Blogging and blogs are in a bit of a slump right now. This is mainly because blogging used to be quite frankly easy money. You used to be able to start a website, write a few articles, and get a ton of traffic. That isn’t so much the case anymore. It’s good to have a blog. You can make a lot of money from your writing, even in the current environment. But it isn’t as easy as it used to be for an article to do “big numbers”. Some of this is due to TikTok. The arrival of short video changed a lot about how people consume content, even though we barely notice it. But something else that killed blogging is Google. Google has figured out that it makes money from ads. This means that it wants to increase user engagement, by forcing users to search as much as possible. Google doesn’t care about your article, at best. Google prioritizing results such as Shopping, Sponsored results, and AI snippets has led to a decrease in traffic for writers and publishers, particularly small ones with limited authority. But I think the decentralized internet will turn the tables in favor of content creators.
What is the decentralized internet?
The decentralized internet is exactly what it sounds like: hosting web content using decentralized protocols. You can read more about how the tech works here. It’s pretty cool stuff.
Why decentralize the internet?
Because in case you can’t tell, the internet is starting to feel like a giant shopping mall. You have to use social media in order to access creativity, and it’s hard for the little guy to get paid for creating content. In addition, there’s a lot of censorship. Like it or not, the internet has been politicized. A lot of this is due to the major FAANG-type corporations that keep a stranglehold on global internet traffic. YouTube alone accounts for about 6% of all global web traffic. That’s because it functions as a middleman between you and all of your favorite videos. The decentralized internet gets rid of all of these companies and puts the global collective in charge of hosting and disseminating content.
Why now?
The idea came back to everyone with the rise of cryptocurrency. Cryptocurrency’s decentralized nature, combined with its money-making potential, caused everyone to get creative all of a sudden. The decentralized internet is now known as Web 3.0, and there are a few projects underway to make it happen. It’s impossible to tell which ones will succeed right now. Here’s a non-exhaustive list of stuff you can check out. The technology is in its infancy, but it’s on its way. Lots of work has already been started. Web 3.0 projects are projected to be worth more than $94 billion by 2030.
What will be the impact of web 3.0?
Costs will hopefully be reduced. The decentralized nature of the system should reduce the need for middlemen and censorship. The internet can be free and meritocratic. That’s the short answer. The long answer is more complicated, and I’ll make my best attempt at predicting the future here.
Informational websites will maintain a stranglehold on the global landscape
As long as they’re properly updated, informational websites will always be able to maintain their market share if they have it. Sites like the CDC and Clevland Clinic aren’t going away anytime soon. Even though AI is able to collect information from around the internet, information still needs to be collected from somewhere, by someone. The sites that maintain large amounts of data will probably consolidate, and it will be easier than ever for them to make money online, as sites like Google are no longer around to gatekeep search results.
The money will be in information gaps and new online publishers
Information gaps come along when new fields of study arise. If you have an information gap, you can profit from it by creating an authority site, and keeping it maintained. Finding an information gap is pretty easy. You just need to look for cutting edge fields. Content about crypto and ai is doing well by default, because people aren’t experts in the field in the same way doctors are yet. If you have an opportunity to provide new information you should. Even though Google has made blogs much harder to monetize than they used to be. This is honestly for the better, there were too many writers and journalists in the past.
While the incumbents will remain strong, there will be a lot of room for competitors
Everyone has caught on to the fact Google is a pay per click website. Hopefully you have too. This means that Google seeks to earn money from users clicking on advertisements. They do best when you click on a lot of sponsored posts, in order to make a decision related to your search query. Google doesn’t really want you browsing the web for fun and stumbling across random people’s opinions. When the decentralized internet takes over, we have a shot at getting search results that are untainted by the scourge of capitalism. I’m being dramatic (I love capitalism) but this is a good thing. The internet will be an open field, a truly meritocratic place for people to share their thoughts.
Chat-GPT (or its replacement) will likely pay royalties to writers
We’re already seeing pushes like these happening in the more organized industries such as Film and Television. Different unions are already coming to agreements with companies like Chat GPT such that their voices, likenesses, or artistic work can be profitable for them. It’s highly likely that the decentralized internet allows for some agreements between AI companies and publishers. Whatever happens, AI companies won’t make organic content creators obsolete. They need us in order to survive, as our work is literally the lifeblood of their business. If OpenAI doesn’t end up paying writers, it’ll likely lead people to web content hosted by individuals and serve as a valuable source of pageviews. As was previously stated, content is the lifeblood of OpenAI’s business. It isn’t going away anytime soon.
Cryptocurrency is an amazing invention. It’s been more than a decade, and people still don’t appreciate the importance and value of technologies like Bitcoin and Ethereum. But blockchain technology is what’s really magical. I don’t have the time, energy, or space to explain blockchain in this article, but it’s revolutionary, and can be applied to lots of areas of life outside of finance. One of the areas is the decentralized internet. If you’re creating content and feel like it’s a struggle, don’t worry. Just put your head down and keep working. You just want to be better than most. As the world gets wealthier, your online content will give you more and more relative power. If you’re living in a wealthy country, get used to competing on a globalized marketplace. If you’re living in a poor country, good news! You’re on your way to a comfortable life. Regardless, continue creating content. The decentralized web is likely to make it even easier to succeed.
Thanks for paying attention.
