Build Personal Moats: The First Decentralized Writing Platform That Pays Writers Is Here

Build Personal Moats: The First Decentralized Writing Platform That Pays Writers Is Here

In today's competitive world, building personal moats has become essential for success in your career. A personal moat refers to a set of unique and accumulating competitive advantages that are specific to you and not easily replicable by others. It is crucial to find something special that drives increasing, compounding value over time. To identify your personal moat, start by asking others about the things that come easy to you but are difficult for them. Additionally, look for aspects of your skillset that are hard to reverse engineer.

One concept that can help you hone in on your personal moat is the Japanese concept of Ikigai. It refers to the intersection of what you love, what you're good at, and what the world needs. In the current internet economy, specific knowledge and rare, valuable skills have become scarce resources. Therefore, if you want to build a moat, don't just join the rat race; strive to be the fastest rat!

While we often talk about "passive income," we don't emphasize enough the importance of "passive social capital" or "passive knowledge gaining." These are the assets that grow over time without requiring constant effort to sustain them. By focusing on building an asset that compounds and grows over time, you can accumulate social and financial capital effortlessly.

There are several hacks to build personal moats. One approach is to pick something that may not be big now but has the potential to become significant in the future. For example, investing in cryptocurrencies in 2016 when they were not as mainstream. Another strategy is to rely on exclusive relationships that you have access to. This could involve entering industries like enterprise healthcare or gaining access to limited partners. Lastly, you can choose something that is legibly impressive or valuable but has no playbook. This could involve learning from the examples set by individuals like Tyler Cowen, Tim Ferris, or Elad Gil.

The question of whether to specialize or generalize is often debated, and both approaches can work. However, it is crucial to be genuinely good at something. Even if you choose to be a generalist, strive to be the best at the intersection of a few different skills. Identify what comes easy to you but is difficult for others, and then dedicate yourself to becoming exceptional in that area. Once you have achieved mastery, leverage that skill to accrue social and financial capital.

Now, let's shift our focus to the first decentralized writing platform that pays writers – Mirror.xyz. This revolutionary platform aims to transform the way we express, share, and monetize our thoughts through a decentralized, user-owned, crypto-based network. When you become a writer on Mirror.xyz, you also become a co-owner of the platform. The entire platform is run and built by its contributors, giving writers a sense of ownership and influence.

Mirror.xyz operates using crypto tokens, specifically the $WRITE token. When you possess these tokens, you gain the ability to publish on the platform. The community on Mirror.xyz plays a vital role in selecting the writers who join the platform. Each week, ten writers are chosen and given a token, which equals one publication. This democratic approach to selecting writers helps ensure diverse voices and perspectives are represented.

One of the most exciting aspects of Mirror.xyz is that it aims to democratize revenue streams for creators. In Web 2.0, creators typically monetize their work through a Software-as-a-Service (SaaS) model, where they receive regular payments for their newsletters, artwork, or crafts. In Web 3.0, creators can monetize their work through the issuance of social tokens or non-fungible tokens (NFTs). NFTs act as digital media ownership, stored on the blockchain, making them easy to transfer and divide into smaller pieces. This allows creators to receive a percentage of the profit each time their NFT is sold, ensuring ongoing financial benefits.

Mirror.xyz's payment system is also unique as it compensates writers in cryptocurrency, specifically Ethereum. This aligns with the growing popularity and acceptance of cryptocurrencies as a medium of exchange and store of value. Being paid in cryptocurrency provides writers with a new avenue for financial growth and diversification.

The introduction of decentralized platforms like Mirror.xyz is likely to inspire centralized platforms to consider migrating towards decentralization. Jack Dorsey's recent announcement to explore making Twitter decentralized is a testament to the increasing interest in decentralized systems. In the future, decentralization may become a mandatory feature for both readers and writers, rather than just an option.

The benefits of decentralization have already been demonstrated through the success of cryptocurrencies like Bitcoin and Ethereum. Blockchain technology, which underpins these cryptocurrencies, has the potential to become a writer's best friend. It offers transparency, immutability, and the ability to establish trust in a digital landscape. By leveraging blockchain technology, writers can protect their intellectual property rights, ensure fair compensation, and maintain control over their work.

In conclusion, building personal moats and embracing decentralized platforms like Mirror.xyz can pave the way for success in the modern world. To build your personal moat, identify your unique strengths and find ways to compound their value over time. Whether you choose to specialize or generalize, remember that being truly exceptional in at least one area is crucial. Additionally, consider exploring opportunities in the world of decentralized platforms, where ownership, fairness, and financial growth can be reimagined.

Three actionable advice to consider before we wrap up:

• 1. Reflect on your skills and identify what comes easy to you but is challenging for others. Focus on honing and mastering these skills to build a competitive advantage.

• 2. Stay updated on emerging trends and industries that have the potential for significant growth in the future. By being ahead of the curve, you can position yourself as an expert in a valuable field.

• 3. Embrace decentralized platforms and explore opportunities in the crypto space. The world is rapidly evolving, and understanding and leveraging blockchain technology can open up new avenues for success.

Remember, building personal moats and embracing decentralization are not just about staying ahead of the competition; they are about creating a sustainable and fulfilling career path that aligns with your passions and values. So, take the time to invest in yourself, explore new possibilities, and forge your path to success in the digital age.