stocks trading – you just need to put the time in to understand it, and after that you’ll be on your way to build a profitable cryptocurrency wallet.
It’s important to keep your cryptocurrency safe, and one way to do that is to use an MPC wallet which is an online wallet which uses multi computational entry rather than hexadecimal codes to restrict access; this is highly secure, and a great idea if you’re planning to invest in multiple forms of cryptocurrency. Additionally you can als use safety software – with Fireblocks crypto your digital assets will be safe and sound.
So there you have it; if you’re watching your friends build profitable digital asset businesses, you can now get in on the action by using your artistic talents to sell a digital design, or working out your brain to build a cryptocurrency wallet.