Don’t you wish you could go back in time and be one of the first to invest in the internet? You’d make a killing.
Well, you can’t go back and invest in Web 1.0: That was just static webpages — read-only.
And you can’t go back and invest in Web 2.0: That’s what we have today, creating content and interacting with each other on sites like Facebook.
But what about Web 3.0? That’s the latest version of the internet, still on the drawing board, being built on blockchain technology.
Don’t know what the heck I’m talking about? Then you’re in the right place.
Because today we’re talking about Web 3.0: what it is, how it works and, most important, how you can make money from it.
As usual, host Stacy Johnson is joined by financial journalist Miranda Marquit. Listening in and sometimes contributing is producer Aaron Freeman. Today’s special guest is Robert Farrington, a Web3 expert and founder of digital asset education website Cult of Money.
Remember, even though we sometimes talk about specific investments on this show, don’t take them as recommendations because they’re not. Before investing in anything or making any money moves, do your research and make your own decisions.
You can watch this episode below, or if you’d prefer to listen, you can do that with the player at the top of this article or download the episode wherever you get your podcasts:
What is Web3?
Understanding Web3, also known as Web 3.0, can help you decide if it makes sense for you to invest in it. Web3 encompasses the next evolution of the internet, including concepts like the metaverse, virtual reality and augmented reality. Robert gives a great definition of how the blockchain works and how this structure can be used in the next iteration of the internet.
- Ready to learn about cryptocurrency as a Web3 investment? Check out our podcast episode on what you need to know.
- We also have an episode on the basics of investing in cryptocurrency.
- Looking for more information about the metaverse? We have you covered in a podcast episode on what to expect from a metaverse world.
- Miranda wrote a primer on Web3 for Cult of Money.
- Trying to learn more about the Ethereum merge? Learn more from Ethereum about how it’s supposed to work.
- Want to know about proof-of-stake vs. proof-of-work? Miranda has written about this topic for TIME.
How to invest in Web3
If you want to invest in Web3, there are several ways to do so. We talk about five different ways to invest in Web3: cryptocurrencies, non-fungible tokens (NFTs), play-to-earn crypto games, Web3 stocks and even exchange-traded funds (ETFs).
- Read about different ETFs being rolled out to focus on the metaverse.
- You can actually add Bitcoin to your 401(k) now.
- If you’re interested in using cryptocurrency and getting involved in the ecosystem, read our article about things you can buy using cryptocurrencies.
- Miranda also has an article about investing in metaverse stocks and other assets.
When investing in these assets, it’s important to remember a few things:
- Don’t risk more than you can afford to lose.
- Some of these investments are considered to have above-average risk.
- We don’t know whether or when Web3 will really be a thing.
- Watch out for scams.
- Look at the use case, delivery and development.
Meet this week’s guest, Robert Farrington, MBA
Robert Farrington is the founder of The College Investor. He’s one of America’s top student loan debt experts and regularly talks about everything from paying for college to navigating student loan repayment.
He’s also the editor-in-chief of Cult of Money, a website dedicated to personal finance for the crypto-curious.
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About the hosts
Stacy Johnson founded Money Talks News in 1991. He’s a CPA, and has also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate.
Miranda Marquit, MBA, is a financial expert, writer and speaker. She’s been covering personal finance and investing topics for almost 20 years. When not writing and podcasting, she enjoys travel, reading and the outdoors.